JP Morgan Gold Traders go to Jail, while JP Morgan exits DoJ ‘Sin Bin’

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October 17, 2023

by Ronan Manly, BullionStar:

There have been some interesting developments in the long running saga of criminal prosecutions by the US Department of Justice (DoJ) against J.P. Morgan and its lawbreaking traders for precious metals price manipulation and fraud.

While three of JP Morgan’s top former gold traders were sentenced to jail in late August and September 2023, JP Morgan itself walks free after now having exited its 3 year-long Deferred Prosecution Agreement (DFA) with the US Department of Justice (DoJ) – an agreement which was signed in late September 2019, but began on September 29, 2020 and which expired in late September 2023.

JPMorgan Chase Has Lost a Quarter Trillion Dollars in Deposits in Last 7 Quarters — Fortress Balance Sheet or Leaky Sieve?

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October 17, 2023

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by Pam Martens and Russ Martens, Wall St On Parade:

On May 1, the Federal Deposit Insurance Corporation announced that First Republic Bank had failed and that it was being sold to JPMorgan Chase. At the time, JPMorgan Chase was already the largest and riskiest bank in the United States. The sweetheart deal the bank got from the FDIC to take over First Republic included the FDIC eating 80 percent of any losses on single-family residential mortgages for 7 years and 80 percent of any losses on commercial loans, including commercial real estate, for five years. The FDIC also provided JPMorgan Chase with a $50 billion, five-year fixed-rate loan at an undisclosed interest rate.

Gold’s War Price Premium Pops Again?

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October 14, 2023

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from SD Bullion:

TRUTH LIVES on at https://sgtreport.tv/

Have central banks lost control over the gold price?

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October 13, 2023

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by Alasdair Macleod, GoldMoney:

Over the past few months, gold prices have completely detached from our model-predicted prices. While we have seen deviations between actual and predicted prices in the past, those deviations were always temporary. What we are witnessing now is the paradigm shift we alluded to in our report from March 2023. Some explanations for this deviation we presented in that report are still valid. However, it appears increasingly likely that the main reason for this development is the central banks’ having lost control over the gold price.

CBDCs: Ultimate Tool of Oppression

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October 13, 2023

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by Laura Dodsworth, Daily Sceptic:

“If you want a picture of the future, imagine a boot stamping on a human face – for ever,” said O’Brien, the grand inquisitor of the totalitarian regime in Orwell’s futuristic novel 1984.

Alternatively, you could imagine a sandal.

Last month I visited Sutton Hoo, the famous Anglo-Saxon burial site of a king and his ship in Suffolk. A gold coin pendant in the museum caught my eye. It depicted a triumphant Roman standing over a conquered barbarian, his sandalled foot placed firmly on the supine opponent’s chest.

Fed’s Vice Chair for Supervision Says Another Financial Crisis Could Cost U.S. $5 Trillion to $25 Trillion – Potentially as Much as 100 Percent of GDP

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October 13, 2023

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by Pam Martens and Russ Martens, Wall St On Parade:

On Monday, Michael Barr, the Vice Chair for Supervision at the Federal Reserve, addressed a contentious issue in a speech before the American Bankers Association’s annual convention in Nashville. The topic was why federal banking regulators have proposed higher capital levels for the largest U.S. banks, those with assets over $100 billion.

As we reported on September 20, there has been aggressive pushback on the proposal from large banks, their lobbyists and their trade associations. (Community banks are not impacted by the proposal.)

Yellen’s Phony Math

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October 12, 2023

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by Craig Hemke, Sprott Money:

Janet Yellen has served as both Chair of the Fed and U.S. Treasury Secretary. During her time on the job, she has muttered some doozies that leave you scratching your head. Her latest, from an appearance last week, might be one of her craziest yet.

I suppose I could spend most of this column adding text and screenshots from some of Yellen’s most outrageous statements, but we’d be here all day and who has time for that? Instead, here are just two of my favorites:

SILVER Coiled While “We Are NOT PREPARED To Deal With This Crisis” Jeff Clark & Mike Maloney

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October 11, 2023

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from GoldSilver (w/ Mike Maloney):

TRUTH LIVES on at https://sgtreport.tv/

China’s Economic Crisis Drives Frantic Gold Buying

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October 11, 2023

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from Birch Gold Group:

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: The not-so-hidden Chinese crisis, what we can expect from gold in the near-term, and a reminder on why only gold bullion cuts it.

The Chinese economic slump and the accompanying rush to gold

We’ve covered high Chinese premiums compared to the pricing in the West, with an ounce going for as much as $100 higher in the Asian nation than our own spot. We’ve entertained various theories as to why this might be the case, but Frank Holmes presents us with a straightforward explanation: China is experiencing an economic crisis.

The Societal Effects Of Inflation – How You Know Things Are Really Going Bad

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October 11, 2023

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by Brandon Smith, Alt Market:

Historically speaking, inflation/stagflation has always been a disastrous affair. One is hard pressed to find any legitimate examples of a country that experienced an aggressive inflationary event that came out better for it. A rare scenario would be one in which a nation inflates to fund a war that they then win, but usually negative consequences still happen later down the road.

The problem is that the effects of inflation can be subtle and far reaching, quietly creeping up on a population until suddenly there’s a tidal wave of societal crises. In the US (and much of the western world) we are already witnessing elements of inflationary disaster; there’s a good reason why around 60% of Americans now have a pessimistic view of the future, with a majority of people saying life is worse for them today than it was in the past.

Americans Are Rapidly Losing “Spending Power”

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October 9, 2023

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by Mac Slavo, SHTF Plan:

In the face of inflation and and a skyrocketing national debt, the average everyday American is rapidly watching their spending power evaporate. The mainstream media is reporting that the number of Americans with declining incomes is increasing.

A much higher cost of living is taking its toll on the average American just trying to get by. But even those with six-figure incomes are starting to feel the pinch of inflation and the devaluation of the U.S. dollar.

A COT Report Certainly Worth Framing

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October 9, 2023

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by Ed Steer, Silver Seek:

The gold price wandered quietly and unevenly higher in GLOBEX trading overseas on Friday — and that lasted until around 12:25 p.m. China Standard Time on their Friday afternoon. It then had a down/up move that ended around 11:15 a.m. in London. It was sold a bit lower from there until the jobs number hit the tape at 8:30 a.m. in New York — and gold’s low tick of the day was set about fifteen minutes later. Then away it went to the upside…running into ‘something’ twice during its rally, which was capped at 11:30 a.m. EDT in COMEX trading. It had two down/up moves after that…neither of which was allowed above its 11:50 a.m. high tick.

The Bond Market Has Collapsed, and What’s Coming Up Next with Michael Pento

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October 9, 2023

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by Kerry Lutz, Financial Survival Network:

Michael Pento discussed the current state of the bond market and warned of the potential collapse of the US dollar due to the erosion of faith in the world’s reserve currency. He advised investors to sell long duration bond exposure and invest in short term US government debt. Pento also discussed the inflation and GDP acceleration, as well as China and Japan’s selling of US treasuries. He warned of the massive issuance and supply of US debt and questioned who will buy it, as the Federal Reserve is no longer buying and is instead selling their balance sheet, adding to the supply from China and Japan.

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