Interesting comments there on a variety of topics.
This was interesting:
I don’t buy the JPMorgan precious metals “spoofing” nonsense. I was trying to understand what happened reading Zerohedge and the strategy makes no sense.
Then it occurred to me…
This is how big corporations launder their payoffs to the government, or any outside party. In JPM’s case, they use a bogus securities violation to launder payoffs as fines to the SEC, and then that money is further laundered elsewhere.
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it may even be simpler than that.
“if we rig the PM markets, we make $10B before we get caught – it’s the government, they move in slow motion; I give you the nonexistent Durham indictments as proof – and then we shut down and fight like hell in the courts. Civil, not criminal, of course: bankers don’t **ever** go to prison here in the land of the free! Litigate litigate litigate, delay and obfuscate like hell, and in the end ….. 8 or 10 years after the fact …. we pay a $1B fine.
not bad, especially considering we had 10 years to invest that $1B, so the fine kinda pays for itself! drinks all around! hookers & coke on the company plane!! stock options for all!! (well, not the *little people*, of course)
and we get to write off the legal fees as a business expense, so all we really hadda pay was the $2 million for hiring the “regulator” (LOLZ) after he leaves government service.”
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https://www.anonymousconservative.com/blog/news-briefs-09-30-2020/