”since 2018 the Financial Stability Desks at the world’s central banks have followed the Bank for International Settlements’ (BIS) instruction to hide the perception of inflation by rigging the gold market.”

So there you have it. Five massive banks that are apparently above the law pay a combined paltry sum of $152 million (about $30 million per head) while presumably having earning many many multiples of that sum while engaged in gold price trading over a 10 year period, and then walk scot-free since they have the deep enough pockets to each buy a ‘Get out of Jail Free’ card. They also get to “Pass Go" again and again, while continuing to collecting the proverbial £200.

Former Deutsche Bank AG analyst David Liew told a Chicago jury he learned how to manipulate gold and silver prices from the two successful senior traders he admired and worked with for about three years.

Bank of Nova Scotia has reached settlement agreements with the U.S. Department of Justice and the Commodity Futures Trading Commission over charges of metals market manipulation.

The fines and enforcement actions stem from an investigation into Scotia’s metals trading division. American authorities said that on thousands of occasions between January 2008 and July 2016, four Scotiabank traders placed orders to buy and sell precious metals contracts with the intent to cancel those orders in an attempt to manipulate prices. The traders were based in New York, London and Hong Kong, according to the U.S. Department of Justice.

As the Department of Justice pointed out, every one of the banks or their subsidiaries referred to in gold and silver spoofing charges are 'primary members' of the Financial Industry Association FIA: JP Morgan Chase, Bank of America, Morgan Stanley, Scotiabank and Deutsche Bank, as are each of the banks defending the London gold and silver fixing anti trust lawsuits: Scotiabank, BNP Paribas, Societe Generale, Barclays, HSBC and UBS formerly.

Another JPMorgan Chase & Co. official was charged in the U.S. probe of the bank's precious metals trading operation.

The allegations are part of a broader investigation of market spoofing that has now resulted in charges against six bank employees.

The UK Financial Conduct Authority (FCA) is one of the various authorities that JPMorgan has previously said were investigating its metals trading, according to one of the people, who declined to be named due to the sensitivity of the matter. The watchdog has requested documents and other information from JPMorgan, the source said.

“The London Bullion Market Association has removed Michael Nowak, JPMorgan’s head of precious metals trading, from its board after he was indicted by the US Department of Justice for a “massive, multiyear scheme” to manipulate the precious metals markets.

Michael Nowak, JP Morgan Chase managing director and head of the bank’s global precious metals desk, who is also a Board member of the London Bullion Market Association (LBMA), has just been indicted & charged by the US Department of Justice (DoJ) with manipulating the prices of precious metals-futures contracts over an 8 year period.

U.S. prosecutors took an unusually aggressive turn in their investigation of price fixing at JPMorgan Chase & Co., describing its precious metals trading desk as a criminal enterprise operating inside the bank for nearly a decade.