USA Department of Justice confirmed that JPMorgan chase is a target for price manipulation in the precious metals market. What is more interesting is that not the manipulating traders are a target. The bank itself is a target. This comes from a 2-year investigation.
It came from Deutsche Bank. The largest bank in Germany, a bank that should be bankrupted over a decade ago and is likely to break up the eurozone, plead guilty. The fines resulted in a loss.
So now JP MorganChase is the target. Not some traders. Will we, finally, see that large banks are being prosecuted. The big question is what they will tell. Will they show how the precious metals are manipulated by large financial institutions? How they cheated against there customers?
For many institutions will this lead to significant risks? JP Morgan Chase is at the center of market manipulation and rigging. So if they start talking and providing evidence. What will come? Who else is part of this manipulation?
Or to put it less mildly. The DOJ sees JP Morgan chase as an organized criminal organization. Like the mafia.
So what is going to happen? Well, the individual traders will go bankrupt. The legal fees and fines are causing this. But will the DOJ blow up the US financial markets by doing the same with JP Morgan Chase? It might be good to do. Show that everyone is equal by the law. But we all know that this is not the case.