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Another "Conspiracy Theory" Bites The Dust: UBS Settles Over Gold Rigging, Many More Banks To Follow

Tyler Durden's picture




 

Remember when everyone decried wholesale Libor manipulation as a crazy conspiracy theory (Zero Hedge: January 2009: "This Makes No Sense: LIBOR By Bank") because after all, it was impossible for so many people to keep their mouth shut or whatever the generic justification is for disproving such "conspiracy theories"? Why, none other than ICAP chief Michael Spencer says they all though Libor was "unmanipulable." As it turns out, not only is Libor manipulable(sic), and a vast rate-rigging "conspiracy theory" is quite possible when everyone's interests are aligned, but it also was massively profitable.

Then it was the turn of the even more massive, multi-trillion FX market, when first UBS squealed like a pig and soon ratted out every other bank in the criminal "Cartel" (or was it "Bandits"?) syndicate (see: "Meet The (First) Seven Banks Who Rigged The FX Market"). End result: banks such as JPM, Citi and BofA forced to review their criminal ways and adjusting their third quarter results a month into Q4. Many more legal fees, charges and settlement coming however for those who lost money on the other side of such long-running manipulation, please accept our condolences: you won't see a penny.

And finally, there was the precious metals market: a market which all the Keynesian fanatic paper bugs said was immune from manipulation, be it of the central or commercial bank kind, even with every other market clearly exposed for perpetual rigging either by hedge funds, by prop desks, by HFTs, or central banks themselves.

Sadly this too conspiracy theory just was crushed into the reality of conspiracy fact, when moments ago the FT reported that alongside admissions of rigging every other market, UBS - always the proverbial first rat in the coalmine, to mix and match metaphors- is about to "settle" allegations of gold and silver rigging. In other words: it admits it had rigged the gold and silver markets, without of course "admitting or denying" it did so.

From the FT:

UBS is to settle allegations of misconduct at its precious metals trading business alongside a planned agreement between UK and US authorities and seven banks over accusations of foreign exchange market rigging.

 

* * *

UBS is expected to strike a settlement over alleged trader misbehaviour at its precious metals desks with at least one authority as part of a group deal over forex with multiple regulators this week, two people close to the situation said. They cautioned that the timing of a precious metals deal could still slip to a date after the forex agreement.

 

Regulators around the world have alleged that traders at a number of banks have colluded and shared information about client orders to manipulate prices in the $5.3tn-a-day forex market. UBS has previously disclosed that it launched an internal probe of its precious metals business in addition to its forex investigation. It declined to comment for this article.

 

Unlike at other banks, UBS’s precious metals and forex businesses are closely integrated. The business units have joint management and the bank’s precious metals staff – who mainly trade gold and silver – sit on the same floor as the forex traders.

 

One person familiar with UBS’s internal probe said the bank found a small number of potentially problematic incidents at its precious metals desk.

"Potentially provlematic incidents"? One must give props to the FT for always finding just the right amount of politically correct lipstick to cover up what was market manipulation, pure and simple, which continued for years and years, even as the same FT routinely mocked everyone who alleged otherwise.

The good news is that the FT will finally reinstate the Gold manipulation article which is penned in February then promptly removed following complaints from up high.

Some more from the BOE's favorite media outlet:

The head of UBS’s gold desk in Zurich, André Flotron, has been on leave since January for reasons unspecified by the lender.

Surely it is because he made too much money rigging FX and gold?

Those who wish to send Andre their regards, may do so courtesy of his LinkedIn profile...

... Because he is one of many people responsible for such perfectly new normal trades as "Vicious Gold Slamdown Breaks Gold Market For 20 Seconds." Recall what "a humble block of 2000 gold futs (GC) taking out the bid stack, and slamming the price of gold, managed to halt the gold market: one of the largest "asset" markets in the world in terms of total notional, for 20 seconds" looks like:

Thank you Monsieur Flotron for teaching us how market manipulators "trade" gold:

Mr Flotron has not been accused of wrongdoing and has never responded to any requests for comment. He has labelled his professional status on his LinkedIn profile as being “on leave, keen to return in due time”. 

 

The gold market has this year become the latest trading area to be subjected to heavy regulatory scrutiny and allegations of price-rigging. The FCA fined Barclays £26m in May after an options trader was found to have manipulated the London gold fix.

 

Germany’s financial regulator BaFin has launched a formal investigation into the gold market and is probing Deutsche Bank, one of the former members of a tarnished gold fix panel that will soon be replaced by an electronic fixing.

As for what happens next, the game is clear, because the only thing that can surpass the "developed world's" rigged markets is said world's "judicial" system: rigged far more than a $10 billion gold market sell order at 1 am in the morning. The TBTF, aka Too Big To Prosecute Banks will settle, paying out pennies on the dollar of the profits they made from rigging gold, silver, FX, libor, Interest rates, equities, and so on, and will lay low for a while until the rigging resumes.

But fear not: even as the criminal banks stay out of the rigged market for a month or so - after all they have to at least give the appearance of complying with the rigged law - the central banks, courtesy of the "People Bringing You Currency Manipulation On A Daily Basis" located conveniently at the nexus of central banking in the Bank of International Settlements in Basel, will keep on rigging. Or else none other than Benoit Gilson, Head of Foreign Exchange & Gold at the BIS will be forced to report that he too is "on leave, keen to return in due time"...

Alas, we are far too deep inside the rabbit hole at this point to even pretend normalcy can ever again exist without the biggest systemic reset in history.

 

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Sun, 11/09/2014 - 12:59 | 5429566 ekm1
ekm1's picture

Bank lobby is being decimated by Pentagon.

Soon official death will be announced, in my view.

 

Welcome to Pentagon Junta, as in the 60s and 70s

 

Just my view, of course

Sun, 11/09/2014 - 13:02 | 5429572 InjectTheVenom
InjectTheVenom's picture

Andre's twitter page :  "...spending my Sunday at Home Depot shopping for a new nailgun"

Sun, 11/09/2014 - 13:15 | 5429602 nope-1004
nope-1004's picture

He's a PM trader, in a group of PM traitors.  I don't need the FT to tell me something I can glaringly see with my own eyes.  PM's have reacted 180 degrees from their logical course, defying all laws of nature during currency debauchery.

 

Sun, 11/09/2014 - 13:28 | 5429671 Ignatius
Ignatius's picture

Wondering if this news is related to Friday's PM pop?

Sun, 11/09/2014 - 13:35 | 5429690 Richard Chesler
Richard Chesler's picture

And this time they'll get a wrist slapping they'll never forget.

 

Sun, 11/09/2014 - 13:41 | 5429702 Kassandra
Kassandra's picture

Bring out the comfy chair!!

Sun, 11/09/2014 - 13:44 | 5429710 strannick
strannick's picture

Like the London Gold pool (

Sun, 11/09/2014 - 13:49 | 5429718 GetZeeGold
GetZeeGold's picture

 

 

Hold on.....let me find my shocked face.

http://www.youtube.com/watch?v=srw3RdiIlrQ

Sun, 11/09/2014 - 13:58 | 5429745 TruthInSunshine
TruthInSunshine's picture

If you're not a highly positioned insider with dirt on politicians, regulators& judges, stay out of the shark infested waters, and do your own thing.

Banks are now the most corrupt, malignant entities, infecting host economies, on the face of the earth. Their corruption (allowed by politicians, regulators & judges) will cause developed and emerging nations to fall.

Let these people cannibalize each other, which they will do when the flocks of bountiful sheep they've always preyed on get thinner and thinner - this is when you will see them PUBLICLY turn on each other and when the wide standard deviation events will take place.

Here's a blast from the past. Remember when the University of Texas took PHYSICAL delivery of 1 bln of gold?

They then sold 375 million of that PHYSICAL gold & invested the proceeds into PAPER/ELECTRONIC GOLD FUTURES!!!

http://www.silverdoctors.com/texas-university-sells-375-million-in-gold-...

D'oh!!!

Sun, 11/09/2014 - 14:16 | 5429818 kliguy38
kliguy38's picture

I prefer to reduce them to just  DOUCHEBAGS....... I wonder what Traitor Dan will say ......hehehehe

Sun, 11/09/2014 - 14:19 | 5429830 Pladizow
Pladizow's picture

Perhaps the banking cartel can hire Martin Armstrong to defend them as he so adamantly argues there is NO gold manipulation!

Sun, 11/09/2014 - 14:45 | 5429914 BaBaBouy
BaBaBouy's picture

In 2000 I Had A SHITLOAD Of SILVER CALL Options That Worthlessly Expired Into ZERO...

When Is My $250,000 Compensation From These Fecks Coming ???????????????

Sun, 11/09/2014 - 14:52 | 5429934 TruthInSunshine
TruthInSunshine's picture

lmao. Guy's last name is Flotron.

Now they're just flipping the bird.

Sun, 11/09/2014 - 20:49 | 5430770 knukles
knukles's picture

Oh, come on, everybody.  Give the guys some slack.
1.)  UBS pleaded guilty neither admitting or denying guilt to the gold fixing/rigging/manipulation.  At the LMBA fixes  Anybody but me ever wonder why they were called fixes?  I asked my boss 25 years ago and he said it was a quaint term.  I repeated and was told to STFU and learn something.
2.)  Having plead guilty to the London Fixing Fixings, the investigation will cease as Justice Has Been Served.
3.)  Thus, there is no need to rig the market as in it doesn't exist (the rigging) in the selling of bazillions of dollars of naked positions to drive the physical price down, etc.  See, it's all cool
4.)  And the reason it will never advance past this is that the Eyewash has been applied and it is the very same regulatory bodies manipulating the prices downwards that are the ones and same responsible for regulation.

 

There.
All fixed.
So no more fucking quesitons or tin foil hat shit, people!

Sun, 11/09/2014 - 18:17 | 5430401 Tall Tom
Tall Tom's picture

If you had that in Physical Silver then you would not need to be looking for compensatory damages because the Chickens always return to roost.

 

Your compensation will be realized at the collapse of the Paper Market and those markets will end up destroyed.

 

Stay away from paper as it is fraud to begin with. Even that $250,000 is fraudulent as it is a paper claim on future production of Goods and Services...which...ARE IMPOSSIBLE TO PRODUCE.

 

(That is the problem with Inflating to infinity...The Currency is rendered meaningless and a Force Majeure is declared when it becomes apparent that they cannot Stand and Deliver upon the promises made.)

 

That is what a currency is after all. It is a claim upon future production.

 

There is no way that we will ever see $100 Trillion, at today's value of $100 Trillion, in Goods and Services produced in out lifetime. That is the amount of the USA's unfunded liabilities and the supporting Good and Services are impossible to provide.

 

To make a long story short...

 

BUY PHYSICAL METAL. Do not play in paper markets as they are Ponzi Scheme, Pie in the Sky, FRAUDS..including the US DOLLAR...THE BIGGEST FRAUD OF ALL.

 

(But the US Dollar just reflects our social moral DECADENCE so well...)

Sun, 11/09/2014 - 14:36 | 5429890 DoChenRollingBearing
DoChenRollingBearing's picture

This article is why ZeroHedge adds so much value to those who seek truth and/or are defending their wealth from the predators.

As a non-professional, I am pleased that there are competent pros with the technical skills and the desire to expose this kind of criminality..., which the crooks try so hard to hide.

Bravo to the Tylers.

Sun, 11/09/2014 - 15:55 | 5430075 Took Red Pill
Took Red Pill's picture

now if only someone would go to jail

Sun, 11/09/2014 - 18:19 | 5430414 Tall Tom
Tall Tom's picture

A Hangsman knot at the end of a rope will be better.

 

Do you want to pay for their imprisonment?

Sun, 11/09/2014 - 13:54 | 5429738 zerozulu
zerozulu's picture

Tribe has their truck loaded. Now every reason to bring gold up. Gold to $5000 my friend.

Sun, 11/09/2014 - 15:11 | 5429969 Bindar Dundat
Bindar Dundat's picture

Who cares what it's value is in dollars!  Really  -- who cares.

An ounce of AG will still only rent you a month in a furnished two bedroom apartment , just like it did in 1902 at $20/month.  Gold is stable it's the fiat that is losing value through inflation .....

When gold is worth $25,000 an ounce it will cost $25,000 to rent a two bedroom apartment for a month.

Sun, 11/09/2014 - 15:47 | 5430054 indygo55
indygo55's picture

I think he was refering to the "allegation" that Gold and Silver are artificially manipulated down and thus have the potential of experiencing an upward movement that will (temporaraly) shoot past the actual price.

I think the whole thing is a massive fraud and $5000 is widely considered to be an easy target, if even for a moment before settling down to something sustainable.

Sun, 11/09/2014 - 15:55 | 5430074 tocointhephrase
tocointhephrase's picture

Right now it does not come close to covering a months rent. It did in 2011. And by the way, given I have been in property for 15 years, the amount of dodgy mortgages over the years, zero cash deposits, interest only etc, this is one grossly overvalued market built on hot air. When the bull market in gold and silver resumes it will cover more than a months rent. 50 ozs should buy you a home. That is a little over 4 years of 'rent'. But hey, if a months rent is your price target feel free to cash in early!

Sun, 11/09/2014 - 16:55 | 5430200 Greenskeeper_Carl
Greenskeeper_Carl's picture

that right there is the only thing i have any intention of parting with any of my gold right there. Once this new property bubble pops, which, IF interest rates ever move back to their historical norms, is inevitable, Thats when Im buying. especially in florida, where a lot of houses down here are people's second home, the bubble is even bigger.

Sun, 11/09/2014 - 17:00 | 5430208 fockewulf190
fockewulf190's picture

"When gold is worth $25,000 an ounce it will cost $25,000 to rent a two bedroom apartment for a month."

 

Of course, that all depends on where on Earth your living and what your renting.  If your living in a major first world city or in the nearby suburbs of one, then yes, you are correct.  I am going to be happy with my stack, and far away from any major population areas when the PM´s reset...and if renting a pad costs $25 grand a month in the future, I´ll make sure I´m living somewhere where it costs $5 grand.  The Great Reset is going to be brutal, and stretching your stack for all it´s worth is going to be the name of the game.

Sun, 11/09/2014 - 16:23 | 5430128 artless
artless's picture

Correct.

But could this be one of those brief periods during a few decade stretch when it's under priced even at 1300/oz?

I do remember when it was 300/oz and thw hypothetical 2 bedroom was renting for around 900.

 

Sun, 11/09/2014 - 16:39 | 5430158 zerozulu
zerozulu's picture

 

 

"An ounce of AG will still only rent you a month in a furnished two bedroom apartment"

Yes, only if you have an ounce of AG.

Sun, 11/09/2014 - 18:42 | 5430471 Tall Tom
Tall Tom's picture

An ounce of Au...an ounce of Au

 

Aurium...Gold.

Sun, 11/09/2014 - 18:43 | 5430462 Tall Tom
Tall Tom's picture

An ounce of AG will still only rent you a month in a furnished two bedroom apartment , just like it did in 1902 at $20/month.

 

I think that you mean an ounce of Au.

 

Au is Gold

Ag is Silver

Pt is Platinum

Pd is Palladium.

Hg is Mercury

Fe is Iron

Sn is Tin

and

Cu is Copper

Pb is LEAD.

 

(Ammo...You know?)

Sun, 11/09/2014 - 14:03 | 5429773 i_call_you_my_base
i_call_you_my_base's picture

Maybe even an indian burn.

Sun, 11/09/2014 - 14:13 | 5429815 Mr Pink
Mr Pink's picture

So......when do they settle with me?

Sun, 11/09/2014 - 14:26 | 5429854 Never One Roach
Never One Roach's picture

Sock it to the shareholders but pleeeeze, don't jail any of the criminals.

Sun, 11/09/2014 - 14:31 | 5429872 MsCreant
MsCreant's picture

^^The elephant in the room^^

They don't dare breathe that truth. To say it undoes EVERYTHING they have been getting away with. These manipulations are crimes and thefts from us all. And we are forced to interface with this system. Everything we buy, gas, milk, stocks, gold, anything at all we buy, we have to interface with this shit. We can trade between us here and there, but those moments are few and far between.

Sun, 11/09/2014 - 16:08 | 5430102 RaceToTheBottom
RaceToTheBottom's picture

Plus the government mines a fee from the offending company. Covers paperwork costs...

Sun, 11/09/2014 - 14:00 | 5429767 Wile-E-Coyote
Wile-E-Coyote's picture

I bought more Silver Friday........ Fuck the bastards.

Sun, 11/09/2014 - 15:31 | 5430012 scottch
scottch's picture

AG permiums are quite high - around 8% at APMEX.  Those guys must have been holding the bag when the prices dropped.  AU is still around 3% is 1oz increments.

Sun, 11/09/2014 - 13:18 | 5429624 ZH Snob
ZH Snob's picture

tidbits, nothing more.

there will be no change until the present system finishes choking itself off, turns blue and dies.

until then, all we'll get will be fall guys and stories.

 

Sun, 11/09/2014 - 13:28 | 5429647 ekm1
ekm1's picture

http://www.politico.com/magazine/story/2014/11/fire-valerie-jarrett-1126...

http://www.weeklystandard.com/blogs/president-vp-may-differ-immigration-...

 

Jarrett being attacked.

Biden is in civil war with Obama. I suspect it was Biden who leaked to WSJ that Obama had sent 4 secret letters to Khamenei and Khamenei didn't even bother answering.

 

I don't see Obama finishing the 2nd term in office.

I suspect democrats are ready to join repubs to remove him from office as of new congress.

2/3 of senate needed.

Sun, 11/09/2014 - 13:46 | 5429713 seek
seek's picture

Ordinarily I'd dismiss this, but I think it's going to be really hard to convince the public that people and not Diebold voted Ms. "What difference does it make" into the presidency in 2016 if the don't do some major damage control.

As others have pointed out, if the US were a parliamentary system, a vote like this most recent one would have had Obama resigning the next day.

The setup would be pretty easy, E.O. on amnesty and then resigns. The wall of immigrants heading to the US would create a nice actionable crisis afterwards as well.

Sun, 11/09/2014 - 16:31 | 5430145 ekm1
ekm1's picture

It is my view that Obama is mentally unstable.

Assuming Obama does not change, not impossible impeachment within first 6 months of 2015.

Just my view.

Sun, 11/09/2014 - 18:56 | 5430491 Tall Tom
Tall Tom's picture

Mentally unstable?

 

THEY ARE ALL MENTALLY UNSTABLE is the answer. To what degree is the question...

 

(Alex, Mentally unstable Politicians for $1000 please. I just hit the Daily Double? Cool. I will wager everything.)

 

Really I believe that Joe Biden is more mentally unstable than Obama.

 

He is the largest obstacle to an Obama Impeachment.

 

(Even when they were going after Nixon they had the cleverness to remove Spiro Agnew, another politician crook from Maryland, FIRST.)

 

Joe Biden is the INSURANCE POLICY.

Sun, 11/09/2014 - 13:53 | 5429717 Theta_Burn
Theta_Burn's picture

@ snob

Agreed..

Now if I manipulated say, my taxes, building permits, or the truth in a court of law, can't I also settle without admitting guilt?

Shouldn't there also be a big fuck all class action suit, trying to recoup all the losses suffered by investers, myself included?

If this dosen't tell you to get heavy with PM's nothing will...

 

**Failed to note that the manipulation is to the down side, and for that I am greatful....

Sun, 11/09/2014 - 14:40 | 5429897 DoChenRollingBearing
DoChenRollingBearing's picture

When you get a gift, sometimes it is smart to take it.

Sun, 11/09/2014 - 13:01 | 5429570 Shad_ow
Shad_ow's picture

So all those who have not proffitted because of unfair trading will be reimbursed?  

 

Hahahaha, yeah I am holding my breath.

Sun, 11/09/2014 - 13:03 | 5429582 lordbyroniv
lordbyroniv's picture

FUCK YOU MARTIN ARMSTRONG

Sun, 11/09/2014 - 13:14 | 5429614 Tinky
Tinky's picture

Don't forget Trader "every time it drops the gold bugs claim" Dan!

Sun, 11/09/2014 - 13:49 | 5429722 The Duke of New...
The Duke of New York A No.1's picture

I'm sure Trader Dan would sell his Grandmother if he could make a wooden nickel in the trade.

Sun, 11/09/2014 - 14:15 | 5429821 kliguy38
kliguy38's picture

HE's another douchebag scumbag

Sun, 11/09/2014 - 15:37 | 5430034 vincent
vincent's picture

Stop Kli. You're gonna hurt Dark Purple Haze'z feelings.

Dan is his first crush since he left The Turd.

Sun, 11/09/2014 - 16:03 | 5430091 indygo55
indygo55's picture

Dont blame MARTIN ARMSTRONG. He's only doing what he is told. The manipulation is obvious and he doesn't see it? Really??


Sun, 11/09/2014 - 13:04 | 5429583 TeamDepends
TeamDepends's picture

Andre and his ilk will soon be receiving "love letters" from all directions.

Sun, 11/09/2014 - 13:05 | 5429586 Zoltan
Zoltan's picture

And silver will probably gap down on a delayed open tonight.

 

Same as it ever was.

 

Z

 

Sun, 11/09/2014 - 13:08 | 5429594 LetThemEatRand
LetThemEatRand's picture

Nothing will change so long as they are allowed to enter into these "not admitting wrongdoing" settlements.  If you're a banker, and you know that the worst thing that can happen is your shareholders will have to pay a penalty after several years of you personally pocketing tens of millions of dollars (or more) committing fraud, and your pile won't be touched in the process, what's a banker to do?

Sun, 11/09/2014 - 13:13 | 5429620 Kayman
Kayman's picture

Imagine a world where a bank robber can steal $100,000 and pay a $10,000 fine without admitting guilt. Oh sorry, that is the real world of banking criminals.

Sun, 11/09/2014 - 14:42 | 5429906 DoChenRollingBearing
DoChenRollingBearing's picture

@ LTER & Kayman

I should give up the bearing business and become a banker.

Sun, 11/09/2014 - 21:39 | 5430897 Clowns on Acid
Clowns on Acid's picture

Michael Milken started tha trend when he stole $ 1B but only had to repay .5 Billion. The other $ .5 Bilion was in his brother's name.

Sun, 11/09/2014 - 13:16 | 5429629 Buzz Hacksaw
Buzz Hacksaw's picture

Where does the fine end up? Might also be an incentive for remedy du jour.

Sun, 11/09/2014 - 15:43 | 5430041 Greenskeeper_Carl
Greenskeeper_Carl's picture

i agree. nothing changes until then. And I don't think there is any saving this system either. Its too far gone to save, fix, or change. There is far too much criminatlity and fraud. Hell, in florida "we" just reelected a guy who did the same thing with medicare (plead fifth, admit no wrongdoing, shareholders pay fine) for governor again. we are so stupid we actually elect these very same people who steal from us to be our rulers. It is going to require a massive reset, and there will have to be some form of sound money to conduct trade with. I don't think this is a bad thing, I just hope we are able to ride it out without any of our elected clowns with itchy trigger fingers let fly a couple ballistic missles.

Sun, 11/09/2014 - 16:15 | 5430116 artless
artless's picture

Oh Dear Fucking God I up voted LTER.

We really CAN all get along!

Sun, 11/09/2014 - 13:06 | 5429589 LoneStarHog
LoneStarHog's picture

Just call all these damn things The Denninger Chronicles...No matter how many Conspiracy Theories are proved correct - after his big mouth with Ban Hammer - the SOB remains silent and just moves forward charging more conspiracies and attacking OPEN/RATIONAL minds with his big mouth and hammer.

Sun, 11/09/2014 - 13:50 | 5429729 Bay of Pigs
Bay of Pigs's picture

Denninger, Armstrong and Trader Dan are all people to avoid if you are a PM stacker. Their trading advice is one thing, and I have no trouble with that. But the facts on gold and silver manipulation is quite another. Those guys are all dead wrong on this issue.

Wonder what kind of an excuse they will trot out now that they've been outed as idiots on this subject?

Sun, 11/09/2014 - 14:49 | 5429928 kliguy38
kliguy38's picture

welcome pig. I have to thank the cartel for the past three years for their assistance in allowing me to accumulate silver. I never dreamed they would give me silver at these prices..

Sun, 11/09/2014 - 16:53 | 5430191 Tao 4 the Show
Tao 4 the Show's picture

Armstrong seems like a dissembler par excellence. Almost guaranteed, he will now say something to the effect that these little manipulations (as reported above) happen all the time in every market, but they are not important and don't matter. He will then say that his point is that a big, organized manipulation is what he was talking about and that it just does not happen.

Sun, 11/09/2014 - 18:19 | 5430411 LoneStarHog
LoneStarHog's picture

In a word:  LIBOR

Sun, 11/09/2014 - 16:09 | 5430105 indygo55
indygo55's picture

That's the thing. These guys are not idiots. They are taking that position for a reason and its not because they dont see it.

Sun, 11/09/2014 - 13:06 | 5429592 wmbz
wmbz's picture

So what "market" isn't rigged? Damned if I know of one.

It's always been an insiders game.

Sun, 11/09/2014 - 14:06 | 5429785 i_call_you_my_base
i_call_you_my_base's picture

Flea market.

Sun, 11/09/2014 - 16:34 | 5430150 tumblemore
tumblemore's picture

percentages. a market can be rigged at a low percentage forever but the current banking mafia always want *more*

 

https://www.youtube.com/watch?v=HWa6vsXOKAU

Sun, 11/09/2014 - 13:10 | 5429600 ebworthen
ebworthen's picture

.gov:  "You can continue to rig the Gold markets and not go to jail for breaking the law as long as you pay us hush money."

Banks:  "Deal.  This is some racket we got going eh .gov?  We steal from the little people coming and going, up one side and down the other - from the front and from the back."

.gov:  "Shhh!  Keep your voice down and bow your head like you're really remorseful and ashamed of yourself."

Banks:  "Oh, right!  And I'll shed a tear and swear to never do it again.  I've got your payoff, but when the press leaves."

Sun, 11/09/2014 - 13:12 | 5429610 Ban KKiller
Ban KKiller's picture

Playbook!

Sun, 11/09/2014 - 13:33 | 5429684 Son of Captain Nemo
Son of Captain Nemo's picture

".gov:  "Shhh!  Keep your voice down and bow your head like you're really remorseful and ashamed of yourself.

Banks:  "Oh, right!  And I'll shed a tear and swear to never do it again.  I've got your payoff, but when the press leaves."...

"."

eb

+1000

Sun, 11/09/2014 - 13:11 | 5429604 Ban KKiller
Ban KKiller's picture

IF you can stomach it..http://www.cftc.gov/index.htm   This is where we are told there is no silver manipulation. TRY to do a search "silver manipulation" in their search box. Interesting articles pop up. OLD Bart said there was manipulation but offically...NO SUCH THING! 

Oh, they say the proof of manipulation, under the law, is hard to show! So, basically, fuck you, average sheeple. 

 

Futures contracts that require the delivery of a physical commodity are most susceptible to manipulation when the deliverable supply on such contracts is small relative to the size of positions held by traders, individually or in related groups, as the contract approaches expiration.

The more difficult and costly it is to augment deliverable supplies within the time constraints of the expiring futures contract's delivery terms, the more susceptible to manipulation the contract becomes. Examples of some pertinent surveillance questions for these markets include:

Are the positions held by the largest long trader(s) greater in size than deliverable supplies not already owned by such trader(s)?

Are the long traders likely to demand delivery?

Is taking delivery the least costly means of acquiring the commodity?

To what extent are the largest short traders capable of making delivery?

Is making futures delivery a better alternative than selling the commodity in the cash market?

Is the futures price, as the contract approaches expiration, reflecting the cash market value of the deliverable commodity?

Is the price spread between the expiring future and the next delivery month reflective of underlying supply and demand conditions in the cash market?

An excellent barometer for potential liquidation problems is the basis relationship (i.e., the difference between cash and futures price). When the price of the liquidating future is abnormally higher than underlying cash prices or both the futures and underlying cash price are abnormally higher than comparable cash prices, there is ample reason to examine the causes and to assess the motives of traders holding sizable long futures positions.

Sun, 11/09/2014 - 13:10 | 5429606 Quinvarius
Quinvarius's picture

I suspect they wouldn't even bother looking at this if there was not a deeper issue.  Like maybe dumping customer gold in the process of manipulating, and filling the vaults with IOUs.  It works great on paper.  Not so much when the customer wants their gold back and you either default or push the market through the roof buying it back.

Gold demand at these prices and under these conditions is infinite.

Sun, 11/09/2014 - 13:16 | 5429625 seek
seek's picture

I think this is part of something I've  been theorizing about lately, that the collapse it close enough that people in power are moving into a cover-your-ass mode. This establishes the banks were being sneaky, and when it comes out that gold is missing, they can blame the banks and divert attention away from shitty regulation and/or the awkward question of how banks got gold in Ft. Knox out.

Sun, 11/09/2014 - 15:53 | 5430071 Greenskeeper_Carl
Greenskeeper_Carl's picture

shouldn't be hard to convince the sheeple it was all the banks fault. Ask most people who consider themselves 'informed' about 2008 and they will tell you all about how it is all wall streets fault. No mention of govt encouraging them to make liars loans to subprime people, the implicit promise of bailouts, especially with fannie/freddie. They also fail to mention the most important actor in all this, the fed. most people have no idea what that really is, and if they know it exists, they think its part of the treasury or something. Getting them to believe it was all the big banks fault should be no problem. Im just not sure who exactly is in control. Look what happened a few years ago: the banks basically told the govt either you give us a shitload of money or we let your whole economic system collapse, if we go down you ALL go down.

Sun, 11/09/2014 - 17:02 | 5430218 Tao 4 the Show
Tao 4 the Show's picture

Seek - I tend to agree. The argument against manipulation is that they have  been able to keep it going so long. The only two ways to do that are to a) reduce demand by convincing a big fraction of potential buyers that "this is not the investment you are looking for", or b) come up with big supplies of physical to meet demand without creating shortages or letting the spot price rise.

Probably, it has been some of both, but physical supplies for such a purpose do not last forever. With Putin coming out as a wildcard, the timeline may be delayed resulting in physical supplies for manipulation running low.

Sun, 11/09/2014 - 17:43 | 5430314 The_Prisoner
The_Prisoner's picture

That's what that cunt chindit13 was trying to do here. Trying to bash gold and say all big insiders had already sold to the gold bugs.

He's probably back in Burma kidnapping children and harvesting organs like the good agent of empire he is.

Sun, 11/09/2014 - 13:21 | 5429644 ebworthen
ebworthen's picture

Yes, and to your point and Bann KKiller's - as time passes and we go deeper into the digital rabbit hole, is anyone actually ever going to demand delivery of pork belly's, a Silo of corn, or a ton of Gold?  "Oh!  The transportation costs!"

No, and it's not even a promise of delivery anymore - it is a wink-and-a-nod shell game hustle.  "Hedging" is a euphemism for "Gambling" - the sheepskin for the wolves.

Sun, 11/09/2014 - 13:58 | 5429757 Volkodav
Volkodav's picture

Chine and Indians sure want it...

Sun, 11/09/2014 - 13:13 | 5429615 seek
seek's picture

This is just a new tax on financial entities. It's the governments protection racket -- "nice rigged market you have here, it'd be a shame if something happened to it."

I actually wouldn't mind this if the .gov taxes at insane rates. Just as how a few pennies per trade would kill HFT, imagine if banks got hit with $10B charges for each market, each year they did rigging and this was actually enforced. They'd start leaving a fuckload of markets alone if that happened, admitting wrongdoing or not.

Sun, 11/09/2014 - 13:14 | 5429618 Cacete de Ouro
Cacete de Ouro's picture

Looks like André spends his time curling, as well as rigging the gold price

André Flotron

Address: Husackerstr. 7. 8309 Breiti-Nürensdorf, Zurich (north east)

Phone: 079 457 66 19

work email: andre.flotron@ubs.com

Born: 1963

http://www.curling-wallisellen.ch/pdf/Clubs/Wallisellen/Mitgliederverzei...

Sun, 11/09/2014 - 15:49 | 5430062 trader1
trader1's picture

you didn't just dox him did you?!

oh, it was out in the clear already....

any good swiss data privacy lawyers out there?  

the wallisellen curling club's IT staff should be sacked.  effective.  immediately.  

Sun, 11/09/2014 - 16:42 | 5430169 Cacete de Ouro
Cacete de Ouro's picture

Well, it is on the Swiss interwebs, so blame Google

Sun, 11/09/2014 - 13:18 | 5429635 skbull44
skbull44's picture

But, but Martin Armstrong asserts "there is no such suppression"....however, he says he is long gold...

http://olduvai.ca

Sun, 11/09/2014 - 13:18 | 5429639 EemieMeanieMinieMoe
EemieMeanieMinieMoe's picture

Endeavor to persevere..... https://www.youtube.com/watch?v=rsL6mKxtOlQ

Sun, 11/09/2014 - 14:28 | 5429811 Radical Marijuana
Radical Marijuana's picture

Well, Eemie, there is not much which is realistically possible to "endeavor to persevere" doing, and so, I tend to seek some refuge and relief in a macabre sense of humour, although that too has become worn out by over use. As with that classic bit from George Carlin that you linked, another recent example was this:

http://www.dailymotion.com/video/x29cb1e_jon-stewart-election-110414_fun

That embeds a Jon Stewart sketch about the relative roles of money versus ideas in the political processes. More wicked truth! It is funny because it is true, while also terrible at the same time.

Jon Stewart was criticized for admitting he did not bother to vote. He later tried to back-peddle on that, but it appears that he has become slightly more like George Carlin in that regard, although not so much so ...

For all practical purposes, despite my efforts to keep my hand in the game, I have been forced to face the fact that there are NO "solutions" ... other than, perhaps, after the madness of the current systems cause their own self-destruction ... BUT, that "biggest systemic reset in history" is way too unpredictable to actually be prepared for!

Sun, 11/09/2014 - 13:18 | 5429640 Son of Captain Nemo
Son of Captain Nemo's picture

Andre Flotran looks like the guy from "Papa Johns".

The slogan for UBS might as well be "better ingredients, better pizza"!

Sun, 11/09/2014 - 13:44 | 5429709 fishwharf
fishwharf's picture

Papa Johns is some of the worst pizza I've ever had.

Sun, 11/09/2014 - 13:53 | 5429734 Son of Captain Nemo
Son of Captain Nemo's picture

Papa Johns is some of the worst pizza I've ever had.

Agreed!

UBS... The Papa "Jon" of the "healthy" financial investment World!...

Sun, 11/09/2014 - 16:01 | 5430087 Buckaroo Banzai
Buckaroo Banzai's picture

It's better than Domino's, though. Which obviously isn't saying much.

Sun, 11/09/2014 - 13:26 | 5429655 Peter Pan
Peter Pan's picture

In view of what happened a few days ago to gold and silver, this penalty means nothing because nothing has changed. The murderers are still out on bail committing murder. I sm afraid justice will be served only by a collapse.

Sun, 11/09/2014 - 13:28 | 5429670 Consuelo
Consuelo's picture

But, but, but...   The 'manipulation' as it were, is one thing.   That can easily be 'Bill Clinton-ed' off as 'everyone does it, so who cares...?'    What most are curious of is how much of this manipulation is done to protect $USD interests, and if so, from where and from who give the orders to manipulate the PM market in one direction or another?   Why would there be such broad interest in such a relatively small market, to keep prices from going into thermal runaway...?

Sun, 11/09/2014 - 13:30 | 5429675 Yen Cross
Yen Cross's picture

  Is that guys last name "Flotron", some kind of twisted algo community joke?

Sun, 11/09/2014 - 13:42 | 5429707 Consuelo
Consuelo's picture

Haven't you ever heard of a Flotron generator...?

Sun, 11/09/2014 - 13:53 | 5429739 seek
seek's picture

Injured in a tragic gold warehousing accident, Andrew Flowers was a man barely alive... After extensive surgery to implant HFT components, he's a better, faster, stronger trader than he has ever been... robotrader... Andre Flotron

Sun, 11/09/2014 - 16:35 | 5430152 ebear
ebear's picture

Cover your shorts, or there'll be..... trouble.

Sun, 11/09/2014 - 15:54 | 5430073 vincent
vincent's picture

I think a bunch of traders have American Gladiator-like names. It's like one big club, and we aint in it.

Sun, 11/09/2014 - 13:30 | 5429676 e_goldstein
e_goldstein's picture

Find him, hang him, and draw and quarter him, really slowly.

Oh, and don't let that fucker Benoit get away either.

Sun, 11/09/2014 - 13:35 | 5429688 vyeung
vyeung's picture

what this useless yellow relic! Now way, that's impossible. LOL!

Sun, 11/09/2014 - 13:35 | 5429689 Infinite QE
Infinite QE's picture

Impossible. FullO'Chindit just said that there are no conspiracies.

Sun, 11/09/2014 - 13:36 | 5429692 Jack Burton
Jack Burton's picture

These fucking banks and bankers would never be able to rig markets if they lost the ability to speculate with federally insured deposits, and if they lost access to Zero % liquidity injections from the Fed. As it is, they can take all depositors money and speculate and rig markets with it, knowing if all goes to hell, the government will make whole the deposits, up to the limit. Also, bankers can get liquidity at zero percent interest, this allows them to leveage everything to near infinity and then use that power of scale to manipulate any and all markets. After the 1930's depression, laws were put in place to prevent just what is happening now! But, President Bill [blow job] Clinton and a Republican congress saw eye to eye on ending these regulations from depression era failures, and did away with regulations. So now, we have the situation I just described above.

America, a nation in which a Liberal Democrat and one of the most conservative congresses in history both agreed 100% that bankers should be set free to specualte with deposit the tax payer insures. And then the Fed rode into town with Zero interests and massive injections of Liquidity. This empowers banks to manipulate, lie, steal, cheat and throw all their losses onto the public tax payer.

So, what is not to like? I offer the above as proof of my " 1 Party " theory. The idea that both parties are just two sides of the same coin, we voters can flip it all we fucking want, but it is still a single bad penny. Think about it. You are being fucked up the ass by the 1 party state, yet so many are toasting the new republican congress which, according the their theory, will straighten out all of Obama bad policies. Even though 95% of those polices are carry overs from the Bush presidency.

Wake up, your belief in a 2 party democracy is how they manage to control you and to rig every system in the nation for the 1%, if this was NOT true, then explain how the 1% profited more after the 2008 crash of their business models than at any time in American history! Obama is just there to make you feel like you have a political opponent that is real, or that Bush offered others a tangible political opponent worth supporting Democrats to get ride of. But in the end, you got the same 1 party system with the 1% winning every single vote, every single Fed policy and the non-stop drive for total police state and total state spying.

I await the hope and change the New Republicans will bring. I will be here posting, and tracking every bad thing they straighten out for the next 2 years, I will have little to post on that subject, because Obama is as republican as this congress, and they are as democrat as Obama, all 1 party, all for the 1%, all for global war making imperial expansion with 100% police state corruption in the homeland.

Politics is a show for the weak minded. Keep playing at it. They love your childish belief systems, the kind they can prey on with their fake 1 party state.

Sun, 11/09/2014 - 13:47 | 5429719 BernankeHasHemo...
BernankeHasHemorrhoids's picture

You are absolutely right. It is clear that the US is controlled by a financial oligarchy. What is the solution to change things? Or is that not possible and the best thing is to just bail on the US completely?

Sun, 11/09/2014 - 14:07 | 5429772 Tinky
Tinky's picture

In my view, change will only come after a very painful awakening period for the American public, and the process will be both extremely turbulent and protracted. So...if you are in a position to live elsewhere, it's probably not a bad idea.

Sun, 11/09/2014 - 14:07 | 5429790 Wile-E-Coyote
Wile-E-Coyote's picture

Revolution nothing more nothing less.

Sun, 11/09/2014 - 14:41 | 5429850 MsCreant
MsCreant's picture

We won't go to war until our supply chains fail. Individuals who go to war are "nut jobs" and can still be contained. We all know it. 

Everything you can imagine they are doing, they are doing. They have bought and paid for it all. We live in it. It is theirs. 

Despite all my rage I am still just a rat in a cage. (Smashing Pumpkins).

But there is this:

I am a professor. You can't, today, shut me up. I teach a mass class, bitches. And others. I am in the social sciences, bitches. I have tenure, bitches. Freedom of speech, bitches. Academic freedom, bitches. 

Fuck you, bitches. Fuck you, fuck you, fuck you, fuck you.

My syllabus needs to cover some gold rigging, don't it, bitches?

We are down, we are not dead.

All my keystrokes and class discussions are belong to me. What do you still have?

Sun, 11/09/2014 - 15:03 | 5429957 Hulk
Hulk's picture

Have you seen prof Hamamoto MsC ???

https://www.youtube.com/watch?v=NH4Kb0sVHv8

You are not alone !!!

 

Sun, 11/09/2014 - 16:04 | 5430092 TeethVillage88s
TeethVillage88s's picture

National Referendums

Without Access to our Congressmen due to Lobbying, how do we stop the US Empire from taking us back to war.

- Mandatory Military Service
- Rigorous Auditing of War Spending, War Contracting, and Military Contracting Trends
- Auditing has to become an Art again in USA
- End the Lobbying & Gift Giving
- End Shell Companies
- Standardize Accounting & Standardize Financial Instruments
- End Shadow Banking
- Audit the Black Market Labor Force in USA
- End 90% of Government Secrecy, Bring back Transparency
- Call the 2 Party System a "Lobby System"
- Break Up Big Media Ownership in USA
- Break Up TBTF Banks
- Restart Anti-Trust Orientation
- Downsize Universities & Hospitals as National Treasures which have to be Affordable to the Common Man
- Adopt more Benchmarks in Court System to prevent Wealthy from owning it over the common man or common business
- Sequester Justices & Doctors to prevent them from accepting donations of conferences or seminars

Sun, 11/09/2014 - 16:58 | 5430207 PontifexMaximus
PontifexMaximus's picture

Will never ever happen, system intrinsic

Sun, 11/09/2014 - 17:53 | 5430335 TeethVillage88s
TeethVillage88s's picture

The Wealthy & the Political Class like the system exactly like this.

- Volunteer Military, Contractor Army = very Flexible
- Lobbying gives Wealthy the Access
- No US States can leave the Union
- No US States can hold a vote and make a big difference in national policy
- Foreign Policy, Rumsfeld Doctrine, Cheney Doctrine = can't be influenced by individual US States
- US Banking, Accounting, Financial Integrity = can't be influenced by individual US States

Sun, 11/09/2014 - 16:03 | 5430089 vincent
vincent's picture

 Food insecurity will solve this

Sun, 11/09/2014 - 14:21 | 5429837 tired1
tired1's picture

I would take it a step further: Even after the collapse there wont be a constructive outcome. There's nothing that i see in the US culture to indicate even a slight understanding of the issues at stake What I perceive is a posturing by the scumbags in power is a posturing for WW(part III). Picture Orwell's boot on the face of humanity forever (at least in the US).

Sun, 11/09/2014 - 14:28 | 5429859 Tinky
Tinky's picture

Yes, I agree. And while there is no question that times will be tough in Europe as well, I make these distinctions, and believe them to be important:

In the U.S. there is no collective memory of truly hard times, nor of the need, on occasion, to force radical change. In Europe, both of those crucial memories are alive.

Sun, 11/09/2014 - 14:53 | 5429937 dracos_ghost
dracos_ghost's picture

And where does one go exactly?

...best thing is to just bail on the US completely?

You guys forget that it's not just a US problem. It's a Globalist Progressive Fascist cabal in last gasp full court press mode.

BRICS are just as corrupt. Same for EU. Same for all nations on this planet. It's not just a 'murika phenomenon. Let's not forget these globalist international banker scum go back way before the US even existed -- same shit different channel. They supposedly had the son of God crucified FFS. Little ole America is just a wheezing old whore at this point. Small potatoes.

Need to put things in a proper context before proferring up final solutions. A securitized planet is the master plan of these d-Bags. Not just a single nation.

I hate to say it but the talking testicle(aka Alan Greenspan), hit in on the head the other days with respect to gold. These techocrat misfits running the world produce absolutely nothing, they are self-appointed little Lord Fauntleroys. That's why gold is tanking. If it's a baseline reference for the value of world production, why are we surprised at the collapse when the entire planet is a Gubmint based economy worth shit. Social networking shell companies that produce shit. Entertainment industry that produces shit. Maybe it's a hard pill to swallow, but gold might be showing true price discovery at this point of human endeavor.

Sun, 11/09/2014 - 15:52 | 5430068 R Man J
R Man J's picture

Unsound reasoning. Gold should be skyrocketing vs true value of everything else. Just like opposite ends of a balance scale.

Sun, 11/09/2014 - 15:53 | 5430069 R Man J
R Man J's picture

Dup

Sun, 11/09/2014 - 16:53 | 5430194 tumblemore
tumblemore's picture

"And where does one go exactly?"

 

America's size makes it harder to resist the banking mafia but at the same time makes it easier to bail *internally*. 


Sun, 11/09/2014 - 13:55 | 5429744 Volkodav
Volkodav's picture

"Politics is a show for the weak minded"

great point

thing is "they" master it, is one step of main plan

Marxist rules for revolution classified majority as "useful idiots"

but it is much older than that.."they" been around awhile

at least Babylonia

Sun, 11/09/2014 - 13:41 | 5429703 Consuelo
Consuelo's picture

There are a host of known names out there in the financial sphere - some already mentioned above who, even in the face of 'facts', will continue to deny any sort of meddling in the PM markets.   Why? Simple: For the same reason that prominent talk-show hosts summarily shit-can any calls about 'Kennedy', '911', Gold, etc., because entertaining these 'theories' means instant (mainstream credibility) Death - hence, instant loss of $$$livelihood...   It's the '3rd rail' so to speak.   Better to stay 'above the rabble' - at least until the wind of consensus is so strong as for them to be able to come outside and 'join the party', while conveniently laying claim that they were the ones 'out in front' of the whole deal from the beginning...

 

Sun, 11/09/2014 - 13:46 | 5429714 Mi Naem
Mi Naem's picture

Looks like the bankers have their own "Fight Club". 

It's professional, and they're kicking the crap out of most of the rest of us. 

Sun, 11/09/2014 - 13:49 | 5429720 Stockmonger
Stockmonger's picture

"Paper bugs"

 

LOL

Sun, 11/09/2014 - 13:58 | 5429758 RealityCheque
RealityCheque's picture

The press release will, in no uncertain terms, tell them not to be so naughty in the future and threaten them with "another long investigation that leads to no real consequences. That'll show 'em".

Sun, 11/09/2014 - 14:03 | 5429776 Radical Marijuana
Radical Marijuana's picture

I AGREE with that well-informed conclusion:

"Alas, we are far too deep inside the rabbit hole at this point to even pretend normalcy can ever again exist without the biggest systemic reset in history."

Sun, 11/09/2014 - 14:08 | 5429797 NoWayJose
NoWayJose's picture

This is yet further proof of why you have to stack your own physical.

Sun, 11/09/2014 - 14:14 | 5429816 MsCreant
MsCreant's picture

Bullion Market Ass, it's right there on his CV...

Sun, 11/09/2014 - 14:25 | 5429851 shouldvekilledthem
shouldvekilledthem's picture

I know it's not popular here, but with bitcoin and blockchain tech, making the banker class obsolete and reforming all aspects of finance for the better is possible.

Sun, 11/09/2014 - 14:40 | 5429894 MsCreant
MsCreant's picture

Meet the new bosses, same as the old bosses. How can folks not see that? You get sucked in by all these details. It is still a fiat curency. 

What happens if the grid goes down hard, for a long time?

And someone will be able to manipulate it. 

If the gold is fake, we can all test for that and know if it is fake or not. 

If people want to do bitcoin, they are free to. I won't.

Sun, 11/09/2014 - 15:03 | 5429956 shouldvekilledthem
shouldvekilledthem's picture

I think you should read a bit more about it. It is the complete opposite of FIAT.

When the grid goes down for long (total collapse), money wouldn't matter as modern life would collapse (as everything depends on the infrastructure).

Bitcoin is a global p2p system. It's antifragile while completely transparent.

 

 

Sun, 11/09/2014 - 17:17 | 5430246 saulysw
saulysw's picture

Bitcoin is anti-fragile?

 

Like this?

 

http://gizmodo.com/a-huge-fire-took-out-a-bitcoin-mining-operation-16559...

 

 

Sun, 11/09/2014 - 17:49 | 5430329 Seek_Truth
Seek_Truth's picture

Lulz.

When the grid goes down, Bitcoin will be defunct.

No power, no Bitcoin.

Sun, 11/09/2014 - 15:16 | 5429976 Radical Marijuana
Radical Marijuana's picture

Possible, yes.

Probable, no!

Sun, 11/09/2014 - 17:44 | 5430317 rejected
rejected's picture

"making the banker class obsolete"

Never happen. Like the Borg, they will just assimilate the new currency to eventually control it like they do everything else.

This class of individuals have centuries of experience in gaming the game.

Sun, 11/09/2014 - 14:41 | 5429900 Conax
Conax's picture
“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”  ~ Warren Buffett
Sun, 11/09/2014 - 15:42 | 5430047 Radical Marijuana
Radical Marijuana's picture

The greatest events in the "class warfare" in America took place in 1913, when debt slavery backed by income tax were legislated, as ENFORCED FRAUDS. After that, everything automatically got worse, faster. The basic ability to rig the price of gold, as well as everything else, flows from private banks being able to make the public "money" supply out of nothing as debts, which FRAUD is primarily ENFORCED by everyone being required to pay their taxes using that form of fiat money.

The main ways that the "class warfare" was waged was through applying the methods of organized crime to the political processes, whereby persistent bribery, intimidation, and assassination of those who otherwise could not be bribed or intimidated, resulted in almost all successful and surviving politicians becoming the banksters' puppets. Any politician that may have wanted to be a champion of the people would end up being discredited and destroyed. The result has been that the best organized gang of criminals captured almost complete control over the government, thereby legalizing themselves to commit more and more activities which would be crimes for anyone else, while also making sure that the few remaining laws that they actually broke would not be enforced against them.

The established systems are already more than 99% completely crazy and corrupt, and therefore, terminally sick and insane. The BIGGER problems with controlling civilization with triumphant, runaway enforced frauds are the ways that the longer term consequences of that become criminally insane for everyone, including the ruling classes. But for that, I would have less of a problem with those who take personal advantage of the established systems of enforced frauds. However, IN FACT, the irreconcilable social polarization is trumped by the irreparable destruction of the natural world.

The ways that the ruling classes control those they rule over, through systems of legalized lies, backed by legalized violence, become runaway criminal insanities, like a cancer or a parasite killing its host. The rich were relatively "winning" the class warfare, but at the longer term cost of destroying the health of society and the natural world as a whole ... However, since that takes a long time to play through, those longer term consequences never mattered, until they eventually will ... Paradoxically, the more that the rich "win" their class warfare against the poor, the more they are madly destroying everyone, including themselves too.

Sun, 11/09/2014 - 17:37 | 5430290 rejected
rejected's picture

1913 officially ended the Republic and State sovereignty in one step while creating a oligarch democracy where they choose who the plebs vote for. The debt based Federal Reserve was to ensure loyalty of the plebs and a means of unlimited funding for the government which the plebs pay for through inflation without the restraints of a gold based system.

They don't care about financial crises as they have learned how to keep their wealth intact by the countless crashes of the past. They make more wealth on the way down and then on the way back up again. Only the plebs lose due to their ignorance and care less attitude of how it really works. The bread and circuses continue until the final realization that they have been had... (again).

Like in the movie Under Seige II (good show) where many decoy satallites were displayed hiding the one real one the old money banksters have done the same to hide the real financial system. Everything else is a decoy and simply serves them time to gain real wealth. When the real system finally shows through, it's too late.

There is no 'winning' just losing unless your an above average pleb,  then you might break even.

Sun, 11/09/2014 - 14:53 | 5429936 BBullionaire
BBullionaire's picture

Auto reply 'not in office' on the email when I tried to send a 'good luck' message

 

Sun, 11/09/2014 - 15:07 | 5429962 PaperBear
PaperBear's picture

LIBOR isn’t rigged, except that is.

Gold isn’t rigged, except that is.

Sun, 11/09/2014 - 15:19 | 5429982 JetsettingWelfareMom
JetsettingWelfareMom's picture

I have an idea. Why don't the regulators and law enforcers start tapping the banks for more money? Since their rigging has resulted in shadow asset pools of 12 times worldwide GDP, they can certainly afford to give a tithe of 10% of that to the respective governments that are allowing them to do this. That should be enough to keep the state giving more retards busy jobs to keep finding more rigging. It should also keep law enforcement from stealing a poor mothers life savings because she was stupid enough to carry cash to buy a car, or the IRS from stealing a business owners life savings because his bank deposits were slightly under $10,000, meaning he had structured his deposits to try to avoid his money getting stolen by .gov. The economy would be saved!

Sun, 11/09/2014 - 16:08 | 5429988 Ewtman
Ewtman's picture

Unfortunately gold is not being manupulated as anyone tracking it with EWT can attest. That does not mean, however, that they haven't "attempted" to rig the market, only that it's not possible.

Gold is in a long-term bear market. It may have bottomed for a few weeks/months as a correction in the upward direction will carry the yellow metal into the 1300-1350 area before resuming the downtrend.

 

http://www.globaldeflationnews.com/gold-elliott-wave-update-for-october-...

 

 

Sun, 11/09/2014 - 15:28 | 5430003 The Abstraction...
The Abstraction of Justice's picture

Excellent timing, I am due in court on Tuesday suing Juergen Fitschen, CEO of Deutsche Bank for gold price manipulation.

Sun, 11/09/2014 - 15:42 | 5430044 Catullus
Catullus's picture

I thought the CFTC found no manipulation in the silver market. They ran a thorough investigation. They said so!

Sun, 11/09/2014 - 15:59 | 5430080 yogibear
yogibear's picture

Thought the CTC's main job was rating porn these days, just like the SEC.

Sun, 11/09/2014 - 16:13 | 5430108 razorthin
razorthin's picture

A rational, free market would send gold to 2,000 and GDX to 30 on Monday.

But this news doesn't change the Fascist State.

Sun, 11/09/2014 - 16:15 | 5430113 tumblemore
tumblemore's picture

The banking mafia = organized crime and nothing can be fixed until they are all in jail where they belong but that needs a national scale version of Eliot Ness vs Al Capone and that can't happen because the banking mafia own the politicians.

 

sad really, so much harm caused by so few

 

 

Sun, 11/09/2014 - 16:15 | 5430119 aquarian1
aquarian1's picture

"to strike a settlement over alleged trader misbehaviour"

 

misbehaviour?

you can have bad behaviour and good behaviour but misbehaviour is no more a real word (accept as coined by misbehaviour PC speakers) than-

misstealing

 

 

Sun, 11/09/2014 - 16:19 | 5430123 agstacks
agstacks's picture

I'm sure that will be the last of the gold rigging.

Sun, 11/09/2014 - 16:25 | 5430132 rejected
rejected's picture

Any banksters in jail yet?

Truly is a pay to get of of jail system we have.

Sun, 11/09/2014 - 16:51 | 5430187 pot_and_kettle
pot_and_kettle's picture

long nailgun futures here

Sun, 11/09/2014 - 16:52 | 5430189 FishHockers
FishHockers's picture

I can only wish that everyone and all of them who had a hand in the rigging go home and find their familys dead. Scumbag mf'ers

Sun, 11/09/2014 - 17:05 | 5430224 Atomizer
Atomizer's picture

I need help. Just returned from a 9 day bullshit stitch with wife in house shopping in Hilton Head. I am vomiting on beach. Kidding by telling her the investment will take 29 years 

I received a phone call 888.371.9919 X 218.

We just arrived from Hilton Head and our Charleston neighbor collects the mail. Two fucking FEDEX deliveries from a company in Beverly Hills. 

I just had spinal surgery. Aside from the voice message and two door tag numbers, these cunts are running a fraud skeem. 

Pick up at 5056 international Blvd North Charleston, SC 29418

 

Email : international @ tangeroutlet.com

FedEx door tag number. DT 1037 7742.8587, DT 1038, 7099,2602

 

These cunts are forwarding drugs to the east SC coast. I don't do drugs. Shut down theses assholes from Beverly Hills, CA 

 

 

SEC or FCC would be helpful. 

 

 

Mon, 11/10/2014 - 10:58 | 5432159 JenkinsLane
JenkinsLane's picture

Keen to return in due time because hookers and blow don't buy themselves.

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