This would be China’s chance to replace the dollar as the global currency, with a gold backed currency.
it would be indeed. They’ve been working on it for years. Now everything is happening so fast. They have sure been flexing their muscle lately. Does Joe think banning the term “ China virus” will make them play nice?
I’m going to see if Jim Prickard has thoughts on this today.
J.P. Morgan settles lawsuit that accused firm of ‘spoofing’ precious metals markets trades
PUBLISHED TUE, SEP 29 202011:27 AM EDTUPDATED TUE, SEP 29 202012:00 PM EDT
J.P. Morgan settled for an undisclosed amount a lawsuit that accused the firm of “spoofing” trades in the precious metals market.
The suit by hedge fund manager Daniel Shak and two commodity traders accused J.P. Morgan of manipulating the silver futures market, costing plaintiffs $30 million in losses.
The bank is also nearing a settlement of $920 million to resolve government investigations for similar alleged conduct in the precious metals and Treasury futures markets, CNBC has learned.