Today, I want to explore the real impetus behind the US Department of Justice investigation into JP Morgan’s nefarious gold price rigging schemes, because I suspect there is much more to this story than what meets the eye. Why has the US DOJ suddenly embraced the fight for justice against bankers and charged them with charges normally reserved for criminal racketeering organizations under the RICO (Racketeer Influenced and Corrupt Organizations) act, as revealed in unsealed indictments earlier this week? I have in particular, been closely following the case of John Edmonds for a year now, as he was a 13-year JP Morgan banker indicted in August of last year for manipulating the prices of gold, silver, platinum and palladium. During his court hearing, Mr. Edmonds stated that he learned his tradecraft of illegal commodity futures price manipulation from his seniors at JP Morgan and that his actions were well-known and encouraged by his superiors. I have been following his case for more than a year because it was initially reported that he could face 30-years in jail for his crimes, and I wondered, since he had already started to sing during his hearing, before his sentencing, how JP Morgan executives were going to position Mr. Edmond's crimes, as normally bankers caught committing systemic bank-wide crimes are usually shipped down the river by their superiors without a paddle and accused of being a "rogue" banker that acted on his or her own. In this case, Mr. Edmonds had apparently started naming names, and the "rogue" banker lie would have been a particularly hard sell to make by his superiors. I started tracking his case even more closely after December 2018 came and went, and Mr. Edmonds received no sentencing for his crimes as had been scheduled. I could uncover no reason for his delay in sentencing at first, but it was later revealed that his sentencing would be delayed until early 2019 because he was "cooperating" with prosecutors, which in laymen's terms, meant he had turned snitch to save his own skin. Since then, Mr. Edmond's sentencing has been postponed a second time, and as of September 2019, he still has yet to receive his sentence, which I interpret to be a sign that he must really be singing quite loudly.
Consequently, when I read about the leaked indictment against other JP Morgan bankers for similar precious metal price manipulation in the futures markets, I could not help but connect the dots back to Mr. Edmond, which also likely makes him a prime candidate to be "suicided" as he waits in jail for nearly a year now for his sentencing, especially if my speculation regarding him fingering other JP Morgan bankers for crimes is true. However, I still feel as if this abrupt about face in behavior from how the US Justice Department employees reacted to the exact same offenses committed by hundreds of bankers in the many years prior to the 2008 global financial crisis as well as in the many years after, during which they basically looked the other way and allowed such crimes not only to continue, but to proliferate in number and in magnitude, needs to be questioned at a minimum. In fact, the only banker I can remember being prosecuted and jailed during that entire time, though hundreds of bankers committed crimes, including the very same crimes the DOJ is now pursuing, was Bernie Madoff. Something about this whole operation just seems off and a little bit suspect to me, as even the CFTC charged JP Morgan bankers many years ago with committing fraud in their reporting of gold futures data hundreds of times, and this indictment never sparked any type of response from the DOJ except complete ignorance of these crimes.
Consequently, the big question is why now and cui bono? Why is the US DOJ so concerned with gold price manipulation now after having zero concern about these issues years ago? In fact, the DOJ avoided this situation like the plague likely due to the gold and silver price suppression scheme being a joint State and Central Bank operation. Their past avoidance of these cases was similar to how US Secretary Labor Alex Acosta, after he was verbally flayed for agreeing to the lightest sentence possible for pedophile Jeffery Epstein years ago, in a case that would have netted anyone else life in prison, claimed he was told to back off of a harsh sentence for Epstein because Epstein was an asset of an intelligence agency. Just as something stunk to high heaven about Epstein's slap on the wrist for repugnant crimes back then, something stinks about this about face committed by DOJ officials in their handling of JP Morgan banker criminals. Something tells me that this is a smoke and mirrors, dog and pony show, and is not sincere. In fact, unless the top dogs that oversaw these missions at JP Morgan, CEO Jamie Dimon and then Head of Global Commodities, Blythe Masters, are also indicted, it is near guaranteed to be a distraction scheme for something bigger. If these two key figures at JP Morgan are never indicted under this sweep of JP Morgan bankers for gold and silver price manipulation, then you can be assured that this sweep is a charade and that it some part of a bigger Jedi mind trick being pulled on all of us.
The drug cartel equivalent would be like DEA (Drug Enforcement Agency) agents parading the multiple arrests of low level street corner drug peddlers and hustlers on television with the release of a highly publicized official statement that open selling of drugs will no longer be tolerated in the inner city, all while secretly continuing to work with drug lords behind the scenes to ensure safe passage for drugs into the inner city in order to continue funding secret slush funds for future BlackOps. Something about this sweep against JP Morgan bankers just seems incongruous with past behavior. I would be ecstatic if this sweep really were honest and not just for show, as handed down sentences of at least 10 years in prison to bankers that perpetual engage in criminal activity would almost definitely curb similar activity at other global banks, even among bankers still in bed with the US dollar cartel to suppress gold and silver prices.
I would like to believe that this roundup of JP Morgan bankers is not for show only, that all will be sentenced to hard time in prison, and that justice will finally prevail. However, I have a hard time accepting this will be the outcome of this indictment. The only legitimate reason that I can think of for this sweep is one similar to the reasons behind regime change in nations around the world. For example, for many years, when Saddam Hussein served his role in providing a buffer in the Middle East to Iran, the neocon military industrial complex allowed Saddam to flourish, as evidenced by many photographs of Saddam's very cordial meetings with US Secretary of Defense Donald Rumsfeld.
However, once Saddam Hussein stopped obeying his orders from the neocons and started making decisions in his own self-interest but not for the owners of the US Central Bank, such as selling Iraqi oil in Euros and not dollars, then the decision of his removal from power in Iraq was made by the neocons. This decision did not translate into a better quality of life for Iraqi citizens however, as 19 years later, Iraq is still ravage with terrorism, insecurity, violence and lack of basic infrastructure such as running water and electricity. That decision only meant that the neocons would replace Saddam with another puppet that would once again be obedient to serving their interests in Iraq. So, could this be the analogous situation of what is happening with JP Morgan bankers that executed various gold price manipulation and silver price manipulation schemes for decades? Perhaps JP Morgan was the preferred criminal enterprise to execute these criminal, immoral activities for decades, but then had a falling out with the neocons and global bankers. And now, because of this falling out, they are being systematically taken down, not to end gold and silver price manipulation, but to be replaced with another puppet that will strictly follow the orders of the US dollar cartel. This reason makes the most sense to me of any possibility, as bankers from many global banks were allowed to operate with impunity, using HFT programs to constantly spoof, stuff quote and dump billions of dollars of nominal amounts gold futures contracts in minutes, without the sale of a single ounce of real physical gold, for decades on end.
I see this speculative possibility as a reasonable explanation for the indictments levied by the DOJ against JP Morgan bankers, but still cannot see the impetus for such actions as a real desire to shut down gold and silver price manipulation. What do you think? To view a full video about this topic, as well as why bankers that start chirping after being arrested will become prime candidates for being "suicided" in the future for breaking their oath of silence, please click this link. Thank you to all of our patrons for your continuing support. You can become a member of our growing patron community here.
About the author: J.Kim is the Founder and Chief Education Officer of skwealthacademy, a coming revolutionary, disruptive online education academy that focuses on the provision of all essential missing educational components of schooling today such as critical thinking, applied knowledge, business ethics, and the pursuit of meaning through the attainment of life purpose and holistic wealth. Sign up for my weekly newsletter here, and subscribe to my maalamalama YouTube channel here and my maalamalama Instagram here.