Gold Manipulation Probed By U.K. Regulator

Tyler Durden's picture

As everyone knows, and as we showed yesterday in our infographic du jour, Wall Street manipulates everything, EVERYTHING.... except gold. Which is why were absolutely floored by what just flashed on Bloomberg:


More from Bloomberg: "The FCA review is preliminary and hasn’t risen to the level of a formal investigation, said the person, who asked not to be identified because the matter isn’t public. The person declined to say which gold benchmarks were under scrutiny. One of the key benchmarks is the London gold fixing, which determines the spot price for physical gold and is set twice daily by a panel of five banks."

No. That's not true. That's impossible.

Nobody has ever, ever manipulated gold in the history of St. Wall Street. After all, why else would the CFTC and Alexander Godunov repeat, year after year, that unlike every other product, gold has never been manipulated.

Then again, we aren't holding our breath until this probe finds that the biggest manipulators in the gold market are central banks themselves nothing.

As for everything else....

Foreign Exchanges

Regulators are looking into whether currency traders have conspired through instant messages to manipulate foreign exchange rates. The currency rates are used to calculate the value of stock and bond indexes.


Energy Trading

Banks have been accused of manipulating energy markets in California and other states.



Since early 2008 banks have been caught up in investigations and litigation over alleged manipulations of Libor.



Banks have been accused of improper foreclosure practices, selling bonds backed by shoddy mortgages, and misleading investors about the quality of the loans.

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asierguti's picture

Wasn't Bart Chilton investigating silver as well?

ParkAveFlasher's picture

Yes, but his hair came under "a dire threat" so he was excused from the investigation.

synergize's picture

One day we will find that there is much less gold than Wall Street said ... UNPOSSIBLE!

We're already seeing it as production costs of 25% of second quarter gold miners hit alltime highs:

Pinto Currency's picture


The accusations of gold manipultation are silly.

How could half a dozen bullion banks setting the gold price by trading 290 million oz. of paper gold between themselves per day on the LBMA possibly manipulate a market.

john39's picture

and they said that the matrix was science fiction...

Four chan's picture

that regulator must be a young man, or a nieve girl.

Pinto Currency's picture

Keep in mind that this is a market carefully designed by the LBMA and it functions exactly as designed.

There is nothing to investigate.

Pladizow's picture








SilverIsKing's picture

LBMA = London Bullion Manipulation Association.


Actually, they should investigate whether there are any Bitcoins in Fort Knox.

knukles's picture

Why do you think it's called a "Fixing"?

BaBaBouy's picture


When Will We Get A Serious Investigation ?????????

Maybe When 99% Of ALL The GOLD Is In The Hands Of ASIANS AND The .01% MEGA RICH...


It already is.  Why do you think there never is an investigation?

imaginalis's picture

They are just trying to scare bitcoin down

TeamDepends's picture

Report:  They are virtually all there.

Xibalba's picture

I'm sure they are offended at the 'high price'

Dead Canary's picture

"that regulator must be a young man, or a nieve girl."

Neither. They need to open and investigation so they can find nothing. Then whenever someone brings it up they can say:  "We did an investigation and found nothing"

akak's picture

Cue rote denials by Jeffrey "100:1" Christian of ANY possible manipulations of the gold market in 4, 3, 2, ....

Alpo for Granny's picture

Where is ol' Johnny Nadler? He get a job at the Fed after his exit from Kitco?

akak's picture

Oh, I bet he's hiding out under a bridge somewhere, warning all who pass overhead about the dangers of tripping over all the mountains of scrap gold supposedly just littering the landscape, while mumbling under his breath about his "radical goldbug extremists".

fonestar's picture

How could anyone following these markets the past couple years get excited about reports of an investigation?

Look, it is perfectly clear that this will continue until the system completely collapses.

fockewulf190's picture


[Bernanke has just cut off Tyler's right hand, which held a 400oz good delivery gold bar while boating]
Darth Bernank: There is no escape! Don't make me manipulate you. Tyler, you do not yet realize your importance. You've only begun to discover your power! Join me, and I will complete your helicopter training! With our combined strength, we can end this destructive conflict, and bring order to the bullion banks.
Tyler Phyzzwalker: [angrily] I'll never join you!
Darth Bernank: If only you knew the power of Control-P. Greenspan never told you what happened to the gold at Fort Knox.
Tyler Phyzzwalker: He told me enough! He told me it´s all there!
Darth Bernank: No, I leased it all to the Chinese!
Tyler Phyzzwalker: [shocked] No. No! That's not true! That's impossible!
Darth Bernank: Search your feelings; you know it to be true!
Tyler Phyzzwalker: NOOOOOOO! NOOOOOOOO!!!
Darth Bernank: Tyler, you can destroy the dollar. I have foreseen this. It is your destiny! Join me, and together, we can rule the Fed as father and son! Come with me. It is the only way.
[Tyler jumps overboard with his one remaining monster box of silver Eagles and has his last boating accident]
slotmouth's picture

I think he's investigating John McClane.

Canadian Dirtlump's picture

He was, until he swapped quoting obscure 80s rock and roll songs to quote etta james from at last, and dropped the mic, not before bragging about some future position limits regulations.


In other news, he picked up a new mic in a vegas lounge where he is the front man of a 4 piece ensemble playing quirky covers 5 nights a week.

Cacete de Ouro's picture

Terry Smeeton of the Bank of England rigged the gold price in the 1980s under the watch of Oliver Page. Page then...wait for it....went to work at the FSA, which is the old name for the FCA.

So the FCA will find....nothing

Running On Bingo Fuel's picture

Exactly, there is one solution for that shithole group of sodomites. Kinetic bombardment, thermal and nuclear!

Fucking brit scum! Nuclear rods from GOD.


Cdad's picture

I've been using mine all day today.  


Dave Thomas's picture

Now if you could get a track of boots stamping and folks shouting instructions in german laid over that, that would make a pretty boss alarm.

TheRedScourge's picture

Something like this with some klaxons in the beginning I suppose?


666's picture

The bankers are just doing the work of God.

akak's picture

Yes, but which god?

My bet is on Shiva.

Paper CRUSHer's picture

The Central Bank Of Venezuala is reportedly negotiating with GS to pawn off a portion of it's repatriated gold.The exchange will involve some swap agreements.(apology no link using iPad folks)

(Cue Gringo Accent)

"Hay hombre, you geev aus dee steenkin dollar ,we geev you dee gold "

_ConanTheLibertarian_'s picture

London gold price "fixing" by 5 banks. Okay.

TeamDepends's picture

JPM, JPM, JPM, Goldman, Barclays.

Quinvarius's picture

...That happen to have access to all of the BOEs gold.  It is ok.  Because you know England has massive gold mines they are replacing all that gold with.

Racer's picture

Set by a panel of...... 5 banks

That is all the proof you need

youngman's picture

They are just needing some extra Christmas cash...payoffs in 3-2-1 ...thank you very much..nothing was found here..nothing at all

Quinvarius's picture

They are jealous of the bitcoin now and will do everything possible to make gold do the same.  Plus, they have to figure out why the paper gold system is breaking the bank with all the negative GOFO, the gutting of the global gold mining industry, and gold being shipped out overseas.  I would look for the phone call to their Indian butler where they tell him to let the gold flow again.  Human nature is predictable.  These international gold holding nations and central bankers are both jealous and greedy.  Besides, the amount of gold they are flushing down the toilet trying to enfore an idiotic price is astronomical.  They might as well stop that nonsense and be on the right side instead of the stupid side for once.

Peter Pan's picture

We need to remember that the biggest form of manipulation is the volatility the big boys induce in the gold and silver market which enables them to make profits no matter which way gold is headed. By keeping gold within a trading range they are better able to do God's work.

akak's picture

The induced and artificially exaggerated volatility in the prices of the precious metals also goes a long way towards discrediting gold and silver as a relatively stable means of savings in the eyes of the public as well.  This is especially true lately, when every pro-establishment media pundit and financial advisor tries to sell the meme that "volatility = risk", when the two have fundamentally NOTHING to do with each other in any case.

It's really a bankster win-win.

Dismal Scientist's picture

FCA bites. Because the politicians want it to, for now. Its still fashionable for bankers to lose, the taxes they are paying in the US are just the beginning. Zerohedge should be happy. As Dillinger once said, 'I rob banks, because thats where the money is'. Or something like that.

shovelhead's picture

That was Willie Sutton.

Dilliger said: "So how did you like the movi......."

JoBob's picture

Gold? Manipulated?

The NERVE of those Brits!

Dezperado's picture

And jobs. You can manipulate jobs too.