The Federal Energy Regulatory Commission says that JP Morgan has massively manipulated energy markets in California and the Midwest, obtaining tens of millions of dollars in overpayments from grid operators between September 2010 and June 2011.
As shown below, big banks have manipulated virtually every other market as well – both in the financial sector and the real economy – and broken virtually every law on the books.
Commodities Are Manipulated
The big banks and government agencies have been conspiring to manipulate commodities prices for decades.
The big banks are taking over important aspects of the physical economy, including uranium mining, petroleum products, aluminum, ownership and operation of airports, toll roads, ports, and electricity.
And they are using these physical assets to massively manipulate commodities prices … scalping consumers of many billions of dollars each year.
Interest Rates Are Manipulated
Interest rates are rigged:
The big banks have conspired for years to rig interest rates … upon which $800 trillion in assets are pegged
This was the largest insider trading scandal ever … and the largest financial scam in world history
Local governments got ripped off bigtime by the Libor manipulation
Libor is still being manipulated
Derivatives Are Manipulated
The big banks have long manipulated derivatives … a $1,200 Trillion Dollar market.
Indeed, many trillions of dollars of derivatives are being manipulated in the exact same same way that interest rates are fixed: through gamed self-reporting. ...