Wall St. For Main St., Released on 6/25/19
On Tuesday after the close, the CFTC announced that Merrill Lynch Commodities (MLCI), a global commodities trading business, agreed to pay $25 million to resolve the government’s investigation into a multi-year scheme by MLCI precious metals traders to mislead the market for precious metals futures contracts traded on the COMEX (Commodity Exchange Inc.).
Newest Bank Fined Today: Merrill Lynch Caught Criminally Manipulating Precious Metals Market “Thousands Of Times” Over 6 Years https://www.zerohedge.com/news/2019-0…
ONLY $25 MILLION DOLLARS IN FINES FOR 6 YEARS AND LITERALLY THOUSANDS OF MARKET MANIPULATIONS IN PRECIOUS METALS IN THE 6 YEAR SPAN THAT THEY ADMITTED TO??? WTF??? WHAT A ROI ON THE MANIPULATION VS THE FINES!
Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason’s work at his blog website at www.jasonburack.com.