Man Versus Machine: A Glimpse into The Fixed World Of Gold

JPMorgan holds tens of billions of dollars in gold in vaults in London, New York and Singapore. It is one of four clearing members of the London market, where global gold prices are set by buying and selling metal held in a few London vaults — including JPMorgan’s and the Bank of England’s.

JPMorgan is the biggest player among a small group of “bullion banks” that dominate the precious metals markets, and thanks to a recent US court case, and the internal documents presented by prosecutors we got a glimpse of just how dominant a role the bank has played and how the Gold market works. In 2010, for example, 40% of all transactions in the gold market were cleared by JPMorgan.

This is important because as I have said many times, the 50 times plus relationship between physical gold holdings and the various derivatives held against it means it is a highly manipulated market, which sits at the heart of the financial system.

So today we will look at the case, and how so called called “spoof” trades — large orders intended to manipulate prices that were quickly canceled works.

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Written by Walk The World


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  1. You only have to look on the US Debt Clock right hand corner to see how Gold and Silver is grossly undervalued to the money supply and that's only the United States. All smoke and mirrors.

  2. Thanks for covering this Martin. These convictions are basically a show trial, but they do nonetheless prove that gold markets, just like every other one, are rigged. The rigging will continue, there is so much corruption in that this is a mere tip of a huge iceberg.

  3. Gold, an almost useless but very pretty metal that is dug up refined and locked up and guarded hoping that someone else will pay you more than you did.

  4. Committing financial crimes by clicking a mouse really fast….
    Boy, these guys really are the smartest people in the room and deserve million dollar salaries.
    Thanks Martin. :):)

  5. Well done Martin I have been trying to understand the precious metals market for years you have done a good job of pointing out the serious issues that underlie this market.

  6. Whilst a couple of underlings were sacrificed to cover up for the endemic corporate corruption and manipulation of the market the actual corporations suffered no loss,. The large financial organisations, hedge funds and banks are all running a criminal racket in collusion with politicians and the mega rich in my view

  7. Thank you for that Martin…not only are precious metals manipulated but anything to do with money/investment.
    This is to keep people at bay so that the have and have not's remain distantly apart. The system is flawed to the
    point that you have to step outside the system in order to get on. Off grid lifestyles may be worth another look.
    This is what lead me toward becoming a professional gambler doing arbitrage.

  8. Think about it.. the banks have been using computers since 1960s… all done by computers… and it's the big banks doing it.. not just a few traders🤡🤡
    Hope they jail these clowns and close down the companies🙏🙏

  9. Banks are the real Government & they need to keep the price of real physical Gold down as this shows there FIAT currency isn’t collapsing..Wikileaks came out with documents showing the paper Gold price mechanism was developed to keep the real price suppressed..I’m sure they can be found out there somewhere..the real question is if you think our current financial system is going to fail..then u need to own some physical Gold as insurance.

  10. Somebody should create a simple battering system backed by precious metals as the bench mark. Basic staple items like flour, firewood, sugar, salt, rice and pasta combined at a certain weight should have their total price equivalent to one ounce silver coin. For higher priced ticket items like cars, machinery and homes, they should be priced in terms of ounces of gold coins.

  11. Gold is legislated as a tier 1 asset. If it should reveal its true value (lets say for argument sake 10x roughly 20k) the worlds reserve currency would start to look very weak. Its in the interests of $USD that gold does not attain its true value. Therefore I believe the 'powers that be' actually aid and abet the manipulation and suppression of the gold price to perpetuate the survival of the world reserve currency.

  12. Forget about the paper price of Gold and Silver, look at the Physical price with Premiums. HINT: There's your true price and indicator of supply/demand. It used to be that as the paper price went down, the premiums followed. That's changed..

  13. the idea for aus post to become a bank where they make no investments only hold deposits is a genius idea. Backed by aussie mined gold to reset our economy and maintain a strong exchange rate. lets reset the gold price.

  14. Manipulation is one thing, but keeping the price down allows Them to accumulate as much as they can, before they let it go. They, and other physical asset holders get rich, but people relying on currency will go broke.

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