You are here
JPM analyst says central banks rigged markets after Brexit
11:35p ET Tuesday, August 2, 2016
Dear Friend of GATA and Gold:
The financial news Internet site Value Walk reported today that JPMorganChase's quantitative and derivatives strategy chief, Marko Kolanovic, this week issued a report asserting that the rise in stock markets after the United Kingdom's vote to withdraw from the European Union was caused by central bank intervention:
http://www.valuewalk.com/2016/08/kolanovic-volatility-collapse-fake/
That this qualifies as insight is pretty funny, considering that, a few days ahead of the vote in the UK, central banks actually announced their plan to intervene:
http://www.gata.org/node/16519
But Value Walk contends that Kolanovic's conclusion is notable because it marks the first time central banks have been accused by an investment bank research report of "such direct market manipulation."
That is, market intervention by central banks is so obvious now that even the biggest investment bank in the United States can concur with what a high school graduate told GATA's Washington conference eight years ago: "There are no markets anymore, just interventions":
Now that an analyst for JPMorganChase can admit it, could it be all right for mainstream financial news organizations to report it?
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Buy precious metals free of value-added tax throughout Europe
Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.
Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.
Visit us at www.europesilverbullion.com.
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/
Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
