Chase Bank Joins Mafia In Being Charged With RICO Violations

9.24.20 – JPMorgan to pay almost $1 billion fine

Gold last traded at $1,865 an ounce. Silver at $23.05 an ounce.

NEWS SUMMARY: Precious metal prices rebounded Thursday despite a firmer dollar. U.S. stocks gyrated as traders weighed the latest batch of economic data and tech tried to recover from its recent losses.

JPMorgan to pay almost $1 billion fine for manipulation of metal and Treasuries markets –CNBC
“JPMorgan Chase is close to paying almost $1 billion to resolve government investigations into the alleged manipulation of metal and Treasurys markets, according to a person with knowledge of the matter. A settlement between New York-based JPMorgan and several U.S. agencies could come as soon as this week, according to Bloomberg…A penalty of that size would be a record for spoofing, which is when sophisticated traders flood markets with orders that they have no intention of actually executing. The practice was banned after the 2008 financial crisis and regulators have made it a priority to stamp out. While JPMorgan may be forced to admit wrongdoing in the settlement, the deal isn’t expected to result in business restrictions on other areas of the firm. The case was revealed in September 2019 when a 14-count criminal indictment against three current or former JPMorgan employees, including the global head of base and precious metals trading, was unsealed. The indictment alleges the traders, along with eight unnamed co-conspirators who worked at JPMorgan offices in New York, London and Singapore, participated in a racketeering conspiracy in connection with a multiyear scheme to manipulate the precious metals markets and defraud customers….They each were charged with one count of conspiracy under the RICO Act, which historically has been used in mafia prosecutions, as well as other federal crimes in connection with manipulating precious metals futures markets.”

Comment: It’s official. Banksters are real and they ARE the same as GANGSTERS. Chase is part of the Federal Reserve (pictured) of the ZIONIST Gangsta Mafia.

Debt Tsunami Coming and the American Way of Life Will Be OVER!

Fed Preparing To Deposit “Digital Dollars” Directly To “Each American” –Zero Hedge
“Over the past decade, the one common theme despite the political upheaval and growing social and geopolitical instability, was that the market would keep marching higher and the Fed would continue injecting liquidity into the system. The second common theme is that despite sparking unprecedented asset price inflation, prices as measured across the broader economy – using the flawed CPI metric and certainly stagnant worker wages – would remain subdued. The Fed’s failure to reach its inflation target – which prompted the US central bank to radically overhaul its monetary dogma last month and unveil Flexible Average Inflation Targeting (or FAIT) whereby the Fed will allow inflation to run hot without hiking rates….In short, ever since the Fed launched QE and NIRP, it has been making the situation it has been trying to ‘fix’ even worse while blowing the biggest asset price bubble in history….And yet, the lament is that even as the economy was desperately in need of a massive liquidity tsunami, the funds created by the Fed and Treasury did not make their way to those who need them the most: end consumers….Two former Fed officials: Simon Potter, who led the Federal Reserve Bank of New York’s markets group i.e., he was the head of the Fed’s Plunge Protection Team for years, and Julia Coronado, who spent eight years as an economist for the Fed’s Board of Governors…propose creating a monetary tool that they call recession insurance bonds, which draw on some of the advances in digital payments, which will be wired instantly to Americans. As Coronado explained the details, Congress would grant the Fed an additional tool for providing support – say, a percent of GDP to households in a recession…The Fed would then activate the securities and deposit the funds digitally in households’ apps….This morning, as if to confirm our speculation of what comes next, Cleveland Fed president Loretta Mester delivered a speech to the Chicago Payment Symposium titled ‘Payments and the Pandemic’…And in the shocking punchline reveals that legislation has proposed that each American have an account at the Fed in which digital dollars could be deposited, as liabilities of the Federal Reserve Banks, which could be used for emergency payments.’…The Fed would then be able to scrap ‘anonymous’ physical currency entirely, and track every single banknote from its ‘creation’ all though the various transactions that take place during its lifetime….Absent a massive burst of inflation in the coming years which inflates away the hundreds of trillions in federal debt, the unprecedented debt tsunami that is coming would mean the end to the American way of life as we know it.”