Amanani entengo ayigugu ayigugu awathathi hlangothi. Yize amanani entengo egolide, isiliva, iplatinamu ne-palladium alulame emithonjeni yakamuva, awaphumi.
Ngiqale umsebenzi wami wemakethe yensimbi eyigugu ekuqaleni kweminyaka yo-1980, ngemuva nje kokufutheka kukaNelson naseBunker ekuphishekeleni kwabo isiliva. Ibhodi leComex inqume ukuguqula imithetho yokuzingela, owayenezela ezikhundleni zesikhathi esizayo, esebenzisa imajini yokuthenga okuningi futhi acindezele amanani entengo yesiliva. Ngo-1980, umthetho we-Liquidiwation-kuphela wama imakethe yezinkunzi kanye namanani awohlokile. Ibhodi yabaqondisi beComex ifaka abathengisi bezintho ezinethonya namakhanda abathengisi bensimbi abayigugu. Ukwazi ukuthi isiliva lalizophahlazeka, amalungu amaningi eBhodi aqhamuke anikine ikhanda njengoba ekwazisa amadeski awo okuhweba. Ngezikhathi zesiyaluyalu zesiyaluyalu, izinkampani eziholayo zenza ingcebo yazo ngezikhathi ezithile nakwehla. Abafowethu bakwaFiliphu, lapho ngasebenza khona iminyaka engama-20, benza imali engaka imali ethengisa izinsimbi eziyigugu namafutha athengile ama-salomon bafowethu, isikhungo sokuhweba esithengiswayo soWall Street.
Konke sekushintshile kusukela ngawo-1980s. Inkinga yezezimali yomhlaba wonke ka-2008 yanikela ngoMthetho weDodd-Frank eDrank ka-2010. Izenzo eziningi zokuziphatha okubi nezingaziphathisiwe ezakuvunyelwe esikhathini esedlule ziye zavela emvelweni, kanye nezinhlawulo zalabo abanqamula izinhlawulo zejele.
Ngaleso sikhathi, intuthuko ebaluleke kakhulu ezimakethe zezinsimbi eziyigugu ezinyangeni ezisanda kwedlula zenzeka enkantolo ye-US Federal eChicago, lapho ama-jury athola khona inkohliso, ukufaka inkohliso, ukukhohlisa kwentengo yezezimali kanye nokukhohlisa izikhungo zezezimali. . indlela. Amacala nezinkolelo zihlobene nokuziphatha okungekho emthethweni nasekucacile emakethe yesikhathi esizayo ye-Metals futures. Umhwebi wesithathu kungenxa yokuqulwa kwecala emavikini azayo, futhi abathengisi abavela kwezinye izikhungo zezezimali selitholile benecala noma batholwe benecala ngokwezinyanga ezimbalwa ezedlule.
Amanani entengo e-Precious Metal awahambi ndawo. I-ETFS ebonakalayo yensimbi ye-basket basket trust etf (ngtr Inkantolo yakamuva yathola abasebenzi abasezingeni eliphakeme be-Precious Precious Trading Trading House abanecala. I-ejensi ikhokhise inhlawulo yerekhodi, kepha abaphathi kanye ne-CEO yaphunyuka ekujezisweni okuqondile. UJamie Dimon ungumgogodla walodonga oluhlonishwayo, kepha izinsolo ezibhekene noJPMORGAN ziphakamisa umbuzo: Ngabe izinhlanzi zibolile kusukela ekuqaleni kuze kube sekupheleni?
I-Federal Conteit yokulwa nabaphathi ababili abaphezulu kanye nomthengisi weJPMorgan bavulela iwindi kwizikhungo zomhlaba wonke zezezimali zemakethe yensimbi eyigugu.
I-ejensi yazinza nohulumeni isikhathi eside ngaphambi kokuba icala liqale, likhokhe kahle ama- $ 920 million. Ngaleso sikhathi, ubufakazi obunikezwe nguMnyango Wezobulungiswa Nabashushisi base-US bakhombisa ukuthi iJPMorgan "yenza inzuzo yonyaka phakathi kwama- $ 109 million aphakathi kwezigidi ezingama- $ 234 phakathi kuka-2008 no-2018." Ngo-2020, iBhangengodla lenze igolide lezinkulungwane eziyizigidi eziyizinkulungwane eziyizigidi eziyizinkulungwane eziyi-1
I-JPMorgan yilungu elicwengekile le-London Gold Market, kanye namanani omhlaba anqunywa ngokuthenga nokuthengisa insimbi eLondon Value, kufaka phakathi amabhizinisi e-JPMorgan. IBhangengodla libuye libe ngumdlali omkhulu ezimakethe ze-US Comex naseNymex future futures kanye nezinye izikhungo zokuhweba zensimbi eziyigugu emhlabeni jikelele. Amaklayenti afaka amabhange aphakathi, imali yethango, abakhiqizi, abathengi kanye nabanye abadlali abakhulu bemakethe.
Lapho ethula udaba lwayo, uhulumeni wabopha imali engenayo ebhange kubathengisi nabathengisi abathile, abathengisi bayo, abake bekhokha imizamo yabo ebekwe:
Icala liveze inzuzo enkulu nezinkokhelo ngesikhathi. Kungenzeka ukuthi ibhange likhokhe inhlawulo engu- $ 920 million, kepha inzuzo iveze umonakalo. Ngo-2020, uJPMORGAN wenza imali eyanele yokukhokha uhulumeni, eshiya imali engaphezu kuka- $ 80 million.
Izinsolo ezibucayi kakhulu i-JPMorgan Trio ebhekene nazo zaziyiRico ne-Consuracy, kepha iTrio yatholwa. Ijaji liphetha ngokuthi abashushisi bakahulumeni behlulekile ukukhombisa ukuthi inhloso kwakuyisisekelo sokuqiniseka ngokwakha uzungu. Njengoba uGeoffrey Ruffro abhekene necala kuphela ngalezi zindleko, wadedelwa.
UMichael Novak noGreg Smith bangenye indaba. Ekukhishweni kwabezindaba ngo-Agasti 10, 2022, uMnyango Wezobulungiswa wase-US wabhala:
I-Federal Jury yesiFunda saseNyakatho ye-Illinois namuhla yathola abadlali ababili be-jpmorgan abayigugu le-jpmorgan kanye nenkohliso iminyaka eyisishiyagalombili kwisikimu sokukhohlisa impahla esibandakanya izinkontileka eziwusizo zensimbi ezibandakanya izinkulungwane zokuthengiselana okungekho emthethweni.
UGreg Smith, 57, waseScasdale, eNew York, kwakuyisikhulu esiphezulu nomthengisi we-jpmorgan's New York Precious Division, ngokuya ngemibhalo yenkantolo kanye nobufakazi obethulwe enkantolo. UMichael Novak, 47, waseMontclair, New Jersey, ungumqondisi ophethe ohola ama-jpmorgan omhlaba jikelele we-jpmorgan emhlabeni jikelele.
Ubufakazi be-Forensic bukhombisa ukuthi kusuka cishe ngoMeyi 2008 kuya ku-Agasti 2016, abamangalelwa, kanye nabanye abathengisi eJPMORGgan's Precious Tires Division, babambe iqhaza ekukhohlisweni okuningana, ukukhwabanisa kwemakethe kanye nezinkohliso zokukhwabanisa. Abamangalelwa bafake ama-oda babehlose ukukhansela ngaphambi kokubulawa kwentengo ye-oda ababehlose ukuligcwalisa ngakolunye uhlangothi lwemakethe. Abamangalelwa bahlanganyela ezinkulungwaneni zokuhweba ngenkohliso ezinkontilekeni zesikhathi esizayo zegolide, isiliva, iplatinamu kanye nePalladium abathengiswe kwiNew York Mercantile Exchange (Nymex) kanye nokushintshaniswa kwezimpahla izinkampani zeqembu le-CME. Ngena emakethe yamanga futhi edukisa ulwazi mayelana nokunikezwa kwangempela kanye nesidingo sezinkontileka zekusasa lezinsimbi eziyigugu.
"Isinqumo sanamuhla seJury sibonisa ukuthi labo abazama ukukhohlisa izimakethe zethu zomphakathi bazoshushiswa futhi baphendulwa ngokuziphendulela," kusho ummeli General General Kenneth A. I-Jork. "Ngaphansi kwalesi sinqumo, umnyango wobulungiswa walahlwa yishumi owayekade owayengumgwaqo owayeyishumi odongeni, kufaka phakathi i-JPMorgan Chase, ama-mornch stanley agqamisa ukuzibophezela koMnyango ukushushisa ubuhlakani bezimakethe zethu zezimpahla."
"Kuyo yonke le minyaka, ama-Deffentis athi izinkulungwane zibeke izinkulungwane zemiyalo eyimbumbulu yezinsimbi eziyigugu, zakha amaqhinga ukuze zinxephezele abanye baba amadili amabi," kusho uLuis Quesada, umqondisi osizayo wokwahlukana kobugebengu kuka-FBI ubugebengu. "Isinqumo sanamuhla sibonisa ukuthi noma ngabe uhlelo luyinkimbinkimbi noma isikhathi eside, i-FBI ifuna ukuletha ubulungiswa nalabo ababandakanyeka ezintweni ezinjalo."
Ngemuva kwecala lamasonto amathathu, uSmith watholakala enecala elilodwa lokuzama ukulungiswa kwamanani, ukubalwa kwenkohliso, ukubalwa okukodwa kokukhwabanisa kwezimpahla, kanye namanani ayisishiyagalombili okukhwabanisa ngocingo okubandakanya isikhungo sezimali. UNovak watholakala enecala elilodwa lokuzama ukulungiswa kwamanani, ukubalwa kwenkohliso, ukubalwa okukodwa kokukhwabanisa kwezimpahla, kanye namacala ayi-10 wokukhwabanisa ngocingo okubandakanya isikhungo sezimali. Usuku lokugwetshwa alukakamiswa.
Abanye ababili abathengisi be-jpmorgan abakhethekile be-jpmorgan, uJohn Edmonds noChristian Trunz, phambilini batholwa benecala ngamacala ahlobene nawo. Ngo-Okthoba 2018, ama-Edmond avumile icala elilodwa lokukhwabanisa okuthengiswayo kanye nokubalwa okukodwa kokwenza uzungu lokukhwabanisa, inkohliso yezimpahla, ukulungiswa kwamanani, nokukhohlisa kwenkohliso eConnecticut. Ngo-Agasti 2019, uTrenz wavuma icala elilodwa lokubala uzungu lokwenza inkohliso kanye nesibalo esisodwa sokukhohlisa esifunda saseMpumalanga eNew York yaseNew York. Ama-Edmonds noTrunz balindele isigwebo.
NgoSepthemba 2020, uJPMORGAN ungeniswe ekwenzeni inkohliso yocingo: (1) ukuthengiswa okungekho emthethweni kwezinkontileka zesikhathi esizayo zemakethe endaweni yemakethe; (2) Ukuhweba okungekho emthethweni emakethe yesikhathi esizayo seMgcinimafe UJPMORgan wangena esivumelwaneni seminyaka emithathu ehlisiwe sokushushiswa lapho kukhokha imali engaphezu kwama- $ 920 ezinhlawulweni zobugebengu, ukushushiswa, kanye nokubuyiselwa kwezisulu, ne-CFTC kanye ne-sec ememezela izinqumo ezifanayo ngosuku olufanayo.
Leli cala liphenywe yihhovisi le-FBI lendawo eNew York. Isigaba sokuphoqelelwa kwe-CommoRomity Futures Commission sinikeze usizo kule ndaba.
Leli cala liphathwa ngu-Avi Perry, inhloko yenkohliso yemakethe kanye nokukhwabanisa okukhulu, kanye nabameli bamacala uMathewu Sullivan, uLucy Jennings kanye ne-Christopher deenton yehlukaniso lokukhwabanisa lokukhwabanisa kwecala lobugebengu.
Ukukhwabanisa ngentambo okubandakanya isikhungo sezimali kuyicala elikhulu kwizikhulu, okujeziswa yinhlawulo efinyelela ku- $ 1 million kanye nokuboshwa okufika eminyakeni engama-30, noma zombili. Ijaji lathola uMichael Novak noGreg Smith abanecala lobugebengu obuningi, ukuzungeza nenkohliso.
UMichael Novak yisigungu esiphezulu kakhulu sakwaJpmorgan, kepha unabaphathi esikhungweni sezimali. Icala likaHulumeni lilinamathela ebufakazini babahwebi abancane abalivumile icala futhi basebenzisana nabashushisi ukugwema izigwebo ezihanjiswa.
Ngaleso sikhathi, uNovak noSmith banabaphathi esikhungweni sezimali, bephethe izikhundla kuze kube futhi bafaka no-CEO noSihlalo uJamie Dimon. Njengamanje kunamalungu ayi-11 ebhodini labaqondisi leNkampani, kanti ama- $ 920 million amahle ngokuqinisekile awomcimbi owakhalisa ingxoxo ebhodini labaqondisi.
UMongameli uHarry Truman wake wathi, "Kuphela umthwalo wemfanelo lapha." Kuze kube manje, izinkolelo zikaJpmorgan azikaze zenziwe zibe ngumphakathi, futhi iBhodi noSihlalo / Isikhulu se-CEO sebethule ngale ndaba. Uma idola lima phezulu kweketanga, khona-ke ngokwemibandela yokubusa, ibhodi yabaqondisi inomthwalo wemfanelo othile we-Jamie Dimon, okhokha ama-20 84,4 wezigidi eziqondakalayo, kepha ubugebengu obuphindaphindwayo obungaphezulu kweminyaka eyisishiyagalombili noma ngaphezulu kungenye yezinto eziyisishiyagalombili. Kuze kube manje, konke esikuzwile ezikhungweni zezezimali nge-capitalization yemakethe cishe ama- $ 360 billion amakhilikithi.
Ukukhokhwa kwemakethe akuyona into entsha. Ekuvikelweni kwabo, abameli bakwaNovak noMnu. Smith bathi ukuphela kwendlela abathengisi basebhange, ngaphansi kwengcindezi evela kubaphathi ukwandisa inzuzo, bangancintisana nama-algorithms ekhompyutha esikhathini esizayo. Ijaji alizange lizemukele izimpikiswano zokuzivikela.
Ukukhokhwa kwemakethe akuyona into entsha ezinsimbi eziyigugu nezimpahla, futhi okungenani kunezizathu ezimbili ezinhle zokuthi kungani kuzoqhubeka:
Isibonelo sokugcina sokuntuleka kokuxhumana kwamanye amazwe ezindabeni ezilawulayo nezomthetho zihlobene nemakethe ye-nickel yomhlaba. Ngo-2013, inkampani yaseChina yathenga iLondon Metal Exchange. Ekuqaleni kuka-2022, lapho iRussia ihlasela i-Ukraine, amanani entengo e-nickel agxumela esikhathi sonke esiphakeme ngaphezulu kwama- $ 100,000. Ukwanda bekubangelwa iqiniso lokuthi inkampani ye-nickel yaseChina yavula isikhundla esikhulu esifushane, icatshangelwa ngentengo yezinsimbi ezingezona ze-FERROS. Inkampani yaseChina iveze ukulahleka okungama- $ 8 billion kepha yagcina iphuma ngokulahlekelwa yimali ecishe ibe ngama- $ 1 billion. Ukushintshana okwesikhashana ukumiswa okwesikhashana ukuhweba nge-nickel ngenxa yenkinga ebangelwa inani elikhulu lezikhundla ezimfushane. I-China neRussia bangabadlali ababalulekile emakethe ye-nickel. Kuyamangaza ukuthi iJPMORGAN isezinhlakeni zokunciphisa umonakalo ovela enkingeni ye-nickel. Ngaphezu kwalokho, isigameko sakamuva se-nickel saphenduka isenzo esikhohlisayo esaphumela kubahlanganyeli abaningi bemakethe abancane abalahlekelwe ukulahleka noma inzuzo yokusika. Inzuzo yenkampani yaseChina nabathengisi bayo bathinta abanye abahlanganyeli bemakethe. Inkampani yaseChina ikude kakhulu nezinduna zabalawuli kanye nabashushisi e-US naseYurophu.
Ngenkathi uchungechunge lwecala lokusola abathengisi bokukopela, ukukhwabanisa, ukukhohlisa kwemakethe nezinye izinsolo kuzokwenza abanye bacabange kabili ngaphambi kokuba bahlanganyele emisebenzini engekho emthethweni, abanye abahlanganyeli bemakethe abavela emisebenzini engalawulwa bazoqhubeka nokukhohlisa imakethe. I-Geopolitical Landscape eyabi kakhulu ingakhulisa kuphela ukuziphatha okukhohlisayo njengoba iChina neRussia zisebenzisa imakethe njengesikhali sezomnotho ngokumelene nezitha zaseNtshonalanga European naseMelika.
Ngaleso sikhathi, ubudlelwane obuphukile, ukwehla kwamandla emali ezingeni eliphakeme emashumini eminyaka, futhi okufunwa kanye nezimali eziyisisekelo kuphakamisa ukuthi insimbi eyigugu, ebikade i-bullish isikhathi esingaphezu kwamashumi amabili, izoqhubeka nokwenza imicibisholo ephezulu kanye nokuphakama okuphezulu. Igolide, insimbi eyigugu eyigugu, ephansi ngo-1999 ngo- $ 252.50 i-ounce. Kusukela lapho, wonke ukulungisa okukhulu kube yithuba lokuthenga. I-Russia iphendula izithembiso zomnotho ngokumemezela ukuthi i-gram eyodwa yegolide ixhaswa ama-ruble angama-5,000. Ekupheleni kwekhulu leminyaka elidlule, intengo yesiliva ku- $ 1950 ibingaphansi kwama- $ 6 i-ounce. IPlatinamu nePalladium batholwa eSouth Africa naseRussia, okungadala izingqinamba. Umugqa ongezansi ukuthi izinsimbi eziyigugu zizohlala ziyimpahla ezuzayo ekukhuphukeni kwamanani emali nasendaweni yokuhlala.
Igrafu ikhombisa ukuthi i-gltr iqukethe igolide elingokwemvelo, isiliva, i-palladium kanye neplatinamu imigoqo. I-GLTR ilawula ngaphezulu kwama- $ 1.013 billion ezimpahleni ku- $ 84.60 share ngayinye. I-ETF ihweba ngokwesilinganiso amasheya angama-45,291 ngosuku futhi akhokhise imali yokuphatha engu-0.60%.
Isikhathi sizosho uma i-GPMOrgan CEO ikhokha noma yini lapho ama- $ 1 amakholwa anezinkulumo ezikholweni zabathengisi ababili abaphezulu bezinsimbi eziyigugu. Ngasikhathi sinye, isimo senye yezikhungo zezezimali ezihamba phambili emhlabeni zisiza ukugcina isimo se-Quo. Ijaji le-Federal lizogweba uNovak noSmith ngonyaka we-2023 ngeseluleko somnyango we-probation ngaphambi kwesigwebo. Ukuntuleka kwerekhodi lobugebengu kungahle kuholele ekwahluleleni okunikeza lo mbhangqwana kwalawa ngaphansi kwesilinganiso esiphezulu, kepha kusho umtayela ukuthi bazowusebenzela isigwebo sabo. Abathengisi babanjwa bephula umthetho futhi bazokhokha inani. Kodwa-ke, izinhlanzi zivame ukubola kusuka ekuqaleni kuze kube sekupheleni, futhi abaphathi bangakwazi ukubaleka cishe ngama- $ 1 billion enhlokodolobha yokulingana. Okwamanje, ukukhohlisa kwemakethe kuzoqhubeka noma ngabe i-JPMORGAN kanye nezinye izikhungo ezinkulu zezezimali.
Umbiko we-HECHT Commority ungomunye wemibiko ephelele yezimpahla etholakalayo namuhla kusuka kubabhali abaholayo emasimini ezimpahla, ukushintshana kwangaphandle kanye nezinsimbi eziyigugu. Imibiko yami yamasonto onke ikhava ukunyakaza kwemakethe kwezimpahla ezingaphezu kuka-29 ezahlukahlukene futhi zinikeze izincomo ze-bullish, nobudlova kanye nokungathathi hlangothi, amathiphu wokuhweba aqondisayo kanye nokuqonda okusebenzayo kwabathengisi. Nginikeza amanani amahle kanye nesivivinyo samahhala isikhathi esinqunyelwe sababhalisile abasha.
U-Andy wasebenza eWall Street cishe iminyaka engama-35, kufaka phakathi iminyaka engama-20 eMnyangweni Wezokuthengisa Wabathengisi bakwaFiliphu (kamuva abafowethu beSalomon bese engxenyeni yeCitigroup).
Ukudalulwa: Mina / asinaso isitoko, izinketho noma izikhundla ezivela kuma-derivatives afanayo nanoma yiziphi izinkampani ezishiwo futhi azihleleli ukuthatha izikhundla ezinjalo emahoreni angama-72 alandelayo. Ngibhale le ndatshana uqobo futhi ngiveza umbono wami. Angitholanga isinxephezelo (ngaphandle kokufuna i-Alfa). Anginabo ubudlelwano bebhizinisi nanoma yiziphi izinkampani ezisohlwini kule ndatshana.
Ukudalulwa Okungeziwe: Umbhali uphethe izikhundla esikhathini esizayo, izinketho, imikhiqizo ye-ETF / ETN, nezitoko zezimpahla ezimakethe zezimpahla. Lezi zikhundla ezinde nezifushane zivame ukuguquka usuku lonke.