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📺 Crypto Manipulation Vid 👉 https://www.youtube.com/watch?v=O2TVXRQr-T4
– TIMESTAMPS –
2:38 Manipulation in crypto
6:44 The De Beers diamond cartel
15:43 Dodgy silver markets
18:20 Today’s commodities manipulation
⛓️ 🔗 Useful Links 🔗 ⛓️
► SEC clamp down on Mayweather & DJ Khaled: https://www.sec.gov/news/press-release/2018-268
► De Beers diamond monopoly: https://www.businessinsider.com/history-of-de-beers-2011-12?r=US&IR=T
► N.W. Ayer & De Beers: https://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/304575
► Hunt brothers try and corner silver market: https://www.businessinsider.com/hunt-brothers-trying-to-corner-silver-market-2016-5
► CFTC on JPM’s market manipulation: https://www.cftc.gov/media/4826/enfjpmorganchaseorder092920/download
👻 Manipulation in Crypto 👻
I’m not going to lie; from what I can see there is manipulation happening in crypto markets. You have the pump and dump, exchange wash trading, spoofing, high frequency trading bots and shady marketing tactics.
Those marketing tactics perhaps have the biggest impact on crypto prices. After all, if you have big time celebrities like Floyd Mayweather promoting a crypto project, we cannot be surprised when a ton of his followers buy into it. These celebrity endorsements are still pervasive in the crypto space and that extends to crypto influencers too.
However, all that pales in comparison to what has gone on in commodities markets.
💎 The De Beers Diamond Cartel 💎
Diamonds are one of the oldest commodities out there and were immensely rare until 1869, when a load of them started to be pulled out of the ground in South Africa.
That was a problem for mine owners and the expansion of supply resulted in the falling of the value of the commodity. That caused consolidation in the industry and the formation of De Beers Consolidated Mines LTD. This was a complete monopoly.
In the late 1930s, De Beers looked to expand the demand for the diamond market and targeted the US to increase demand they marketed diamond engagement rings. To this day, most people still think the right price for one is two months of salary. That’s all thanks to a De Beers marketing campaign.
Honestly, watch my vid for more details on how De Beers pulled off one of the greatest forms of price fixing in history.
🥈 Dodgy Silver Markets 🥈
In 1980, the Hunt brothers created one of the biggest financial bubbles in history by attempting to corner the silver market. They manipulated the price from $6 an ounce at the start of 1979 to a staggering $50 an ounce by January 1980.
Jump forward to this section in the video to see how they did that.
🏦 Today’s Commodities Manipulation 🏦
Recently, JP Morgan was slapped with a $920 million fine for manipulating precious metals markets. The astonishing thing is that people were talking about this for ages and were written off as conspiracy theorists. Turns out they were right.
That manipulation happened between 2009 and 2016 – so, 7 years of funny business.
The emails and chats uncovered by the CFTC showed traders coordinating with each other to manipulate those commodity prices. It also turns out that other banks like Barclays, UBS, Deutsche Bank, HSBC, Morgan Stanley and more were all fined for commodities manipulation recently.
Indeed, it seems those bankers cannot help themselves.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#crypto #commodities #diamonds #manipulation #gold #silver