Global Commodities at JPMorgan

Today, Bloomberg is finally catching up to years of "conspiracy theory" reporting, such as this article published here in 2014 and titled "Gold Rigging By Bullion Banks Exposed: The Complete Chart", with a sweeping expose about the precious metals manipulation and spoofing scandal, focusing on the precious metals trading desk at JPM and its top trader, Mike Nowak

who until recently was the top JPM precious metals trader, he is now in the crosshairs of a unprecedented RICO case alleging his trading desk operated like an ongoing criminal conspiracy due to its abuse of "spoofing" a strategy that has been blamed as illegal market manipulation that may have caused the 2010 flash crash

Yet now that all the "tinfoil" conspiracy theories involving the JPMorgan commodity trading desk have been confirmed, the bank is set to pay $1 billion to settle all ongoing legal cases (and is yet another reason why Jamie Dimon is richer than you), and a bunch of traders may go to prison for a few months, one name is strangely missing.

That of Blythe Masters, the person who was in charge of all JPMorgan commodity trading in the period 2007 - 2014 when most of these traders got their start in the spoofing business.

While we wait to find out how and why the DOJ missed this key JPMorgan staffer who supervised and made the spoofing possible for nearly a decade, and who was previously busted by FERC for similarly manipulating the energy market in California and Michigan (because merely rigging gold prices was not enough for the bank that also wanted to moonlight as Enron), we will remind readers of an interview Masters gave to CNBC in 2012 in which a primary topic, ironically, was whether or not Jamie Dimon's firm manipulates the prices of precious metals, and particularly silver.

What followed was - as we know now - an avalanche of lies:

https://www.zerohedge.com/markets/how-jpms-precious-metals-trading-desk-manipulated-markets-crime-ring-within-bank