Today's Money Stuff opens with a story in which JP Morgan owned $1.3 million worth of nickel metal in a warehouse somewhere (for reasons having to do with metal futures trading). Somehow it was recently discovered that the bags of nickel, which have been there since early 2022, were actually full of worthless rocks.
I assume you're talking about the article from yesterday, but this could well be just another wrinkle in the ~$600M Prateek Gupta and TMT metals fraud.
