Longtime London Gold Trader: Precious Metals Markets are Paper Derivative Shams

Win 500 Silver Eagle Coins, enter here: Get our FREE SD Bullion Guide: SUBSCRIBE to Our Channel: On the heels of the United States’ Office of the Comptroller of the Currency publicly admitting in the first quarter of 2022, that the major US #PreciousMetals markets are derivative dominated by only a few highly leveraged players... to be more precise, only four counterparty-risk laden commercial banks. The largest being #JPMorgan Chase, then Citibank, Bank of America, and finally Goldman Sachs. At the end of March 2022, they are the counter-party to 97.5% of all US derivatives involving silver, platinum, palladium, and gold price bets... complex derivatives like swaps, options, and futures contracts. The latter holds huge sway over the prices quoted for precious metals around the world. Within the precious metals community, it has long been known that market-