JPMorgan’s former gold trader Gregg Smith sentenced to 2 years for fraud, market manipulation - The Great Awakening - Where We Go Qne, We Go All!

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JPMorgan’s former gold trader Gregg Smith sentenced to 2 years for fraud, market manipulation (nypost.com) 🚔 Crime & Bankers 💸

posted 1 year ago by JFQ17 1 year ago by JFQ17 +55 / -0

JPMorgan’s former gold trader Gregg Smith sentenced to 2 years for fraud, market manipulation

Gregg Smith, formerly JPMorgan’s chief gold trader, was convicted on 11 charges for manipulating gold and silver prices from 2008 to 2016 and sentenced to two years behind bars.

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– Slyver 3 points 1 year ago +3 / -0

I mean... Rothschilds set the value of gold twice a day for a hundred years.

I'm not sure what "manipulate" means, but I'm pretty sure setting the price of the most important commodity in the market by simple declarative authority qualifies.

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– Pbman2 2 points 1 year ago +2 / -0

They short the market, to cheat the longs. And then spoof the price down to cover.

And yes it's illegal.

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