, 14 tweets, 7 min read Read on Twitter
Wow, this was so quitely done I missed it for a week!
JPMorgan, Citigroup, RBS Barclays fined a billiion Euros for currency exchange for currency exchange cartel. Profiting off #moneylaundering!

Swiss bank UBS flipped on the other banks & revealed the existence of the cartel controlling the trading market for Euro, British Pound, Japanese Yen, Swiss Franc, US, Canadian, New Zealand and Australian Dollars, & Danish, Swedish & Norwegian crowns.
Their traders set up chatrooms & would discuss insider information allowing them to manipulate the value of those currencies in the spot trading market. Rigging the system for fun & profit...
UBS received full immunity for flipping first! All but one received partial credit for flipping sooner rather than later! Barclay's flipped second & got 50% reduction in fines. The American banks JP Morgan & Citigroup flipped late!
These settlements were for actions taken between 2007-2013. So the wheels of justice moved slowly. It also means that they are still likely to be investigated for schemes that started later than these! Wouldn't want to be the bank that isn't first to volunteer that information!
Apparently this is just the latest case to come out of this corrupt spot market case. UBS & the other banks were cooperating due to this guilty plea in 2015. They paid more than $2.5 Billion in criminal fines in that case! justice.gov/opa/pr/five-ma…
Just like in many of the other #ButNothingsHappening cases the prosecutions go back to the 2014 timeframe & the banks have been cooperating with varying degrees of transparency. But with agency after agency in country after country racking them up on the same charges!
The banks are also facing exposure for violating previous non-prosecution agreements that they had negotiated with the DOJ in earlier cases. Increasing the pressure each time the DOJ circles back to them again!
DOJ got them, Federal Reserve, New York State Dept. of Financial Services (DFS), the Commodity Futures Trading Commission (CFTC) and the UK’s Financial Conduct Authority (FCA) Office of the Comptroller of the Currency (OCC) & Swiss Financial Market Supervisory Authority (FINMA)
Here are some of those charges from 2014. cftc.gov/PressRoom/Pres…
UK on the same day in November 2014.
A similar scheme at another spot trading center was also passed off to Brazil in 2015 because it was manipulating their currency too. HSBC, Deutsche Bank, Citigroup & 12 others. #ButNothingsHappening wsj.com/articles/brazi…
It is time for more people to recognize that the attempt to rig the 2016 election had little to do with Trump. He wasn't seriously in the running when that effort began. The target of the election rigging was the DOJ & FBI personnel who spent 2014-2016 hunting dirty money!
#Spygate was about making sure Hillary won so she could fire the white hats at DOJ, FBI, Treasury, SEC, & other agencies that were trying to drain the Swamp by shutting down the #moneylaundering. You may disagree on who those white hats were, but they were the targets.
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