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15616581 No.15616581 [Reply] [Original]

The Gold Market is Totally Fraudulent

https://nypost.com/2019/09/16/jpmorgan-metals-traders-accused-of-manipulating-prices/

>From 2008 to 2016, Michael Nowak, Gregg Smith, and Christopher Jordan were involved in placing thousands of scam orders into the precious metals markets in order to “trick” rival traders into buying or selling with them, according to the criminal indictment from the DOJ.

>The traders used an illegal tactic called “spoofing,” where they flooded markets with a mix of real and false orders to buy and sell futures contracts on the metals in order to give a false impression about the true supply and demand, according to the indictment.

>For instance, on May 27, 2008 at 8:39 AM, Smith, of Scarsdale, NY, placed an order to sell seven silver futures contracts for $17.575, according to the indictment.

>Twelve seconds later, Smith put out a fake order to buy 91 silver contracts at one to two pennies lower — making it look like the price of the metal was heading down, and his real offer was a good deal, the DOJ alleges.

>Three second later, his real order was fulfilled, according to the indictment.

Libertarians on suicide watch.

>> No.15616588

>>15616581
And crypto is a bastion of integrity and altruism

>> No.15616591

>>15616581
Whaaaa?

>> No.15616595

This is actually bullish....there has been heavy price suppression...but by all means, buy more Chinese shitcoins

>> No.15616607

Holy shit thats even worse than the 100 year chart
Wow goldbugs are retarded

>> No.15616612

>>15616581
>paper metals BTFO
>he didn't stack physical

>> No.15616625

>>15616588
Less stupid money in the space because most Boomers thankfully have issues booting a PC, so less liquidity less "institutional" scammers

>> No.15616640

>>15616625
HAHAHAHAHA
OK, Smart money man.

>> No.15616654

>>15616588
>>15616595
You people can literally only argue against crypto. You cant say shit about the fact that bonds and indices outperform metals on all time frames

>> No.15616731

>>15616595
>>15616612
exactly, op is a dumb fag like always