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Robert Lambourne: BIS gold swaps fell slightly in December; no hint of Basel III influence

Section: Documentation

By Robert Lambourne
Sunday, January 9, 2022

The recently released December statement of account of the Bank for International Settlements --

https://www.bis.org/banking/balsheet/statofacc211231.pdf

-- contains information suggesting a decrease of about 37 tonnes in the bank's gold swaps, from 451 tonnes in November to 414 tonnes in December. 

This compares to the record high estimated at 552 tonnes as of February 25 this year.

JPM holds 62% of bank-held stock derivatives -- or is that really a U.S. govt. position?

Section: Documentation

10:48a ET Thursday, December 23, 2021

Dear Friend of GATA and Gold:

More great investigative journalism today from Pam and Russ Martens of Wall Street on Parade shows that JPMorganChase is listed as the owner of 62% of all stock derivatives held at all 4,914 federally-insured banks in the United States, a notional total of $3.3 trillion in derivatives.

The Martenses ask how anything like this possibly could be permitted by the U.S. government.

... Dispatch continues below ...

Robert Lambourne: BIS gold swaps increased slightly in November

Section: Documentation

By Robert Lambourne
Sunday, December 12, 2021

The recently released November statement of account of the Bank for International Settlements —

https://www.bis.org/banking/balsheet/statofacc211130.pdf

— contains information suggesting an increase of about 37 tonnes in the bank's gold swaps, from 414 tonnes in October to 451 tonnes in November. 

This compares to the record high estimated at 552 tonnes as of February 25 this year.

Robert Lambourne: Where should gold go if price suppression policy ever fails?

Section: Documentation

By Robert Lambourne
Monday, December 6, 2021

From time to time I am fortunate enough to have conversations with Chris Powell of GATA, who discusses his opinions on all matters concerning the gold market. Powell and Bill Murphy have done so much to expose the manipulation of the gold markets by the U.S. monetary authorities, which always seem to be trying to keep the gold price suppressed. This year seems to have been an extreme, almost maniacal example of this policy, which impairs price discovery by the international gold market.

U.S. Treasury refuses to answer many questions about disposition of its own gold

Section: Documentation

11:31a ET Wednesday, December 1, 2021

Dear Friend of GATA and Gold:

Recent correspondence between U.S. Rep. Alex X. Mooney, R-West Virginia, and the U.S. Treasury Department suggests that the department has given the Federal Reserve and International Monetary Fund unfettered control of a substantial portion of U.S. gold reserves.

In a letter to Treasury Secretary Janet Yellen on June 9 this year --

https://gata.org/sites/default/files/Mooney-To-Treasury-06-09-2021.pdf

JPMorganChase to pay $60 million to settle precious metals spoofing lawsuit

Section: Documentation

By Jonathan Stempel
Reuters
Friday, November 19, 2021

NEW YORK -- JPMorgan Chase & Co (JPM.N) agreed to pay $60 million to settle class-action litigation by investors who accused the largest U.S. bank of intentionally manipulating prices of precious metals futures and options.

The settlement disclosed today stemmed from sprawling U.S. government investigations into a form of illegal trading in precious metals and U.S. Treasury markets, known as spoofing.

Third gold market rigging settlement brings total payments to $152 million

Section: Documentation

By Dave Simpson, Rachel O'Brien, Dean Seal, Eric Kroh, and Jon Hill
Law360, New York
Saturday, November 13, 2021
 ·
LONDON -- Barclays Bank PLC, Scotiabank, Societe Generale, and the London Gold Market Fixing Ltd. agreed to pay $50 million to end claims that they illegally fixed prices on the gold market, the putative class of gold traders told a New York federal court Friday.

Three banks paying $50 million to settle antitrust claims they rigged London gold fix

Section: Documentation

From Bloomberg Law, New York
Monday, November 15, 2021

Barclays Plc, Societe Generale SA, Scotiabank, and London Gold Market Fixing Ltd. will pay a combined $50 million to end antitrust litigation over an alleged scheme to rig the gold "fix," a key pricing benchmark, according to a federal court filing in Manhattan.

... Dispatch continues below ...


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Robert Lambourne: BIS gold swaps fell slowly again in October

Section: Documentation

By Robert Lambourne
Wednesday, November 10, 2021

The recently released October statement of account of the Bank for International Settlements --

https://www.bis.org/banking/balsheet/statofacc211031.pdf

-- contains information suggesting a decrease of about 24 tonnes in the bank's gold swaps, from 438 tonnes in September to 414 tonnes in October. 

This compares to the record high estimated at 552 tonnes as of February 25 this year.

Robert Lambourne: Small decline in BIS gold swaps in August

Section: Documentation

By Robert Lambourne
Saturday, October 23, 2021

The recently released September statement of account of the Bank for International Settlements -

https://www.bis.org/banking/balsheet/statofacc210930.pdf

— contains information suggesting a decrease of about 26 tonnes in the bank's gold swaps during August, from 464 tonnes to 438 tonnes.

This compares to the record high estimated at 552 tonnes as of February this year.

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