For over four years on both the  www.Montrealanalyst.com and www.Canadianmineanalysis.com sites, we have stated repeatedly that the brokerages and bankers have been manipulating the price of gold down to keep it down. Yes, it is illegal and if we or you engaged in the same manipulation, we would be sentenced to prison (the “Big  House”) for a long “stretch.”

We also have advised again and again that any person or institution that has their gold bullion held in safekeeping by an institution such as the New York Federal Reserve Bank or any other “safekeeping institution” to request delivery immediately. Keep in mind that it took four years for Germany to finally receive all their gold held ‘safely” in the United States…….

ZeroHedge is one of the most accurate and informative sites available covering numerous subjects. We strongly recommend reading it daily; it is that high quality a site.  www.zerohedge.com…..

                        The ZeroHedge article of June 26, 2019 as follows:

“Merrill Lynch Caught Criminally Manipulating Precious Metals Market ‘Thousands Of Times’ Over 6 Years”   by Tyler Durden, 06/26/2019 – 07:35   ……

Remember when it was pure tinfoil-hat conspiracy theory to accuse one or more banks of aggressively, compulsively and systematically manipulating the precious metals – i.e., gold and silver – market? We do, after all we made the claim over and over, while demonstrating clearly just how said manipulation was taking place, often in real time.

Well, it’s always good to be proven correct, even if it is years after the fact.

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.).

The announcement was made by Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division and Assistant Director in Charge William F. Sweeney Jr. of the FBI’s New York Field Office. In other words, if the Merrill Lynch Commodities group was an individual, he would have gotten ye olde perp walk….

As Merrill Lynch Commodities itself admitted, beginning in 2008 and continuing through 2014, precious metals traders employed by MLCI schemed to deceive other market participants by injecting materially false and misleading information into the precious metals futures market…..

They did so in the now traditional market manipulation way – by placing fraudulent orders for precious metals futures contracts that, at the time the traders placed the orders, they intended to cancel before execution.  In doing so, the traders intended to “spoof” or manipulate the market by creating the false impression of increased supply or demand and, in turn, to fraudulently induce other market participants to buy and to sell futures contracts at quantities, prices and times that they otherwise likely would not have done so. Over the relevant period, the traders placed thousands of fraudulent orders…..

Of course, since we are talking about a bank, and since banks are in charge of not only the DOJ, and virtually every other branch of government, not to mention the Fed, nobody will go to jail and
Merrill Lynch Commodities entered into a non-prosecution agreement and agreed to pay a combined – and measly – $25 million in criminal fines, restitution and forfeiture of trading profits…..

Under the terms of the NPA, Merrill Lynch Commodities and its parent company, Bank of America, have agreed to cooperate with the government’s ongoing investigation of individuals and to report to the Department evidence or allegations of violations of the wire fraud statute, securities and commodities fraud statute, and anti-spoofing provision of the Commodity Exchange Act in Bank of America’s Global Markets’ Commodities Business, whose function is to conduct wholesale, principal trading and sales of commodities…..

Laughably, Merrill Lynch and Bank of America also agreed to enhance their existing compliance program and internal controls, where necessary and appropriate, to ensure they are designed to detect and deter, among other things, manipulative conduct in BAC’s Global Markets Commodities Business…..

Translation: it will be much more difficult to catch them manipulating the market next time.