More news from the two largest holders of NST securities. The...

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eshmun

12,259 Posts.

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21/09/20

21:39

Post #: 47516942
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Originally posted by eshmun ↑

Conspiracy theory? Really.

Two of the largest banks in the world, one JP Morgan which manages QE programs for the US Federal reserve, have blacklisted the largest refiner of gold in the world and it looks like they are pushing to have the Perth Mint's gold bars de-accredited from the LBMA, ie they are trying to make Perth mint gold not good for delivery in the oldest gold trading system which has roots that go back to the 17th century.

What is the reason these banks give for taking this action?

"Both the banks (HSBC and JPMorgan) are concerned that by doing business with the mint they could be implicated in its troubles," one source who has spoken with staff at the two banks about the new policy said.

"They are concerned their own reputation could be brought into question."

Reputation? They must be kidding.

The latest allegations against JP Morgan are for spoofing the precious metals market and are being investigated by the US justice department (or what is left of it after Trump caused the US Attorney for the southern district of NY, Berman to resign) under the RICO statute, a statute set up to fight the gangsters of the 1920s.

JPMorgan’s metals desk was a criminal enterprise, say prosecutors

https://www.copyright link/markets/...al-enterprise-say-prosecutors-20190917-p52s0y

It doesn't stop there. Take JP Morgan rap's sheet for example, you can see the extent and ingenuity of the modes of operation in the link above.

https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase

Yes that is over $30 billion in fines, penalties and restitutions from one US bank alone and some of those penalties are for felonies (actual crimes) and no one goes to jail.

Then they have the nerve to be worried about their reputation. That is just a convenient excuse. The real reason is that they are trying to tarnish gold and this is the first attack on the physical market. They will do anything to defend the USD because if the USD falls the entire debt driven asset bubble falls with it as the liquidity that supports the bubble will have the rug pulled out from under it.

Owning financial gold was made illegal for 41 years in the US and when push comes to shove and when this cartel of banking conmen get desperate enough that can happen again. Blacklisting and ceasing to buy bars from the biggest gold refiner in the world using an unsubstantiated and conveniently contrived excuse is just the first stage in the process.Esh

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More news from the two largest holders of NST securities. The same banks that have been reported as having blacklisted the Perth mint, for the following reasons. "Both the banks (HSBC and JPMorgan) are concerned that by doing business with the mint they could be implicated in its troubles," one source who has spoken with staff at the two banks about the new policy said. "They are concerned their own reputation could be brought into question."

NST Price at posting: $14.57 Sentiment: None Disclosure: Not Held
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