Big Banks Manipulated Energy Markets In California and the Midwest … Ripping Off Tens of Millions of Dollars in 9 Months

Energy Markets Are Manipulated

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:

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.

Currency Markets Are Rigged

Currency markets are massively rigged.

Gold and Silver Are Manipulated

The Guardian and Telegraph report that gold and silver prices are “fixed” in the same way as interest rates and derivatives – in daily conference calls by the powers-that-be.

Oil Prices Are Manipulated

Oil prices are manipulated as well.

Everything Can Be Manipulated through High-Frequency Trading

Traders with high-tech computers can manipulate stocks, bonds, options, currencies and commodities. And see this.

Manipulating Numerous Markets In Myriad Ways

The big banks and other giants manipulate numerous markets in myriad ways, for example:

  • Engaging in mafia-style big-rigging fraud against local governments. See this, this and this
  • Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide. Details here, here, here, here, here, here, here, here, here, here, here and here
  • Pledging the same mortgage multiple times to different buyers. See this, this, this, this and this. This would be like selling your car, and collecting money from 10 different buyers for the same car
  • Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this, this, this, this and this
  • Engaging in unlawful “Wash Trades” to manipulate asset prices. See this, this and this
  • Participating in various Ponzi schemes. See this, this and this
  • Bribing and bullying ratings agencies to inflate ratings on their risky investments

The Big Picture

The big picture is simple:

  • The big banks manipulate every market they touch
  • The government has given the banks huge subsidies … which they are using for speculation and other things which don’t help the economy. In other words, propping up the big banks by throwing money at them doesn’t help the economy
  • The big banks own the D.C. politicians … so Congress and the White House won’t do anything unless the people force change
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  • colinjames71

    Otherwise known as Monday, Tuesday, Wednesday, Thursday, and Friday. Or, it’s (insert day of week here), do you know what your big banks are doing… to rip you off?

    • RJ O’Guillory

      …contact a Lawyer Named Liz Barris…she has started a class-action suit against all of these utilities based upon the forced introduction of “smart meters” which are being used to rip you off from a financial standpoint…and in many cases…may be making yourself or members of your family ill…due to the electromagnetic-field being produced….you can find Ms. Barris on line…and the utility companies hate it….


      RJ O’Guillory
      Webster Groves – The Life of an Insane Family

      • colinjames71

        Thanks. I’ll have to keep that name handy for advice when they try that sh*t here in WA state. I grew up in Cali though, still consider it home. Was pretty shocked to learn about the insidious nature of the SMs, even w/o the EMF danger.

  • gozounlimited

    We are living in an era of metals poisoning, chemicals poisoning and information poisoning

    The cumulative effect of metals poisoning, fluoride poisoning, pesticide poisoning, vaccine poisoning and food additive poisoning is biochemical brain damage.

    We are living in a society where 90% or more of the population is literally brain damaged beyond
    repair. This is why irrationality has gone wild everywhere you look. It’s why people keep buying the same poisons that have already poisoned them while turning to medications to mask the symptoms of that poisoning, thereby poisoning themselves even further with the meds…….

  • It was one big accident don’t you know? They accidentally got rich.

  • Tonto

    The securitization of any industry bleeds that industry until it dies.

    This is exactly what happened to Detroit. The securitization of the auto industry destroyed the American auto industry. And the business leaders in Detroit, Royal Oak, Ann Arbor, Flint, Birmingham and Bloomfield Hills Michigan were all just too stupid to stop it, because it looked like a great way to to get rich quick.

    And now the whole country is being securitized by stimulus packages that are bleeding the populace until they die…

    Stop borrowing money, folks. Live within your means. Refuse to endorse any government bonding issues. And demand your Congress creeps never raise the debt ceiling again. Pay off debt. And cut all the government freebies.

    It may look like a good deal. But even your student loans are enslaving you.

  • KarenHudes

    I have been reporting this corruption for fifteen years. See and The 188 Ministers of Finance have ended this racket. Stay tuned.

    • terry1956

      Thanks,Karen for your work.

  • KarenHudes

    My first link was censored by Google docs. Here is the correct document:

  • terry1956

    You made a lot of good points but you got the defacto ownership wrong.
    The poltical class majority ( dems and reps) in DC owns the banks and Wall Street and they assume they own us.