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Ten Banks, Including JPM, Goldman, Deutsche, Barclays, SocGen And UBS, Probed For Gold Rigging
No matter how many times the big banks are caught red-handed manipulating precious metals, some failed former Deutsche Bank prop-trader (you know who you are) will take a vociferous stand based on ad hominem attacks and zero facts that no, what you see in front of you is not precious metal rigging at all but a one-off event that has nothing to do with a criminal banking syndicate hell bent on taking advantage of anyone who is naive and dumb enough to still believe in fair and efficient markets.
The last time this happened was in November when we learned that "UBS Settles Over Gold Rigging, Many More Banks To Follow", and sure enough many more banks did follow, because in Europe, where the stench of gold market manipulation stretches far beyond merely commercial banks, and rises through the central banks, namely the BOE and ECB, culminating with the Head of Foreign Exchange & Gold at the BIS itself, all such allegations have to be promptly settled or else the discovery that the manipulation cartel in Europe involves absolutely everybody will shock and stun the world, which heretofore was led to believe that such things as gold market (not to be confused with Libor or FX) manipulation only exist in the paranoid delusions of a few tinfoil fringe-blogging lunatics.
However, as usually happens, someone always fails to read the memo that when it comes to gold-market manipulation one must i) find nothing at all incriminating if one is a paid spokesman for the entities doing the manipulation such as former CFTC-sellout Bart Chilton or ii) if one can't cover it, then one must settle immediately or else the chain of revelations will implication everyone.
This time, that someone is the US Department of Justice, which as the WSJ just reported, is investigating at least 10 major banks for possible rigging of precious-metals markets. The DOJ is shockingly doing so "even though European regulators dropped a similar probe after finding no evidence of wrongdoing, according to people close to the inquiries." Of course, the reason why said probe was dropped in Europe is because it would have implicated virtually the entire trading desk at the biggest and most important European bank: Deustche Bank, as well as the biggest bank in Switzerland, UBS and UK's own Barclays, reveal a manipulation cartel rivaling even that of Libor. And once traders at the commercial banks turned sides and squealed for the prosection, well then it would be the central banks' turn next. Which is why it was imperative to bring this investigation to a quiet end.
But not in the US.
According to the WSJ, "prosecutors in the Justice Department’s antitrust division are scrutinizing the price-setting process for gold, silver, platinum and palladium in London, while the Commodity Futures Trading Commission has opened a civil investigation, these people said. The agencies have made initial requests for information, including a subpoena from the CFTC to HSBC Holdings PLC related to precious-metals trading, the bank said in its annual report Monday.
HSBC also said the Justice Department sought documents related to the antitrust investigation in November. The two probes “are at an early stage,” the bank added, saying it is cooperating with U.S. regulators.
Who is involved in this latest gold-rigging scandal? Why everyone! ... which makes it immediately obvious why the European regulator had to promptly cover up the whole affair. Under scrutiny are Bank of Nova Scotia , Barclays PLC, Credit Suisse Group AG , Deutsche Bank AG , Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Société Générale SA, Standard Bank Group Ltd. and UBS AG , according to one of the people close to the investigation.
Robert Hockett, a law professor at Cornell University, said it is “not particularly surprising” that the Justice Department is plowing ahead despite the decision by European regulators. Recent scrutiny of big banks’ operations in the physical commodities markets and criticism of the Justice Department’s financial-crisis track record make it “quite understandable” that the agency would investigate allegations of precious metals price-rigging.
Last year, the FCA fined Barclays £26 million ($40.2 million) for lax controls after one of its traders allegedly manipulated the gold fix at the expense of a client.
Swiss regulator Finma settled last year allegations of foreign-currency manipulation with UBS. The regulator said it found “serious misconduct” among precious-metals traders at UBS, including “front running,” or trading ahead of, the silver-fix orders of one client. A spokeswoman for UBS, which said at the time that it “instituted significant cultural and compliance changes,” declined further comment.
You mean to say that the banks that were for decades rigging Libor... and FX... and bonds... and stocks... oh, and gold, were let go with a slap on the wrist and a promise to "change their ways" and not to do it again? Yup, that's exactly right.
So what happens next? Well, we finally will find just how much of a banker-controlled muppet the so-called US attorney general truly is. Recall that a week ago he gave his subordinates 90 days to being cases against individuals for their role in the financial crisis.
Well here is the perfect opportunity. Should Holder let this latest mass criminal ring go without any incarecration, one can officially stick a fork in the US justice system, which is meant for everyone, but the rule-flouting bankers who can clearly get away with absolutely anything.
As for the rigging in the gold market, rigging which begins with the lowliest prop-traders at Deutsche Bank and involves every single central bank and High Frequency trading outfit and is now a proven fact, we have explained over the years and thousands of times just how to end it all, so instead of wasting readers' time on this topic yet again, here are just two very simple solutions how to fix this one particular market:
all trading in "paper" gold should cease immediately and all contracts be settled in physical for true price discovery
— StockCats (@StockCats) February 24, 2015
audit Fort Knox
— StockCats (@StockCats) February 24, 2015
So simple, even the most corrupt US Attorney General caveman can do it.
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Yeah right the criminals are all going to stop counterfeiting and simply put themselves in jail...
"Which wrist would you like slapped this time?" - DOJ
This time we're really serious.....no really...really serious...we mean it..maybe even bare bottom spanking
"Don't stop. Really, I mean it. Spank harder." - Lloyd 'The Prevert" Blankfein
Good fucking luck DOJ.
Investigate the LBMA for trading of contracts of virtual gold and silver to set fraudulent metals prices:
http://www.safehaven.com/article/36534/lbma-data-points-to-gold-and-silver-default
and
http://www.safehaven.com/article/36659/greshams-law-predicts-the-lbmas-end
I think we can rest assured that our Injustice Department will look after the people's best interests. I'm very confident.
OH SHIT CALL BART CHILTON!!!
It must be April 1st
Right. When pigs fly will there be a real investigation.
WTF? Only ten?
Somebody has blinders on...
There are many thousands!
But.... But... But Martin Armstrong has repeatedly said that....
*sigh*
When a government gets corrupted the corrupt get to govern.
Somebody forgot HSBC?
banks probe themselves lol!
why not have some impartial party do it like goldman sachs.
what a fucking joke.
Put Eric Holder on the job and tell him only white people are getting rich.
He'll have 60 DOJ investigators on site in the morning.
JUST CHECK The Futures COTS... Lots Of Interesting Stuff In There...
Pay up suckers...
https://s.yimg.com/fz/api/res/1.2/K0qmbHTKMF4KfiR1iWrulw--/YXBwaWQ9c3JjaGRkO2g9NDgwO3E9OTU7dz02NDA-/http://images.thesamba.com/vw/gallery/pix/216059.jpg
<-- It really will be different this time as Govco turns on bankers
<--Same shit, different day.
bankers manipulating the gold market???
slap on the wrist time, and now nobody will look further at the CFTC or LBMA.
settlement in cash or delivery default - semantics, but usefully so.
just to be a devils cocksucking advocate, the 30 days to file suit for GFC cases isnt necessarily an Eric Holder arbitrary decision. If i understand it correctly, hes just issuing a timely warning that the stock standard 7 year statute of limitations is soon to expire. Do I think the GFC has been prosecuted properly? Absolutely not. Is 7 years a fair timeframe for this magnitude of crime? absolutely not. But its not like holder is going to step out of line with standard Jurisprudence on this matter.
Im surprised he even issued the warning....
perhaps a more legally trained person can contribute here what statute of limitation might apply to GFC style financial felonies?
I suspect that a really clever attorney could comb through the USC and the CFR, cobble together some violation that involves a lot of the two cross referencing each other to come up with something that has a longer SoL. Our laws are that fucked up in a "show me the man and I'll find you the crime" sort of way. But, you know and I know, it ain't going to happen. At best, this is just throwing John Q Public a bone. At worst, it's a protection racket shakedown.
As TBTF have maybe destroyed the SoL with US bank vs Bartram, surely that works both ways ?
As TBTF have maybe destroyed the SoL with US bank vs Bartram, surely that works both ways ?
In fact there is just one...see Vitali Glattfelder and Battiston (2011)...Barclays, JPM; Deutschbank etc are all parts of the same entity.
"Right. When pigs fly will there be a real investigation."
I would say lets go build a trebuchet and make it happen, but we'd probably get charged with manufacturing a biological weapon (swine flu delivery system,) and then, after that, they'd deny that it was actually a pig that flew, but rather it was a javelina, and thus no pigs actually flew, resulting in nothing more than a token investigation with the normal kickbacks to the government in the form of fines that are already budgeted in as part of the cost of doing business.
"...resulting in nothing more than a token investigation with the normal kickbacks to the government in the form of fines that are already budgeted in as part of the cost of doing business."
lol...nailed it.
Ok here's the deal, we're going to rack up insurmountable debt, call it sovereign bonds & print currency against credit & debt, then you can play with the piles of currency however you wish remembering to throw some back our way around election time and don't worry, if you happen to break a few of the millions of regulations that we are hopelessly inept in tracking (that we've put into place to placate the sheeple) and someone notices, you'll still have more than enough to pay the piddling fines we'll have to impose on you.
And the game continues.
If they're investigating now it means they've known for 10 years, minimum.
US regulators just collecting the vig. Nothing more. Cost of doing business. Keeping up appearances. Whatever. Every now and then they sanction you, pennies on the dollar are handed over in tribute and the game moves on.
I you haven't figured out this whole damned thing is rigged by the large banks (including central banks) you aren't too sharp. 2008 was a rare glimpse of reality. They will NEVER let that happen again.
I, for one, am shocked, shocked I say, that it's only a civil investigation, and that no criminal charges will be considered.
/sarc for those of you whose lips move while you read.
They can not make campaign contributions if they are in jail. Campaign contributions fix everything.
Put the boys from GATA in the witness stand.
Even then it won't make any difference to the 'clean bill of health' outcome.
A flock of black swans is need to bring this scale of corruption down because gold manipulation is just a metaphor for the global currency war and the smoke screen covering the terminally flawed economic model of deficit spending.
I'm Long nail guns
The boys from GATA will never be allowed to testify, because this will never reach a courtroom.
Absolutely correct. These banks are essentially state-owned by our .gov overlords and follow orders while a blind eye is turned so they can make illicit money elsewhere. I feel the price has been manipulated due to arrangements made with the Chinese in turn for treasury purchases and a cheaper price for the acquisition of physicial metal over the years. To what ends one can only speculate.
Le'ts call a spade a spade. A handful of Rockefellers and Rothschilds own both, banks and governments. The rest is noise used to distract us.
(Please note that owning a large part of the world does not mean that these bastards can determine the outcome of everything. Nor is it necessary to micro-manage anything.)
agree, choice- ZZ) all of the above. so be it. we know the rules. since the staff is bloated, they must need some entertainment to distract themselves and keep the afront looking good. not even fooled in the least bit.
watched the msm news last night (gasp), and i honestly can say the news is one fluffed lie from start to finish. since almost everyone has no critical thinking, (what tv does in the first place-zom-by-i-fies the brain), i see the effect. the outcome is as easy to understand as it gets. we are truely a lost species heading to a predetermined outcome. that outcome is a follow the money to death and destruction of the masses. they don't give a fuck about you - g.c. rip...
Im not holding my breath. However, it is positive that a convenient non-US scapegoat has presented itself in the form of HSBC and LBMA because, as we all know, COMEX and the Major US Banks are completely without shame, sorry I meant blame and are all simply doing God's work......
long pea shooters
But Doug Casey says that there is no manipulation of PMs, and that anyone that disagrees with him is from the moon.
"I don’t believe in the conspiracy theories regarding gold price suppression. There’s zero credible evidence for it, and I’m embarrassed having to discuss the subject with outsiders who have heard it; for them it’s more evidence that gold investors all wear tinfoil hats."
http://www.lewrockwell.com/2015/02/doug-casey/doug-casey-on-isis-gold-an...
AND I DON'T BELIEVE IN THE HOLOCAUST
AND I' M SORRY ABOUT THAT!
But not embrassed enough to prevent one of his employees, Ed Steer who is also affiliated with GATA, from writing a column which almost daily references PM manipulation. Perhaps a reflection of an Organisation that has no moral code and will take business from anyone. Playing "Good cop, bad cop" allows Casey to remain accepted by the establishment whilst his minions bring in the "Tinfoil hat" brigade? Not an Organisation I would choose to do business with..
But...but...aren't you gonna follow the pied piper to his Galt paradise in Argentina?
Wake me up when someone goes to jail
I'm sure you'll be awake when they finally get around to dragging us ZHers off to the looney bin for our dangerous beliefs.
*Ding Dong*
Hi! I'm FBIGuy, is Disc Jockey home?
He isn't?
Could you give him a call and ask him to meet me here, that would be great.
Can I come in to wait?
No?
Ok. I'll sit here on the porch and we'll talk about him, your sons, and your new grandson.
(Pretty much how it went down.)
All this manipulation was caused by a single crazed lunatic. But he was shot with a nail gun by another crazed lunatic. But we have him in jail. Crime solved. Everybody and the bankers can continue going on doing what they do. Justice served.
moarest funny comment eva
Ah, but haven't you figured out that we're shifting into the next phase of contraction: cannibalism. Some 'regulators' have figured it out more clearly than others, that these banks are now ripe to be milked for fines and settlements over 'violations'.. not like anybody involved gives half a shit about the 'violations' , just that when everything stinks it's easy to whip up a few billion in spending money by leaning on whoever is conveniently nearby and has any money in his pockets.If you like, it's a measure of where along the collapse curve we are- a bit more of the big players eating each other.
They need to nail these fuckers. Clearly it doesn't go down far enough and long enough when the Fed hits it...
See, the SEC does have a role, and its clearly to take out the competition to the banks when they manipulate it...
Oh if you think that's fun, you should see what they're doing in the realm of credit card processing! They've got collusion, disparate pricing, bait and switch, and all kinds of money laundering. It's a real smorgesboard of criminality - all thanks to the Gov't enacting all the laws the banks write for the Gov't to enact.
Meanwhile in Russia and China...
Wow, the Justice dept. is investigating... Yeah that investigation is so in their interest...
When the corrupt can no longer ignore the corruption in the face of public outrage, conduct a public farce of an investigation, then stamp it done and over with.
Good for another four or five years of can kicking.
Good for another four or five hundred years of can kicking.
Fixed.
That "Fixed" thing is kind of played out. Isn't it? Kind of like saying "Not!" after a sarcastic remark. Or "Jolly good, Old Chap"
Jolly good, Old Chap is tapped out?
Damn, I haven't even used that one yet...
I gotta get out more.
Beware the Blow Out.....
http://trending.report/walmart-people/5/
Hope! HOPE and CHANGE!!!!
but not the type of spanking practiced in Saudi Arabia, right?
These banks are going to get out of this smelling like roses. After the "investigation," nobody would ever say that the PM market was rigged. Done and done...
Time for the corrupt to get paid and what better propaganda that selling the hoi polloi on the idea that the government is acting on their behalf.
Slick.
DOJ to TBTFs: "How much did ya make"?
TBTFs: "Quite a bit..."
DOJ: "Ok, let's say we'll fine you 200 M in total..."
TBTFs: "No way, that's too much..."
DOJ: "Ok, how about 100 M... "?
TBTFs: "...only if we can deduct these losses from our taxes"
DOJ: "OK we have a deal, let's do it".
I look forward to the mass trials in the style of the Maxi Processo (Maxi Trials) of the Mafia in Sicily during the 1980s that resulted in hundreds of defendants convicted.
http://www.youtube.com/watch?v=_nPEgV1oqX0
Come on! Is there not one prosecutor in America with the testicular fortitude or vaginal vigor to "take on the mob"???
Yes, it is a David against Goliath..yes, the Wall Street mob will attempt to destroy you...yes, it is Mission Impossible. But when has that ever stopped a REAL HERO. If one prosecutor will lead, the public will support the prosecutor.
The prosecutor who leads the charge will become a national hero.
Tom,tom,tom...
DEATH TO THE MONEYCHANGERS...
FREE YOURSELFS WITH REAL MONEY....
"vaginal vigor"
I knew there was a name for my ex wife's condition!
Hate to break it to you, but our laws are too fucked up and our government officials are either too brainwashed or too corrupt to do what they should have done long ago.. They won't be taken down via the rule of law, which you should find really disturbing.
"The Justice Department is investigating..."
I stopped right there.
Kind of like when you see the impossibly tiny clown car drive out into the center ring in the circus. You KNOW there's about ten clowns packed inside and the last one is going to be 10' high on stilts. It's a real crowd-pleaser but it's just so... predictable.
my co-worker's ex-wife makes $80 hourly on the computer . She has been out of work for 10 months but last month her paycheck was $12310 just working on the computer for a few hours. look at this now... www.globe-report.com
Well I'm sorry, but not everyone can sit at home and get fucked by a monster dick in front of a webcam for money.
Holder, probably.
But not everyone.
Hey, when you said "my co-worker", did you mean that like "my friend?"
Oh, you poor fellow.
Did it make any difference in the alimony or child support?
You are in the wrong business.
I am a TBTF bank and Yellen has just credited my account this month with another Trillion.
What did i do? Just had to make a call to her -after all she works for me
.
Ponzi can surely attest
The gold in the vault is the best
But then he checked leases
For 10 times the pieces
And said: "Now I'm really impressed!!!"
The Limerick King
Nailgun run
.
No, they are being probed for political donations.
Essactly! I have a feeling they find nothing.
...except for some cash under the pillow.
When/if such an action were to occur it will be because the big dogs want it.
If they are just upending the couch cushions and looking for spare change to finance the next batch of Obozo phones from China, then the DOJ judged their counterparts across the pond to be impotent wankers who wouldn't dare retaliate... If they were to retaliate in kind, it could be the end of the world as we know it. If they retaliate asymmetrically, it could be interesting...
I don't have much faith in the human lawn jockey's skill at game theory, if he and his and entire staff cannot find a single criminal in the C Suite of a major US bank (or a whore in whorehouse), then this seemingly desperate escalation seems ill advised (on their part).
On the other hand... Global Thermonuclear War Bankster Edition... is likely to dethrone or decapitate at least a banker's dozen of really evil bastards... Burn it Down.
Human lawn jockey?
Dass Ray-cisss...
But funny as hell. Coffee everywhere.
Hang all the bastards.
"In related news, the price of physical gold attains its real price of $46,582"
That's what I sold my Mexican stash for with Putin. "Dolares please" after he tried to pull a fast one wit dem rublie things.
Me and El Mayor of Caracas were laughing about it but then he got arrested and I had to flee the country in my "motor boat."
Ten cents a gallon in that Surplus Navy attack boat is one deal I sure will miss...
How many banksters charged after 2008?
"Bag" Holder has been "watching" the terrststs since OKC, you think he's going to pipe up now? Sheeeeit....
all for show...
Wake me up when one, even just one banker goes to jail fore his fraud and illegal manipulation. Eric "Fast & Furious" Holder has a spotless of zero prosecutions during his term. You might say his record is "exceptional!"
Under scrutiny are Bank of Nova Scotia , Barclays PLC, Credit Suisse Group AG , Deutsche Bank AG , Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Société Générale SA, Standard Bank Group Ltd. and UBS AG
Please explain why the same names continue to be named and yet they keep their license to operate.
Shut them down then you stop the others being corrupted. Damn it's not that hard
TBTF
:)
Law enforcement is for the slaves, there are no laws for their captors.
Too rigged to fail
Too broke to fail
i've said something similar before, but the TBTF banks should openly engage, as an institution, in coke dealing, sex slave smuggling, and murder for hire. if they can't ever be prosecuted for financial crimes because of the daisy chained implosion it would create, then they literally won't be prosecuted for anything.
And around and around it goes without end. It's farcical. A ceasless procession of...processions.
Something's up. Thanks for the report, Tyler.
Probably figured out a way to blame Russia and China for manipulating the price so they could build their reserves at low cost.
Yeah,
Nothing is going to happen in the PM market until a collapse happens. Once it does, they will use an excuse like PM manipulation is the cause of the collapse of our shit economy. Inside banker trading and gold manipulation did it, oil did it, not debt based currency, not unemployment, not decefits, not war, not spending what we receive from actual tax revenue, not the propping up of stocks from low interest rates, not derivative speculation. The system is fucked, they know it. When??? Go ahead and get on with it. The IMF and SDR, back it w/ PM's. Then let the manipulation start all over. I do like how they can put actual PM's inside paper currency. Hell, silver is an antibacterial. Do you know how much actual fecal matter, cocaine, and snot remnants are on your dollars?
It's Russia and China's fault.
More taxpayer dollars out the window...
Off with their Fucking Heads...let ISIS do the severing.
Get ready for another 50 cent wrist slap, yawn
but,,,but,,,but Pippa Malmgren says it's all conspiracy theory!!!
The banks are Jeffrey Dahmer and the Justice system is run by Ted Bundy.
In other words, move along,nothing to see here folks.
This whole blah, blah is a scam or setup of some kind. Not sure which kind, but nothing is legit any more. And the CFTC already spent years investigating and came to the official conclusion that "everything is above board" (because nothing is wrong, by definition, when carried out by order of a government).
Unless, of course, they're finally ready to purposely destroy the dollar, and all the predators-that-be have huge leveraged long positions. Which is also a scam and setup.
The Magic 8-Ball indicates the following likely outcome.
Goldman and JPM will settle for a big fine (in lieu of future taxes, of course) and no admission of wrongdoing.
The others, well, that all depends on the degree of subservience, eagerness, and creativity they display in fucking over Russia on behalf of Vichy DC.
A 'big fine' in the sense that Ma and Pa Kettle will wolf whistle on reading it, but anyone with a clue will recognize as a fraction of a percentage of their net.
To both of you above. Yes, that has been exactly the pattern to date. However, this time seems pointless and unnecessary, since everyone awake understands the fraud now. For that reason, this smells a bit different.
indeed, this smells a bit worse ... when the banks are cleared of wrongdoings or when the judge throws the case out of court.
On behalf of everyone here, DURRRRRRRRRRRRR!
This is what is happening in a parallel universe, not here. Show me the hanging tree and I will believe.
OMG ! Stop it ! My stomach hurts I'm laughing so hard ! Please ! You're killing me ! Eric Holder and the US DOJ is going to actually investigate a real scandal - the PM manipulators? Really? And you're taking this seriously? Please ! I'm begging you, stop it ! This article isn't even worth posting. Holder. What a tool.
Brought to you by the same people that refer to Facebook as Social Media.
The larger manipulation will move prices 25%, and these guys will get busted for colluding on .1% price moves on facebook chat on some random tuesday afternoon. Same with libor. The real movers would not do it this way.
YAWN ...
In my younger stacking days, I would be fist pumping this news - but now I just see it for the hopeless pile of steaming horseshit that it is, and return to stacking.
+100 for.......but now I just see it for the hopeless pile of steaming horseshit that it is, and return to stacking.
The shakedown operation to loosen up Hillary donations
Somewhere there is a very simple answer to all this banking problem...
the words principle only come to Mind. but i am still looking
According to what i read
Three more dead banksters here:
http://www.lohud.com/story/news/transit/2015/02/23/metro-north-crash-rep...
But my google doesn't confirm, were they banksters?
Barbaric relic riggers.
Now say that 10x quickly.
I'm not the barbaric relic rigger
Or the barbaric relic rigger's son
But I can rig barbaric relics
Until the barbaric relic rigger comes.
Broad based market rigging = The Fed ZIRP and out-of-thin-air money printing is doing what it can to prevent absolute collapse because of astounding debt levels worldwide - though ZIRP and money printing ultimately contributes greatly to the already mammoth problem. Meanwhile, as ZIRP and money printing continue (Waiting for the next QE). Instead of deleveraging government debt continues to skyrocket.
I feel various price rigging, if there is any by various banks, to be miniscule in comparison. Criminal investigations and charges these days are often political (S&P fine for downgrading the US) and an easy method of shakedown for billion dollar fines (Revenue, baby!) in an era of drunken sailor government spending and astronomical debt levels.
Please help me understand something I do not get.
If there is all this rempant rigging that is outta control going on, how the fuck is there any supply? I don't understand how I am still able to purhases silver and gold if this is happening.
Word
The rigging is done in paper ETF's and high frequency trading algorithms. Bascially, they trade more then they have on hand at the Comex. There are paper receipts that are not backed by physical Jr.
But they aren't fooling people much anymore. Silver sales are through the roof. Consider this an opportunity. That is what govs. are doing, buying while it's cheap.
They are also maintaining faith in stocks, 401k's and banks by not allowing the price to reflect its actual value. They do not want a run on the banks. They like it tracable and digital so they can tax everything and keep you in debt and slaving away to pay interest. I could go on and on but do some research.
I have wondered this myself. I think that American bullion retailers get supplied no matter what. There were long delays after the '08 massacre, and the bull break out of '11 was the result.
The scheme will blow sky high if premiums go up too much too fast. Supplying retail is second only to industrial clients (silver).
I have noticed that many of them send me sales ads whenever there is a seal clubbing. Why are they so anxious to sell low?
Prices rising, I don't hear a peep. These guys are good, they are. They know how to con everyone.
Well how does Jewelry keep a 50% or more Mark Up in the American Market??
- Americans are idiots
- Jewelry Prices are fixed
- There is a Cabal or Network setting Prices for Jewelry
- It has always been this way
- Americans always pay too much for everything
Better send in 007...
http://youtu.be/PSbj2Mx2By8
A message will need to be sent. Shitgum accidents are coming. Some low level banker or DOJ employee's corpse with a note nailed to it will be found.
will turn out just like BaFin's investigation - not guilty
They’ve merely been rebidding on the same pet rock to advance leverage.
So, who is behind the gold rigging, and who is behind the investigation of the gold rigging?
Do the riggers know about this investigation? Why would they allow it? If they are allowing it, what's their game?
I've no doubt gold, and silver, are being held underwater. I've also no doubt that TPTB and all their friends are in complete disarray, and that all parties concerned are trying to amass enough 'evidence' on everybody else so that when the shit DOES hit the fan, they can point somewhere else.
We hear about this because it involves government agencies...what we AREN'T seeing are all the private investigations being conducted by the banks, in order to 'get the goods' on all those government folks...
It's just more warning shots being fired across each other's bows..."Whatever we find, we'll hold. Unless we need to release it, and if things get THAT bad we'll be sure to take you down with us..."
It's a financial arms-race, with each side trying to insure MAD should things go horribly wrong.
Just follow the trail..
http://harveyorganblog.com/
I have the O/U at how many people will be arrested for this at 0.5 at -100000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
It is almost comical, that so called insiders and well informed personalities like M. Armstrong, D. Casey, Pippa M. can deny what is so blantantly obvious in every single market , yet precious metals is the exception? Huh? How much favor does being a Trojan Horse pay? What a circus.....
Nothing will happen. All bankers are liars, whether they know it or not. Utter fucking banker-induced chaos is on its way. Prepare accordingly.
Since it's 5 degrees on Wall Street. ...you could argue that "Hell has frozen over".....
Actually the colder it gets the faster the algo's run because there's less resistance in the lines for the HFT's to pass the barrier. Simple physics and laws of thermodynamics. If it ever goes to -50C the hedgers and their computers will have "Multiple" orgasms knowing if they trade at just the right temperature they'll beat the competitors. Ain't it great!
What's the charge? Inadequate rigging oof the gold market?
'
'
'
Tyler!
Are you supposed to print the news? Not the old news, and certainly not something we all knew about!
O?–<
V-V
If a bar of gold falls into the JPM or HSBC gold vault and you know the price is rigged...did the bar ever exist?
This is the Schrodinger world where assets exist only depending on how you look at them. Sometimes they are there but when you look away, and look back, they are gone.
Economics are in the realm of quantum physics now. Do you know where the asset or the liability are? Maybe if we send Yellen through the CERN particle accelerator and collide her with a Bernanke particle we could get a fair value on the S&P500.
Until we can get those measurements I think we're stuck to hoping for the best. Just throw the bowl of spaghetti against the WSJ and buy whatever stock the spaghetti sticks to.
If you have a better strategy please share.
The plot thickens.
So now, after oil and gold/silver have been slammed, somebody is paying attention to possible manipulation schemes whilst the dollar is top dog.
Watson, I think a conspirancy is afoot.
Suddenly paper is leveraged beyond delivery. Stockpile numbers are not true????
My Lord Watson, what are we to do?
How bout: "Wake the fuck up!"
Nuff said.
Why don't more Zero Hedgers applaud those who allegedly manipulate metal prices lower?
Assuming you folks believe that prices will eventually rise, you should be thanking these people - and your lucky stars! - that you live in a time and place where silver and gold are far lower than they should be.
Celebrate by buying more, but don't be bitter and angry about it. Be thankful prices are as low as they are.
You folks aren't in this for the short run, right?
"Celebrate by buying more, but don't be bitter and angry about it"
How about we celebrate by buying more, and then force the guilty banking parties into sweltering cattle cars at gunpoint?
in addition to ending all paper gold transactions, how about also doing away with pre-market and aftermarket trading? what legit purpose do they serve? why should anyone be able to dump tons of gold and silver into illiquid sunday nights in an obvious attempt to move the market?
The same people behind the rigging of the gold market have been behind the rigging of the silver market. The CFTC had an "investigation" open for something like 5 years after which, in the finest tradition of either complete corruption or Inspector Clouseau-like incompetence they said they couldn't find any wrong doing.
So now people expect the same miscreants to be punished for doing exactly the same thing in the gold market?!
Haha! FK ZeroHedge..lame ass shit. Give me some Goddamn doom! All I get is what the the Fed gives me, the Can getting kicked downed the road. I'm thinking the year 2025 for the collapse. I channeled a legit future seer for that year. Rolls eyes.
"the discovery that the manipulation cartel in Europe involves absolutely everybody will shock and stun the world"
No it won't. most of them won't care. This will be forgotten about just like the other manipulation scandals the public is so upset about.... /s
Bart Chilton already looked into it, this is bullshit <sarc>
Not sure what the debate is about...it's already in the record as a foregone conclusion:
"Central banks stand ready to lease gold in increasing quantities should the price rise."
?Alan Greenspan
Yeah, right, they willo do something this time. When Andrew Maguire told them what manipulation will happen 2 days in advance and then in real time pointed out what was happening, the CFTC could not see anything.
http://en.wikipedia.org/wiki/Andrew_Maguire_(whistleblower)
LMAO - folks also believe Obama is American
Thats like asking criminals to revamp the criminal justice system to take away privaleges.