Farashin karafa masu daraja sun kasance tsaka tsaki. Kodayake farashin zinari, azurfa, platinum da palladium sun farfaɗo daga faɗuwar da aka yi a baya-bayan nan, ba su tashi ba.
Na fara aiki na a cikin kasuwar karafa mai daraja a farkon shekarun 1980, bayan fiasco na Nelson da Bunker a cikin neman mallakar azurfa. Hukumar ta COMEX ta yanke shawarar canza ka'idoji na Hunts, wanda ke ƙara zuwa matsayi na gaba, ta amfani da gefe don siyan ƙari da haɓaka farashin azurfa. A cikin 1980, ka'idar ruwa-kawai ta dakatar da kasuwar bijimi kuma farashin ya fadi. Hukumar gudanarwar COMEX ta hada da ’yan kasuwar hannun jari masu tasiri da shugabannin manyan dillalan karafa masu daraja. Sanin cewa azurfa na gab da fadowa, da yawa daga cikin membobin hukumar sun lumshe ido suka yi sallama yayin da suke sanar da teburin cinikinsu. A lokacin tashin hankali na azurfa, manyan kamfanoni sun yi arzikinsu ta hanyar sama da ƙasa. Philip Brothers, inda na yi aiki na tsawon shekaru 20, ya samu kuɗi da yawa wajen cinikin karafa da mai har ya sayo Salomon Brothers, babbar cibiyar ciniki da hada-hadar kuɗi ta Wall Street.
Komai ya canza tun shekarun 1980. Rikicin kuɗi na duniya na 2008 ya ba da damar zuwa Dokar Dodd-Frank ta 2010. Yawancin ayyuka na lalata da rashin da'a waɗanda aka halatta a baya sun zama doka, tare da azabtarwa ga waɗanda suka ketare layi tun daga tara mai girma zuwa lokacin kurkuku.
A halin da ake ciki, babban ci gaba mafi girma a kasuwannin karafa masu daraja a 'yan watannin nan ya faru ne a wata kotun tarayya ta Amurka da ke birnin Chicago, inda wani alkali ya samu wasu manyan jami'an JPMorgan guda biyu da laifuka da dama da suka hada da yaudara, magudin farashin kayayyaki da damfarar cibiyoyin hada-hadar kudi. . inji. Zarge-zarge da yanke hukunci sun shafi mummuna da halayya ta haramtacciyar hanya a cikin kasuwar makomar karafa mai daraja. Wani dan kasuwa na uku zai fuskanci shari’a a makonni masu zuwa, kuma ‘yan kasuwa daga wasu cibiyoyin hada-hadar kudi sun riga sun yanke hukunci ko kuma sun same su da laifi a cikin ‘yan watanni da shekaru da suka gabata.
Farashin karfe mai daraja ba ya zuwa ko'ina. ETFS Physical Precious Metal Basket Trust ETF (NYSEARCA: GLTR) tana riƙe da karafa huɗu masu daraja da aka yi ciniki akan sassan CME COMEX da NYMEX. Wata kotu a baya-bayan nan ta samu wasu manyan ma'aikatan gidan sayar da karafa masu daraja a duniya da laifi. Hukumar ta biya tarar rikodi, amma gudanarwa da shugaban hukumar sun tsallake rijiya da baya. Jamie Dimon mutum ne mai daraja na Wall Street, amma zargin da ake yi wa JPMorgan ya haifar da tambayar: Shin kifin ya lalace daga farko har ƙarshe?
Shari'ar da gwamnatin tarayya ta shigar a kan wasu manyan jami'ai biyu da wani mai siyar da JPMorgan ta bude wata hanya ta yadda cibiyar hada-hadar kudi ta mamaye kasuwar karafa mai daraja a duniya.
Hukumar ta sasanta da gwamnatin tun kafin a fara shari’ar, inda ta biya tarar dala miliyan 920 da ba a taba ganin irinta ba. A halin da ake ciki, shaidun da Ma'aikatar Shari'a ta Amurka da masu gabatar da kara suka bayar sun nuna cewa JPMorgan "ya samu ribar tsakanin dala miliyan 109 zuwa dala miliyan 234 a shekara tsakanin 2008 da 2018." A cikin 2020, bankin ya sami ribar dalar Amurka biliyan 1 ta cinikin zinari, azurfa, platinum da palladium yayin da cutar ta haifar da hauhawar farashin kayayyaki tare da "ƙirƙirar damar sasantawa da ba a taɓa gani ba."
JPMorgan memba ne mai share fage na kasuwar gwal na London, kuma ana ƙayyade farashin duniya ta hanyar siye da siyar da ƙarfe a darajar London, gami da kamfanonin JPMorgan. Bankin kuma babban dan wasa ne a kasuwannin Amurka na COMEX da NYMEX da sauran cibiyoyin kasuwancin karafa masu daraja a duniya. Abokan ciniki sun haɗa da bankunan tsakiya, asusun shinge, masana'anta, masu amfani da sauran manyan ƴan kasuwa.
A yayin gabatar da karar, gwamnati ta danganta kudaden shigar bankin ga daidaikun ‘yan kasuwa da ’yan kasuwa, wadanda kokarinsu ya samu sakamako mai kyau:
Shari'ar ta bayyana riba mai yawa da kuma biyan kuɗi a lokacin. Watakila bankin ya biya tarar dala miliyan 920, amma ribar da aka samu ta zarta barnar da aka samu. A cikin 2020, JPMorgan ya sami isassun kuɗi don biyan gwamnati, ya bar sama da dala miliyan 80.
Mafi munin zarge-zargen da JPMorgan uku suka fuskanta shine RICO da kuma makarkashiya, amma an wanke mutanen ukun. Alkalin kotun ya kammala da cewa masu gabatar da kara na gwamnati sun kasa nuna cewa aniyar ita ce ginshikin yanke hukunci kan hada baki. Tun da Geoffrey Ruffo kawai aka tuhume shi da waɗannan laifuka, an wanke shi.
Michael Novak da Greg Smith wani labari ne. A cikin sanarwar manema labarai mai kwanan wata Agusta 10, 2022, Ma'aikatar Shari'a ta Amurka ta rubuta:
Wani alkali na gwamnatin tarayya na gundumar Arewacin Illinois a yau ta sami wasu tsoffin ‘yan kasuwa masu daraja ta JPMorgan guda biyu da laifin zamba, yunƙurin yin magudin farashi da yaudara na tsawon shekaru takwas a cikin tsarin magudin kasuwa wanda ya ƙunshi kwangilolin karafa masu daraja a nan gaba wanda ya ƙunshi dubban ma’amaloli ba bisa ƙa’ida ba.
Greg Smith, mai shekaru 57, daga Scarsdale, New York, shine babban jami'in gudanarwa kuma mai ciniki na JPMorgan's New York Precious Metals division, bisa ga takardun kotu da shaidun da aka gabatar a kotu. Michael Novak, mai shekaru 47, na Montclair, New Jersey, manajan darakta ne wanda ke jagorantar sashen karafa masu daraja ta JPMorgan.
Shaidu na bincike sun nuna cewa daga kusan watan Mayun 2008 zuwa Agusta 2016, wadanda ake tuhumar, tare da wasu ’yan kasuwa a bangaren karafa masu daraja ta JPMorgan, sun tsunduma cikin yaudara, magudin kasuwa, da kuma makirci na yaudara. Wadanda ake tuhuma sun ba da umarnin sokewa kafin a zartar da hukuncin kisa don tura farashin odar da suka yi niyyar cika zuwa wancan gefen kasuwar. Wadanda ake tuhuma sun shiga dubban cinikin zamba a cikin kwangilolin zinare, azurfa, platinum da palladium da aka yi ciniki a kasuwar New York Mercantile Exchange (NYMEX) da Kayayyakin Kayayyakin Kayayyaki (COMEX), wadanda ke sarrafa su ta hanyar musayar kayayyaki na kamfanonin CME Group. shiga cikin kasuwa bayanan karya da ɓatarwa game da wadatar gaskiya da buƙatun kwangiloli na gaba don karafa masu daraja.
"Hukuncin da alkalai suka yanke a yau ya nuna cewa za a gurfanar da wadanda suka yi yunkurin karkatar da kasuwannin hada-hadar kudi na jama'a kuma za a hukunta su," in ji Mataimakin Babban Lauyan Kasar Kenneth A. Polite Jr. na Sashin Laifukan Ma'aikatar Shari'a. "A karkashin wannan hukunci, Ma'aikatar Shari'a ta yanke hukunci ga wasu tsoffin 'yan kasuwa na kudi na Wall Street guda goma, ciki har da JPMorgan Chase, Bank of America/Merrill Lynch, Deutsche Bank, Bank of Nova Scotia, da Morgan Stanley. Wadannan hukunce-hukuncen sun bayyana kudurin Sashen na gurfanar da wadanda suka kawo cikas ga masu saka hannun jari a cikin sahihancin kasuwannin kayayyakin mu.”
"A cikin shekaru da yawa, wadanda ake tuhuma sun yi zargin sanya dubunnan umarni na karya don karafa masu daraja, suna haifar da dabaru don jawo hankalin wasu zuwa mugunyar ciniki," in ji Luis Quesada, mataimakin darektan sashen binciken manyan laifuka na FBI. Hukuncin na yau ya nuna cewa komai sarkakiya ko na dogon lokaci, hukumar FBI na neman gurfanar da wadanda ke da hannu a irin wadannan laifuka a gaban kuliya.
Bayan gwaji na makonni uku, an sami Smith da laifi guda ɗaya na yunƙurin daidaita farashi, da zamba ɗaya, da zamba ɗaya na kayayyaki, da kuma laifuka takwas na zamba ta waya da suka shafi wata cibiyar kuɗi. An samu Novak da laifuka daya na yunkurin kayyade farashi, da zamba daya, da zamba guda daya, da kuma laifuka 10 na zamba ta waya da suka shafi wata cibiyar kudi. Har yanzu ba a sanya ranar yanke hukunci ba.
Wasu tsoffin ‘yan kasuwa biyu na JPMorgan masu daraja ta karafa, John Edmonds da Christian Trunz, an yanke musu hukunci a baya a shari’o’in da ke da alaƙa. A cikin Oktoba 2018, Edmonds ya amsa laifin da ake tuhuma guda ɗaya na zamba da kuma ƙidaya ɗaya na haɗa baki don yin zamba ta hanyar waya, zamba, daidaita farashin, da yaudara a Connecticut. A watan Agustan 2019, Trenz ya amsa laifin da ake tuhumarsa da shi na hada baki don yin zamba da kuma kirga daya na yaudara a Gundumar Gabashin New York. Edmonds da Trunz suna jiran hukunci.
A cikin Satumba 2020, JPMorgan ya yarda da aikata zamba: (1) cinikin ba bisa ka'ida ba na kwangilar karafa masu daraja a kasuwa; (2) ciniki ba bisa ka'ida ba a cikin Kasuwancin Baitulmalin Amurka da Kasuwar Sakandare ta Baitulmali ta Amurka da Kasuwar Lamuni ta Sakandare (CASH). JPMorgan ya shiga yarjejeniyar shekaru uku da aka jinkirta gabatar da kara, wanda a karkashinta ya biya fiye da dala miliyan 920 na laifukan laifuka, shari'a, da kuma maido da wanda aka azabtar, tare da CFTC da SEC sun sanar da kudurori masu kama da juna a rana guda.
Ofishin FBI da ke New York ne ya binciki lamarin. Sashen tilastawa Hukumar Kasuwancin Futures Trading Commission ta ba da taimako kan wannan lamarin.
Avi Perry, Shugaban Zamba da Manyan Zamba, da Lauyoyin Shari'a Matthew Sullivan, Lucy Jennings da Christopher Fenton na Sashen Zamba na Sashen Laifuka ne ke kula da shari'ar.
Zamba ta waya da ta shafi cibiyar hada-hadar kudi babban laifi ne ga jami'ai, wanda za'a iya yankewa tarar dala miliyan daya da daurin shekaru 30 a gidan yari, ko kuma duka biyun. Alkalin kotun ya samu Michael Novak da Greg Smith da laifuka da dama, da hada baki da kuma yaudara.
Michael Novak shine babban jami'in gudanarwa na JPMorgan, amma yana da shugabanni a cibiyar hada-hadar kudi. Shari’ar gwamnati ta ta’allaka ne da shaidar kananan ’yan kasuwa da suka amsa laifinsu tare da ba masu gabatar da kara hadin gwiwa don kaucewa yanke hukunci mai tsanani.
A halin yanzu, Novak da Smith suna da shugabanni a cibiyar hada-hadar kudi, wadanda ke rike da mukamai har zuwa ciki har da Shugaba da shugaba Jamie Dimon. A halin yanzu akwai mambobi 11 a cikin kwamitin gudanarwa na kamfanin, kuma tarar dala miliyan 920 tabbas lamari ne da ya haifar da tattaunawa a cikin kwamitin gudanarwar.
Shugaba Harry Truman ya taɓa cewa, "Alhaki ya ƙare a nan." Ya zuwa yanzu, ba a bayyana imanin JPMorgan a bainar jama'a ba, kuma hukumar gudanarwa da shugaba/Shugaba sun yi shiru kan batun. Idan dala ta tsaya a saman sarkar, to, dangane da shugabanci, kwamitin gudanarwar yana da akalla wasu alhaki ga Jamie Dimon, wanda ya biya dala miliyan 84.4 a cikin 2021. Laifukan kudi na lokaci daya ana iya fahimta, amma maimaita laifuka fiye da takwas. shekaru ko fiye wani al'amari ne. Ya zuwa yanzu, duk abin da muka ji daga cibiyoyin hada-hadar kudi da ke da jarin kasuwa kusan dala biliyan 360 shi ne crickets.
Yin magudin kasuwa ba sabon abu bane. A cikin kare su, lauyoyin Novak da Mista Smith sun yi jayayya cewa yaudarar ita ce kawai hanyar da 'yan kasuwa na banki, a karkashin matsin lamba daga gudanarwa don haɓaka riba, za su iya yin gasa tare da algorithms na kwamfuta a nan gaba. Alkalin kotun bai amince da hujjojin da ake kare ba.
Manipulation kasuwa ba sabon abu bane a cikin karafa masu daraja da kayayyaki, kuma akwai aƙalla kyawawan dalilai guda biyu da yasa zai ci gaba:
Misali na ƙarshe na rashin haɗin kai na kasa da kasa kan al'amuran doka da shari'a yana da alaƙa da kasuwar nickel ta duniya. A shekarar 2013, wani kamfani na kasar Sin ya sayi kasuwar hada-hadar karafa ta London. A farkon shekarar 2022, lokacin da Rasha ta mamaye kasar Ukraine, farashin nickel ya yi tsalle zuwa wani lokaci sama da dala 100,000 a kowace ton. An samu karuwar ne saboda kamfanin nickel na kasar Sin ya bude wani babban dan gajeren matsayi, yana yin hasashen farashin karafa da ba na tafe ba. Kamfanin na kasar Sin ya yi hasarar dala biliyan 8, amma ya yi asarar kusan dala biliyan 1 kawai. Musayar ta dakatar da ciniki a cikin nickel na ɗan lokaci saboda rikicin da ya haifar da babban adadin gajerun matsayi. Kasashen Sin da Rasha suna taka muhimmiyar rawa a kasuwar nickel. Abin ban mamaki, JPMorgan yana cikin tattaunawa don rage lalacewa daga rikicin nickel. Bugu da ƙari, abin da ya faru na nickel na baya-bayan nan ya zama wani aiki na magudi wanda ya haifar da yawancin ƙananan mahalarta kasuwa suna fama da asara ko yanke riba. Ribar da kamfanin na kasar Sin da masu kudi suka samu ya shafi sauran mahalarta kasuwar. Kamfanin na kasar Sin ya yi nisa daga hannun masu mulki da masu gabatar da kara a Amurka da Turai.
Yayin da jerin kararrakin da ake zargin ‘yan kasuwa da zamba, zamba, magudin kasuwa da sauran zarge-zarge za su sa wasu su yi tunani kafin su tsunduma cikin ayyukan da ba su dace ba, sauran masu shiga kasuwar daga yankunan da ba a kayyade ba za su ci gaba da yin amfani da kasuwar. Yanayin yanayin siyasar da ke kara tabarbarewa zai iya haifar da dabi'ar magudi ne kawai yayin da China da Rasha ke amfani da kasuwa a matsayin makamin tattalin arziki kan abokan gaba na Yammacin Turai da Amurka.
A halin yanzu, karya dangantaka, hauhawar farashin kaya a matakinsa mafi girma a cikin shekarun da suka gabata, da wadata da buƙatu na buƙatu sun nuna cewa ƙarfe mai daraja, wanda ya kasance mai ƙima fiye da shekaru ashirin, zai ci gaba da yin ƙasa mai girma da girma. Zinariya, babban ƙarfe mai daraja, an ƙaddamar da shi a cikin 1999 akan $252.50 oza. Tun daga nan, kowane babban gyara ya kasance damar siye. Rasha ta mayar da martani ga takunkumin tattalin arziki ta hanyar sanar da cewa gram daya na zinari yana goyon bayan 5,000 rubles. A karshen karnin da ya gabata, farashin azurfa a $19.50 bai kai dala 6 oza ba. Platinum da palladium sun samo asali ne daga Afirka ta Kudu da Rasha, wanda zai iya haifar da matsalolin wadata. Maganar ƙasa ita ce karafa masu daraja za su kasance wata kadara da ke amfana daga hauhawar farashin kayayyaki da rikice-rikicen geopolitical.
Jadawalin ya nuna cewa GLTR ya ƙunshi gwal na zahiri, azurfa, palladium da sandunan platinum. GLTR yana sarrafa fiye da dala biliyan 1.013 a cikin kadarorin akan dala 84.60 a kowace kaso. ETF yana cinikin matsakaicin hannun jari 45,291 a kowace rana kuma yana cajin kuɗin gudanarwa na 0.60%.
Lokaci zai nuna idan Babban Jami'in JPMorgan ya biya wani abu don tarar kusan dala $1 da kuma hukuncin biyu daga cikin manyan dillalan karafa masu daraja. A sa'i daya kuma, matsayin daya daga cikin manyan cibiyoyin hada-hadar kudi na duniya yana taimakawa wajen kiyaye matsayin da ake ciki. Wani alkalin tarayya zai yanke wa Novak da Smith hukunci a shekarar 2023 bisa shawarar sashen gwaji kafin yanke hukunci. Rashin samun bayanan aikata laifuka zai iya sa alkali ya yanke wa ma'auratan hukuncin da bai wuce kima ba, amma kididdigar na nufin za su yi hukuncin daurin. Ana kama 'yan kasuwa suna karya doka kuma za su biya farashi. Duk da haka, kifin yakan yi rubewa daga farko zuwa ƙarshe, kuma gudanarwa na iya tserewa da kusan dala biliyan 1 a cikin jarin adalci. A halin yanzu, za a ci gaba da yin magudin kasuwa ko da JPMorgan da sauran manyan cibiyoyin hada-hadar kudi.
Rahoton Kayayyakin Hecht yana ɗaya daga cikin cikakkun rahotannin kayayyaki da ake samu a yau daga manyan marubuta a fagagen kayayyaki, musayar ƙasashen waje da karafa masu daraja. Rahotanni na mako-mako sun rufe motsin kasuwa na kayayyaki daban-daban sama da 29 kuma suna ba da shawara, jajircewa da shawarwari tsaka tsaki, shawarwarin ciniki na jagora da kuma fa'ida mai amfani ga 'yan kasuwa. Ina bayar da farashi mai girma da gwaji kyauta don ƙayyadadden lokaci don sababbin masu biyan kuɗi.
Andy ya yi aiki a kan Wall Street na kusan shekaru 35, ciki har da shekaru 20 a sashen tallace-tallace na Philip Brothers (daga baya Salomon Brothers sannan kuma wani ɓangare na Citigroup).
Bayyanawa: Ni/mu ba mu da hannun jari, zaɓuɓɓuka ko makamancin irin wannan matsayi tare da kowane kamfani da aka ambata kuma ba ma shirin ɗaukar irin waɗannan mukamai cikin sa'o'i 72 masu zuwa. Na rubuta wannan labarin da kaina kuma yana bayyana ra'ayi na. Ban sami wani diyya ba (sai Neman Alfa). Ba ni da wata alaƙar kasuwanci da kowane kamfani da aka jera a cikin wannan labarin.
Ƙarin Bayyanawa: Marubucin ya riƙe mukamai a gaba, zaɓuɓɓuka, samfuran ETF/ETN, da hajoji na kayayyaki a kasuwannin kayayyaki. Wadannan dogayen matsayi da gajerun matsayi suna canzawa cikin yini.