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How the U.S. toppled the world's most powerful gold trader
Except that the world's most powerful gold traders are really the U.S Treasury Department, the Federal Reserve, and the Bank for International Settlements, for which JPMorgan Chase long has been executing trades.
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How the U.S. Toppled the World's Most Powerful Gold Trader
Eddie Spence, Joe Deaux, and Tom Schoenberg
Bloomberg News
via Yahoo News, Sunnyvale, California
Sunday, August 14, 2022
In December 2018 a man in his early 30s was intercepted on arrival at the Fort Lauderdale airport and taken to a room where two FBI agents sat waiting.
The target was scared and already on high alert -- one of his associates had recently admitted to crimes he knew he had also committed. Christian Trunz wasn't a terrorist or a drug trafficker but a mid-level trader of precious metals returning from his honeymoon.
Crucially, he was also a longstanding employee of JPMorgan Chase & Co., the biggest bullion bank.
... Dispatch continues below ...
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Begins Drilling at Golden Buffalo Site
Company Announcement
Wednesday, August 10, 2022
VANCOUVER, British Columbia, Canada -- Relevant Gold Corp. today announced that is has filed its non-offering prospectus with the British Columbia Securities Commission and has received approval to list the company's common shares on the Canadian Securities Exchange. The prospectus was filed to qualify the distribution of the common shares previously issued by the company. No securities were sold and no proceeds were raised pursuant to the prospectus. Relevant Gold’s common shares are expected to begin trading on August 11 under the symbol RGC.
In March 2022 the company completed a non-brokered private placement financing that raised gross proceeds of C$5.703 million. Relevant Gold issued 16,293,862 common shares at C$0.35 pursuant to the private placement.
"Relevant Gold is strongly positioned as we head into the exploration season and we are excited about the opportunities before us," Relevant Gold CEO Rob Bergmann said. "The capital we raised this spring gave us the runway we needed to secure a drilling contractor and advance our flagship asset, Golden Buffalo, to the point of commencing drilling in July. On behalf of the board I thank our shareholders for their continued support as we make the transition from private to public company and begin drilling exploration of our first Wyoming asset." ...
... For the remainder of the announcement:
https://relevantgoldcorp.com/posts/299/
The FBI's airport ambush described by Trunz was a crucial step in the pursuit by U.S. prosecutors of JPMorgan's precious metals desk, leading up to last week's climax -- the conviction on 13 counts of the man who was once the most powerful figure in the gold market, the desk's former global head, Michael Nowak.
Watched with a mix of fascination and horror by precious metals traders around the world, the case has shone a light on how JPMorgan's traders -- including Nowak and the bank's long-time lead gold trader Gregg Smith -- for years allegedly manipulated markets by placing bogus orders designed to wrongfoot other market participants, principally algorithmic traders whose high-speed activity became a major source of frustration.
Nowak has become one of the most senior bankers to be convicted in the United States since the financial crisis and faces the prospect of decades in prison, although it could be far less. ...
... For the remainder of the report:
https://finance.yahoo.com/news/us-toppled-world-most-powerful-123040880.html
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New Orleans Investment Conference
Wednesday-Saturday, October 12-15, 2022
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
https://neworleansconference.com/wp-content/uploads/2022/07/NOIC_2022_powellgata.html
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Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
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Stuart Englert's "Rigged"
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-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
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