Amaxabiso eentsimbi exabisekileyo ayengathathi cala. Nangona amaxabiso egolide, isilivere, iplatinam ne-Plalladium ibuyele kwi-lows yakutshanje, ayiphumanga.
Ndiqalise umsebenzi wam kwintengiso yeZinyithisi ezixabisekileyo ekuqaleni kweminyaka yoo-1980, nje emva kwe-fiasmon kaNelson neBuner ekufumaneni isilivere. IBhodi yeBemex yagqiba kwelokuba itshintshe imithetho yokuzingela, eyayisongela kwizikhundla zokuhlala, esebenzisa umda wokuthenga okungaphezulu kwaye utyhale amaxabiso esilivere. Ngo-1980, umthetho - umthetho kuphela omise imakethi yenkomo kunye namaxabiso axhonywa. IBhodi yaBalawuli yeBemex ibandakanya abarhwebi abaziphetheyo kunye neentloko zamatyala abalulekileyo. Ukwazi ukuba isilivere yayizakuphazamisa, uninzi lweBhodi lwalugquma kwaye lwaza lwavuma njengoko babazisile iidesika zabo zokurhweba. Ngexesha lesiphithiphithi sesilivere, iinkampani ezikhokelayo zenza ubuncwane babo kwiindawo eziphakamileyo. Abazalwana bakaFilipu, apho bendisebenza khona iminyaka engama-20, ndenze imali eninzi yokurhweba ixabisekileyo neoyile eyayithenga abazalwana bakaSalomon, iziko lebhanki leWall.
Yonke into itshintshile ukusukela kwiminyaka yoo-1980. Ingxaki yemali yehlabathi ka-2008 yenziwa kwi-Dod-Frank-Frank ngo-2010. Izenzo ezininzi ezinokubakho kwizenzo ezivumelekileyo kwixesha elidlulileyo ziye zangena kwilayini ukusuka kwi-Hiily Ixesha lokuya ejele.
Okwangoku, olona phuhliso lubalulekileyo kwiimarike zemali ezixabisekileyo kwiinyanga zamva nje zenzeka kwiNkundla yase-US Federal eChicago, apho ijaji ye-Jicmorgan) inetyala, amaziko enkohliso yenkohliso kunye namaziko emali yenkohliso. . umatshini. Izityholo kunye neenkolelo zihambelana nokuziphatha okungekho mthethweni kunye nokungalungisi kwimarike yexesha elizayo. Umrhwebi wesithathu ubangelwa kukuvavanywa kweeveki ezizayo, kwaye abarhwebi ukusuka kwamanye amaziko ezemali sele begwetyiwe okanye bafunyaniswe ngetyala ngejele kwiinyanga ezimbalwa ezidlulileyo.
Amaxabiso esinyithi axabisekileyo akahambi ndawo. I-ETF ye-ETF ye-Betf yentsimbi yentsimbi yentsimbi (Nysearca: GLTR) ibambe izinyithi ezine ezixabisekileyo ezithengiswe kwi-CMEX ye-CME ye-CME kunye ne-nymex. Inkundla yakutshanje ifumene abasebenzi abakwinqanaba eliphezulu lehlabathi eliphakamileyo lezinyithi zendlu enetyala. I-Arhente ihlawule irekhodi, kodwa ukuphatha kunye ne-CEO yasindisa isohlwayo esingaphezulu. UJamie Dimon sisitrato esihlonitshwayo esitratweni, kodwa izityholo ngokuchasene neJPmorgan iphakamisa umbuzo: Ngaba iintlanzi azibolileyo ukusuka ekuqaleni?
Umthetho we-Federal nxamnye nabaphathi ababini abaphambili kunye nomthengisi we-jpmorgan wavula iwindow kwi-windows yeziko lezezimali lentengiso yentengiso yeZinyithi zeZinyithi zeZinyithi zeZinyithisi ezixabisekileyo.
I-arhente ihleli kurhulumente ngaphambi kokuba kuqalise intengo, ihlawule i-90 yezigidi zeedola ezingama-920. Okwangoku, ubungqina obunikezwe liSebe lezoBulungisa base-US kunye nabatshutshisi babonisa ukuba i-Jpmorgan "yenze inzuzo yonyaka phakathi kwe- $ 109 yezigidi kunye ne- $ 234 yezigidi phakathi kuka-2008 nango-2018. Ngo-2020, ibhanki yenze igolide enye yegolide, isilivere, iplatinam kunye ne-pilladium njengexabiso lamaxabiso ebhuleshi phezulu kwaye "wadala amathuba angazange aye ngaphambili."
I-Jpmorgan lilungu elicacileyo lemakethi yegolide yaseLondon, kwaye amaxabiso ehlabathi amiselwa ngokuthenga kwaye athengise intsimbi kwixabiso leLondon, kubandakanya amashishini e-JPMMMORNG. I-Bhanki ikwangumdlali ophambili kwi-US Gemex kunye ne-Nymex Imakethi kunye namanye amaziko orhwebo axabisekileyo kwihlabathi liphela. Abathengi baquka iibhanki eziphambili, iimali ze-hedge, abavelisi, abathengi kunye nabanye abadlali beentengiso ezinkulu.
Ekwangoku, urhulumente wabopha ingeniso yeBhanki kubarhwebi abathile nabathengisi, abahlawulwa kakhulu:
Ityala lityhile inzuzo ebalulekileyo kunye neentlawulo ngeli xesha. I-Bhanki isenokuba ihlawule i-90 yezigidi zeedola, kodwa iingeniso zangaphezulu komonakalo. Ngo-2020, iJPmorgan yenza imali eyaneleyo yokuhlawula urhulumente, ishiya ngaphezulu kwe- $ 80 yezigidi.
Esona sityholo esinzulu i-jpmorgan i-Jpmorgan Trio yayinguRico kwaye iyelenqe, kodwa i-trio yakhululwa. I-jury yagqiba kwelokuba abatshutshisi bakarhulumente basilela ukubonisa loo njongo yayisisiseko sokuqiniseka kwelecebo. Kuba i-geoffrey ruffo ityholwa kuphela kwezi ntlawulo, yakhululwa.
UMichael Novak noGreg Smith lelinye ibali. Kwindawo yokukhululwa kweendaba nge-10 ka-Agasti 10, 2022, isebe lezobulungisa lase-US labhala:
I-themanyang mest yesithili se-Illinois namhlanje yafumana i-Jpmorgan ye-JPmorgan ye-JPmorgan inetyala le-Schemes, inkohliso yamaxabiso kwiNkqubo yokuHlanganisa iMakethi ebandakanya amawaka eentengo zentengiselwano.
UGreg Smith, 57, we-Scabdale, eNew York, yayinguMphathi oMlawuli weJpmorgan eNew York, ngokwamaxwebhu eNkundla kunye nobungqina obuboniswe enkundleni. UMichael Novak, 47, waseMontor, eJersey New Jersey, ngumphathi olawulayo okhokelela kwiCandelo lezeNtengiso ze-Jpmorgan kwihlabathi liphela.
Ubungqina bobuchwephesha babonisa ukuba ngoMeyi ka-2008 ukuya ngo-Meyi ka-2008 ukuya nge-30 ka-Agasti ka-2006, kunye nabanye abarhwebi kwicandelo lezezishini ze-Jpmorgan kwicandelo lezeminyithi ye-jpmorgan, elibandakanyeke kwinkohliso, i-curiphotery. Abamangalelwa babeka ii-odolo ukuba bazimisele ukurhoxisa ngaphambi kokuphelisa ixabiso le-odolo ababezimisele ukuzalisa kwelinye icala lentengiso. Abamangalelwa babandakanyeka kumawakawaka orhwebo ngobuqhetseba kwi-golide egolide, iplatinarium kunye ne-pilladium ethengiswayo kwi-New York Mercantile yotshintshiselwano (i-nymex), eqhutywa ziinkampani zentengiso ye-CME. Ngenisa ulwazi kwintengiso ubuxoki kunye nokulahlekisa ulwazi malunga nonikezo lokwenyani kunye nemfuno yeekontrakthi zexesha elizayo zeentsimbi ezixabisekileyo.
"Umphugi weJury ongu-jury ubonakalisa ukuba abo bazama ukusebenzisa iimarike zemali zikarhulumente ziya kutshutshiswa kwaye ziphendulwe," utshilo uGurha Lantrakos. Ngaphantsi kwesi sigwebo, iSebe lezoBulungisa lasihlela kwi-10 langaphambili labarhwebi beZiko leZiko leMfundo, kubandakanya i-Jpmorgan Chase, iBhanki yaseMelika, i-Deutgan Bych, i-Deutgan yeBhanki, i-Deutgan.
"Ukutyhubela iminyaka, abamangalelwa sele bebeke amawaka ee-odolo ze-fake zentsimbi exabisekileyo, besenza imizobo yokukhankanya abanye kwiCandelo elibi loSakhiwo lwe-FBI. "I-vardation yanamhlanje ibonisa ukuba akukho nkqubo inzima kangakanani okanye yexesha elide, i-FBI ifuna ukuzisa ubulungisa abo babandakanyekayo kulwaphulo mthetho."
Emva kwetyala leveki ezintathu, uSmith wafunyanwa enetyala lokugcina amaxabiso athile, ukubalwa kobuqhophololo, ukubalwa kwenkohliso yobuqhetseba, kunye namabalwa asibhozo zobuqhophololo obandakanya iziko lemali. UNovak wafunyanwa enetyala lokugcina ilungelo lokuzama amaxabiso, ukubala omnye kobuqhophololo, ukubalwa kwenkohliso yentengiso, kunye nee-10 zobuqhophololo olubandakanya iziko lezemali. Umhla wokugwetywa awukacwangciswa.
Abanye babini bangaphambili be-Jpmorgan ye-JPmorgan yeZityholo, uJohn Admonds kunye ne-christictz, babegwetywa ngaphambili kwiimeko ezinxulumene nazo. Ngo-Okthobha ka-2018, u-Edmond wacenga ukuba angala ubuqhetseba omnye obuqhetseba kunye nokubalwa kwesinye sento yokwenza neyelenqe lokudlulisela ubuqhetseba, ubuqhophololo, ukulungiswa kwamaxabiso, kunye nenkohliso kwikhonkco. Ngo-Agasti ka-2019, uTrenz wacela ukubala kwelinye ityala leyelenqe ukuze enze ubuqhetseba kunye nokubalwa kwenkohliso kwisithili seMpuma yeNew York. I-edmonds kunye ne-trunz zilindele ukugwetywa.
NgoSeptemba 2020, iJPmorgan ivumile ukuba yenze ubuqhophololo: (1) Ukurhweba ngokungekho semthethweni kweentshukumo ezixabisekileyo zekamva kwemarike; . I-JPMMORGAN ingenise kwisivumelwano seminyaka emithathu yokutshutshiswa kwayo esiyi-920 yezigidi kwiziselo zolwaphulo-mthetho, imbuyekezo, kunye ne-CFTC kunye ne-CFTC kunye ne-CFTC kunye ne-CFTC kunye ne-CFTC kunye ne-CFTC kunye ne-CFTC kunye neCFTC ESityhile izigqibo ezifanayo zangomhla omnye.
Ityala laphandwa yi-ofisi ye-FBI yendawo eNew York. Icandelo lokuNyanzelwa kweKhomishini yokuNyanzelwa kweKhomishini inikezela ngoncedo kulo mbandela.
Ityala lithethwe ngu-Avi Perry, intloko yobuqhetseba kwintengiso kunye nobuqhetseba obukhulu, kunye ne-Attorneys enkulu, kunye ne-Attorneys enkulu, kunye namaTyhilo oPhezulu kaMateyu, uChutystopher Fenton wecandelo lolwaphulo-mthetho lolwaphulo-mthetho.
Utywala obubandakanya iZiko lezeziMali sisiphoso esibalulekileyo samagosa, sibohlwaywe ngentlawulo ukuya kuthi ga kwi-1 yezigidi zeedola kwaye sivalelwe iminyaka engama-30, okanye zombini. Ijaji ifumene uMichael Norvak kwaye uGreg Smith unetyala lolwaphulo-mthetho oluninzi, iyelenqe nakwinkohliso.
UMichael Novak yi-Jpmorgan's Ityala likarhulumente lixhonywa kubungqina babarhwebi abancinci abaye bacenga benetyala kwaye basebenzisana nabatshutshisi ukuba baphephe izivakalisi ezihamba kakubi.
Ngeli xesha, iNovak kunye ne-Smith banamanzi kwiziko lezemali, bephethe izikhundla ukuya kuthi ga kwi-CEO noSihlalo waseJamie Dimon Dimon. Okwangoku akhona malungu ali-11 kwiBhodi yeBalawuli yeNkampani, kunye ne- $ 920 yezigidi ze-920, ngokuqinisekileyo yayisisiganeko esasibonisa ingxoxo yeBhodi yaBalawuli.
UMongameli Harry Truman wakuthi, "Uxanduva luphela apha." Ukuza kuthi ga ngoku, iinkolelo zikaJpmorgan azikhange zenziwe esidlangalaleni, kwaye iBhodi kunye noSihlalo / i-CEO ihleli ithe cwaka ngalo mbandela. Ukuba idola iyema ngaphezulu kwekhonkco, emva koko ngokomgaqo wolawulo, iBhodi yaBalawuli ine-jamie dimon, eyayifumana i-2021 yezigidi i-2021. Ukuza kuthi ga ngoku, konke okukhoyo kuMaziko eMali kunye nemali yentengiso ephantse ibe yi-360 yezigidi zee-bhiliyoni.
Ukudityaniswa kwentengiso akukho nto intsha. Ekuzikhuseleni kwabo, amagqwetha kwiNovak kunye noMnumzana Smith baphikisa ukuba inkohliso yayikuphela kwendlela abathengisi beebhanki, phantsi kolawulo oluvela kulawulo, banokukhuphisana nge-algorithms yekhompyuter kwixesha elizayo. Ijaji ayizange yamkele ukuphikisana nokuzikhusela.
Ukudityaniswa kwemakethi akukho nto intsha kwizinyithi ezixabisekileyo kunye nezinto zorhwebo, kwaye ubuncinci zizizathu ezibini ezifanelekileyo zokuba ziqhubeke:
Umzekelo wokugqibela wokunqongophala kolungelelwaniso lwamanye amazwe kumgaqo kunye nemicimbi yezomthetho ihambelana nentengiso ye-nickel yehlabathi. Ngo-2013, inkampani yaseTshayina yathenga i-London yensimbi. Ekuqaleni kuka-2022, xa iRussia yahlasela iUkraine, amaxabiso eNckel atsiba ukuya kulo lonke ixesha elingaphezulu kwe- $ 100,000 itoni. Ukunyuka kwaba ngenxa yokuba iNkampani yeNine yaseChinese ivula indawo enkulu, ecacisa ngexabiso lezinyithi ezingengongabi. Inkampani yaseTshayina ithumele ilahleko eyi-8 yezigidi zeedola kodwa iphele ukuphuma kwelahleko malunga ne-1 bhiliyoni kuphela. Ukutshintshiselana okwethutyana ukunqunyanyiswa okwethutyana ngenxa yentlekele ebangelwa linani elikhulu lezikhundla ezimfutshane. I-China neRussia ngabadlali ababalulekileyo kwintengiso ye-nickel. Ngelishwa, iJpmorgan ikwintetho yokunciphisa umonakalo kwingxaki ye-nickel. Ukongeza, isigameko seNickel yakutshanje saba sisiseko esibukhali esakhokelela ekubeni abathathi-nxaxheba abaninzi bethengisa ilahleko okanye inzuzo yokusika. Inzuzo yenkampani yaseTshayina kunye nemali yemali ichaphazele abanye abathathi-nxaxheba kwimarike. Inkampani yaseTshayina ikude neqela labalawuli kunye nabatshutshisi kwi-US naseYurophu.
Ngelixa uthotho lwemithetho otyhola abarhwebi, ubuqhetseba, ubuqhetseba bentengiso kunye nezinye izityholo eziya kwenza ukuba abanye bacinge kabini ngaphambi kokuba benze imisebenzi yentengiso, baya kuqhubeka nokuphatha intengiso. I-Fieaping geolical Feapical Forcapes inokuthi inyuse indlela yokuziphatha enobuchule njenge-China naseRussia isebenzise imakethi njengesixhobo soqoqosho ngokuchasene neentshaba zaseNtshona.
Okwangoku, ubudlelwane ophukileyo, ukunyuka kwamaxabiso kwinqanaba eliphezulu kumashumi eminyaka, kwaye ukubonelela kunye nezinto ezisisiseko zibonisa ukuba intsimbi exabisekileyo, eya kuthi ixhamle i-speest engaphezulu kwamashumi amabini, iya kuqhubeka ikhula phezulu. Igolide, eyona ntsimbi ixabisekileyo yegolide, i-BOBTELS ngaphandle ngo-1999 kwi- $ 252.50 i-ounce. Ukususela ngoko, lonke ukulungiswa okukhulu kuye kwanela ithuba lokuthenga. IRussia iphendula kwizohlwayo zoqoqosho ngokuvakalisa ukuba igramu yegolide ixhaswa zii-ruble ezingama-5000. Ekupheleni kwenkulungwane edluleyo, ixabiso lesilivere nge- $ 19.50 lalingaphantsi kwe- $ 6 i-ounce ye-eunce. IPlatinam kunye ne-pilladium zifunyanwa eMzantsi Afrika naseRussia, ezinokubangela imicimbi yokubonelela. Eyona nto iphambili kukuba iintsimbi ezixabisekileyo ziya kuhlala ziyinto yexabiso lokunyuka kwamaxabiso kunye ne-geopolitisi.
Igrafu ibonisa ukuba i-gltr inegolide, isilivere, i-Palladium kunye neplatinam. I-GLTR ilawula ngaphezulu kwe- $ 1.013 yezigidigidi kwii-asethi nge- $ 84.60 ngesabelo. I-ETF ithengise i-avareji yezabelo ezingama-45,291 ngosuku kwaye ihlawule umrhumo wolawulo lwe-0.60%.
Ixesha liya kuxela ukuba i-JPmorgan CEO ihlawula nantoni na ephantse ibe yi-1 yedola kunye nokugwetywa kwabarhwebi beentsimbi eziphezulu. Kwangelo xesha, imeko eqhubeka kwelinye yamaziko ezemali ehlabathi ekhokelela ekugcineni imeko eqhubekayo. Ijaji yaseburhulumenteni iya kusisi isigwebo se-NOVAKA kunye neSmith ngo-2023 kwiingcebiso zesebe lemigangatho ngaphambi kokugwetywa. Ukunqongophala kwengxelo yolwaphulo-mthetho kunokubangela ukuba ijaji inika esi sibini isibini ngaphantsi kwelona liphezulu, kodwa i-Tlyly lithetha ukuba baya kusinceda isigwebo sabo. Abarhwebi bangabanjwa ngokophula umthetho kwaye baya kuhlawula ixabiso. Nangona kunjalo, intlanzi ithanda ukubola ukusuka ekuqaleni ukuya ekugqibeleni, kwaye ukuphatha kunokuphuma phantse i-1 bhiliyoni ye-1 bhiliyoni yemali yemali. Okwangoku, ubuqhetseba bentengiso buza kuqhubeka nokuba i-jpmorgan kunye namanye amanye amaziko amaluleke emali.
Ingxelo yeNgxowa-mali yeHecht yenye yezona ngxelo zibanzi zorhwebo ezikhoyo namhlanje kubabhali abakhokelayo kwimimandla yempahla, utshintshiselwano lwangaphandle kunye neentsimbi ezixabisekileyo. Iingxelo zam zeveki zigubungela intshukumo yentengiso engaphezulu kwama-29 ezohlukeneyo kwaye inike i-barlish, iingcebiso zokungathathi cala, iingcebiso zokurhweba ngokuhambisana nabarhwebi. Ndinika amaxabiso amakhulu kunye nolingo olukhululekileyo lwexesha elincinci kubabhalisi abatsha.
UAndy wasebenza kwi-Wall Street phantse iminyaka engama-35, kuquka iminyaka engama-20 kwiSebe lentengiso labazalwana abathengisi (kamva uSalomon kwaye emva koko inxenye yeCalomon kwaye emva koko inxenye yeCalomon yaza emva koko inxenye yeCalomon yaza emva koko inxenye ye-cigroup).
Ukuchazwa: Andinaso isitokhwe, ukukhetha okanye ukupheliswa kwezikhundla ezifanayo nazo naziphi na iinkampani ezikhankanyiweyo kwaye ungacwangcisi ukuthatha ezo zikhundla kwiiyure ezingama-72 ezilandelayo. Ndilibhale eli nqaku kwaye ndibonisa umbono wam. Andifumananga ntyekezo (ngaphandle kokufuna i-alpha). Andinawo ubudlelwane beshishini nayo nayiphi na inkampani edweliswe kweli nqaku.
Ukuchazwa Ezi zikhundla zide nezimfutshane ezimfutshane zidla ngokutshintsha imini yonke.