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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (147763)	3/25/2023 1:37:40 PM
From: Goose94	Read Replies (1) \| Respond to of 202625

Gold: At King World News, analyst Stephen Leeb cites JPM's heavy gold derivatives Market analyst and fund manager Stephen Leeb, interviewed this week at King World News, discusses JPMorganChase's heavy involvement in gold derivatives and speculates that the bank's short position in gold may be greater than all the bank's other assets combined. "They're trying to control the price of gold," Leeb says, adding that the monetary metal's rising price could be an existential threat to the bank. But why would the bank take such a risk and be so excessively involved on one side of one market, especially since controlling a market ordinarily is a violation of U.S. antitrust law? Of course from GATA's perspective there is an obvious answer: that JPMorganChase's big derivatives position in gold isn't really the bank's positi on at all but the position of a client, the U.S. government, which is fully authorized by the Gold Reserve Act of 1934, as amended, and other federal laws to intervene surreptitiously in and manipulate any market in the world. Anyone who doesn't believe this should put a question to the U.S. Commodity Futures Trading Commission, as GATA and U.S. Rep. Alex X. Mooney, R-West Virginia, have done: Does the commission have enforcement jurisdiction over manipulative trading undertaken by or at the behest of the U.S. government, or is such manipulative trading legal? The commission has repeatedly refused to answer, which, of course, is an answer -- that the U.S. government indeed rigs certain markets for what are considered to be national security purposes. See: gata.org gata.org Twenty-two years ago yo ur secretary/treasurer was present in U.S. District Court in Boston when an assistant U.S. attorney -- moving to dismiss GATA consultant Reginald Howe's lawsuit against the U.S. government, investment banks, and the Bank for International Settlements over their manipulation of the gold market -- declared that the U.S. government indeed has the legal authority to rig the gold market exactly as the lawsuit complained: gata.org So congratulations to Leeb for noting JPMorganChase's overwhelming connection to gold derivatives. His comments are 16 minutes long and can be heard at King World News here: Leeb – JP Morgan’s Massive Gold Derivative Short Position May Be Larger Than The Bank’s Assets But it's only half of the story. Chris Powell, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org