Ronan Manly: Indicted JPM metals desk chief is LBMA board member

Section:

9:05a ET Tuesday, September 17, 2019

Dear Friend of GATA and Gold:

Bullion Star gold researcher Ronan Manly reports today that JPMorganChase, more of whose metals traders were indicted yesterday in the United States on charges of manipulating the metals markets, is a member of the London Bullion Market Association and that one of those traders, Michael Nowak, chief of the bank's precious metals desk, is a member of the LBMA's Board of Directors.

... Dispatch continues below ...



ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/



Manly adds that the LBMA's code of conduct explicitly prohibits market manipulation. Manly doesn't say if the LBMA code provides any particular penalties for violation, but it's a fair guess that they include being winked and nodded at.

Manly's report is headlined "LBMA Board Member & JP Morgan Managing Director Charged with Rigging Precious Metals" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/lbma-board-member-jp-morga...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Friday-Monday, November 1-4, 2019

https://neworleansconference.com/noic-promo/powellgata/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16