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UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal
With countless settlements documenting the rigging of every single asset class, it was only a matter of time before the regulators - some 10 years behind the curve as usual - finally cracked down on gold manipulation as well, even though as we have shown in the past, central banks in general and the Fed in particular are among the biggest gold manipulators.
That said, we are confident by now nobody will be surprised that there was manipulation going on in the gold casino. In fact, ever since Germany's Bafin launched a probe into Deutsche Bank for gold and silver manipulation, it has been very clear that the only question is how many banks will end up paying billions to settle the rigging of the gold market (with nobody going to prison as usual, of course).
Earlier today, we learned that the Swiss competition watchdog just became the latest to enjoin the ongoing gold manipulation probe when as Reuters reported, it launched an investigation into possible collusion in the precious metals market by several major banks, it said on Monday, the latest in a string of probes into gold, silver, platinum and palladium pricing.
Here are the details that should come as a surprise to nobody:
Global precious metals trading has been under regulatory scrutiny since December 2013, when German banking regulator Bafin demanded documents from Deutsche Bank under an inquiry into suspected manipulation of gold and silver benchmarks by banks. Even though the market has moved to reform the process of deciding on its price benchmarks, accusations of manipulation have refused to go away.
Switzerland's WEKO said its investigation, the result of a preliminary probe, was looking at whether UBS, Julius Baer, Deutsche Bank, HSBC, Barclays, Morgan Stanley and Mitsui conspired to set bid/ask spreads.
"It (WEKO) has indications that possible prohibited competitive agreements in the trading of precious metals were agreed among the banks mentioned," WEKO said in a statement.
Don't hold your breath though: "A WEKO spokesman said the investigation would likely conclude in either 2016 or 2017, adding that the banks were suspected of violating Swiss corporate rules." Those, and virtually all other market rules.
The good news is that unlike Bart Chilton's charade "inquiry" into silver manipulation when after years of "probing" the CFTC found "nothing", at least the Swiss will find proof of rigging for the simple reason that it is there.
he banks face financial penalties if WEKO finds them guilty of wrongdoing, the spokesman said, though he declined to comment on the size of any possible fine.
No please, anything but "financial penalties" for rigging the gold market.
Aside from regulatory probes, a number of lawsuits have also been filed in U.S. courts alleging a conspiracy to manipulate precious metals prices.
Commenting on the WEKO probe, a Julius Baer spokesman said the bank was cooperating with authorities.
In a statement, Deutsche Bank said it was cooperating with requests for information from "certain regulatory authorities" over precious metal benchmarks but declined to comment further.
Representatives for UBS, Barclays, Morgan Stanley and HSBC declined to comment. Mitsui was not immediately available for comment.
Some so-called experts promptly scrambled to talk down the upcoming proof that so-called "paranoid" gold bugs have been right all along:
The impact of the probes on wider precious metals trading was likely to be muted, according to Brian Lucey, professor of finance at the School of Business, Trinity College Dublin.
"The question is not if individuals, or groups of individuals are collaborating to rig the game for themselves, the question is if this has any material effect," he said. "I'm not convinced collusive behaviour will have a meaningful effect micro-economically to the structure of gold trading around the world."
Oh so the question is not if traders and banks made billions in illegal profits by rigging yet another market, but "if this has any material effect." Give this man another distinguished financial professorship title: with observations like that what can one say but... "Keynesian genius."
* * *
However, as we said above, none of the above, and certainly not the idiotic "finance professor" statements, will come as any surprise to anyone.
What will, however, is that unlike previous gold probe cases, this one will actually have consequences.
How do we know?
Because just like in LIBOR-gate, just like in FX-gate, it is the biggest rat of all, Swiss megabank UBS, that is about to turn on its former criminal peers.
As Bloomberg reported earlier "UBS was granted conditional leniency in Swiss antitrust probe of possible manipulation of precious metal prices, a person with knowledge of the matter said."
Bloomberg adds that the "bank may face lower fine than six other banks and financial firms suspected in probe or may avoid penalty altogether, person says."
Why would UBS do this? The same reason UBS did so on at least on two prior occasions: the regulators have definitive proof it is involved, and gave it the option to turn evidence and to rat out its cartel peers, or face even more massive financial penalties.
UBS promptly chose the former, and took the opportunity to minimize yet another key civil (and criminal) market manipulation charge against it, especially after it was already branded a "criminal recidivist" between Libor, FX and, of course, the tax evasion scandal: one more manipulation scandal and the bank could well lose its license to operate in NYC.
Which simply means that now the official countdown on the announcement of what will be revealed as the biggest gold-manipulation and rigging scandal in history, has begun.
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Ha! There is no manipulation you tinfoil Zhers! Go back to your fringe conspiracies!
You forgot to mention Mom's basement. Amateur.
Bullshit....."nobody gets outta here alive"
I bet you the price of gold will go down on these news...
Slammed like a $2 basketball in the Projects.
The Fed, through its member banks, controls everything it can, ESPECIALLY gold and silver, as those are the barometer of confidence for the reserve currency.
Whether or not UBS rats someone else out does not hide the fact that these fiat whores manipulating perception cannot, and will never be able to, print physical metals. Bankers cannot control nature, and nature has a way of coming back into balance.
They want you to hold USD, bonds, and equities. Doing so enables them to be the counterparty who ultimately controls your destiny, so think through your options.
The rig is the LBMA itself that currently trades more than 170M oz of 'unallocated' gold oz in the spot market each day.
http://www.safehaven.com/article/36534/lbma-data-points-to-gold-and-silver-default
Theze Bytchezzz OWE BigTime For The PM's & Miners' MEGA-LOSES...........
Don't hold your breath though: "A WEKO spokesman said the investigation would likely conclude in either 2016 or 2017
And THEN conclude that agents acting on behalf of govts. are NOT manipulating the price, got it. We've been down this gold and silver scandal road before, next please.
Proving, once again, that there is no honor among thieves.
DOJ and SEC:
cuckolded
Sounds kinda like a Cuckservative like Boner or Mocconnel.
All stand around with their hand in their pants furiously beating there meat whilst their wives or countries get fucked and they get off on it.
Undeterred
By
Scruples
“the bank could well lose its license to operate in NYC.”
Huh? So you’re going to kick a successful whore out of the brothel?
I don’t think the Fed and BIS Madams would allow that.
Send just one of these motherfuckers to jail and we'll see really quickly just how massive the rigging is. We need to sue the regulators for malfeasance.
Honor amongst thieves?
Who the fuck cares? How do I get my money back is what I wanna know!
Of course, the far greater part of the mainipulation is orchestrated by The Fed and BIS on COMEX through their BB Agents dumping naked paper shorts into the market, usually on Globex at the least liquid times of day. Like 3AM - yesterday provides a perfect example.
The CFTF investigation did NOT state there was no manipulation but that they didn't find anything "Actionable". For details, see above.
Right. Daily settelment price manipulations pale in significance to the long term price suppression via the massive unallocated and paper gold supply fraud.
ubs isnt going to do shit. you heard it here first.
"who the fuck cares..."
if 98.9% do not (0.1% ZHers)?
All jokers in the master's court, playing out kabuki, as scripted.
All veying for the master's favors, while heading for the abyss.
Fool's foley.
Life is sometimes a Lemon ...
https://www.youtube.com/watch?v=BF1wVv8OnfE
I Want My Money Back (Meatloaf - '93 recording)
BO's DOJ refuses to prosecute any of them. They have signed "no prosecute" agreements before all of the previous fines.
SuperRay : . . " We need to sue the regulators for malfeasance. "
In their "courts" ?
The game is rigged, son. Completely and criminally rigged from top to bottom. And a lot of your neighbors probably work for the system (likely in some small capacity) or rely on it for a check. So that's why the whole thing is inevitably gonna crash & leave nothing but a pile of rubble.
Perhaps there is a bus missing the proverbial person to be thrown underneath.
Or everyone just refuses to draw straws as this week's scapegoat.
gold $42/oz!
Cheapest I could find was $250/oz.
Stock up!
http://www.alibaba.com/product-detail/1-oz-22k-American-gold-eagle_13189...
the 42 gold is found here
http://www.federalreserve.gov/Releases/bulletin/1208assets.htm#fn1
"Gold stock is valued at $42.22 per fine troy ounce"
they should trade it for securities to expand their balance sheet.
With a 500% premium on actual physical metal.
Picked up 50 oz of silver today .... happy and sitting pretty
It's not quite that simple... WEKO has specific responsibilities and the SNB marks its gold to market every month, unlike certain other CBs in the G10 club. Back in April WEKO said it would wrap up the LIBOR/TIBOR investigation later this year. That is the litmus test. CB's care far more about LIBOR than they do about the gold price, which is why they looked the other way doing the last crisis when banks weren't engaging in interbank lending (for all practical purposes) but LIEBOR didn't explode...
It is my prediction that we will see 1-2 UBS affiliated commodities traders meet untimely deaths.
After this, there will be no one willing to spill the beans.
There is far too much money in play across far too many global entities for this to completely unwind in this fashion.
It will take a major market event for the truth to be revealed.
Or worse, any public uncovering of gold manipulation will be used to make the case that all people who own gold are criminals and treasonous scumbags.
Like the old joke, that the first thing a new President sees is footage of the JFK assassination, which curiously looks like it was taken from the "Grassy Knoll", and after the video is over, the President is asked, "Any questions?"
Hang the bankers in such a way that there will be no "material effect."
Upside down with their head in a bucket. Slowly fill bucket by dripping water into it. Banker ultimately die but not by hanging.
"UBS promptly chose the former, and took the opportunity to minimize yet another key civil (and criminal) market manipulation charge against it, especially after it was already branded a "criminal recidivist" between Libor, FX and, of course, the tax evasion scandal: one more manipulation scandal and the bank could well lose its license to operate in NYC. "
EXACTLY how many times are these scumbags ALLOWED to steal and cheat and defraud their customers in ever single manner possible in every single trade offered before the government finally prosecutes and imprisons the guilty PERSONS and compensates those stolen from and cheated and defrauded?
What is the fucking point of having a huge govenment regulatory bureaucracy if it does practically nothing to stop blatant unrepentant recidivist criminals from plundering literally trillions from the Citizenry?
ToV, you are confused. It is precisely the purpose of "having a huge govenment regulatory bureaucracy"
-- to allow blatant unrepentant recidivist criminals to plunder trillions from the Citizenry. The more your business is regulated by the government, the more you become an arm of the government. Tyler points out UBS has rolled over again and again. Hmmmm... Price of being allowed to do business as an arm of the government.
Yes. "A WEKO spokesman said the investigation would likely conclude in either 2016 or 2017..."
Since this was Reuters (bankster media), it could be a signal that the gold train will leave the station around, or soon after, election time.
Who'd keep the revolving door in motion if there wasn't a huge government regulatory bureacracy?
"One more manipulation scandal and the bank could well lose its license to operate in NYC"
I didn't know it was April Fool's day already? Jokes aside, the business model for Wall Street banks, includes fraud, market manipulation and price rigging. By these criteria UBS is a model company and banning them would mean a ban for every other bank. I wish UBS were banned, but nothing of the sort will happen and if the U.S was deranged enough to ban UBS, Europe would retaliate; bringing financial armageddon sooner than planned.
You got that right. Stocks, bonds and RE are all in FED engineered bubbles. Since 2008, the FED itself has become the bad bank by purchasing trillions of toxic assets, most notably the MBS’s that would have brought down most of the major Wall Street banks and other foreign banks as well. Today, they cannot exit their bloated balance sheet because most of those supposed “assets” are indeed worthless liabilities. They can’t normalize rates either (due to massive debt loads), so they really have no other options but to continue QE and to print. That means debasement of the USD, a loss of purchasing power and more inflation.
Dear Pay of Bigs, (sorry I'm lysdexic)
You couldn't be more right. Effectively, when the gig is up, they will all tumble simultaneously.
;-D
The main goal of the manipulators was to create a counterintuitive set of pricing to keep public interest at bay. I agree that the financial authorities want people holding stocks, bonds and other products within the financial sector. The biggest goal is to keep confidence in the credit based currencies. After all ....credit based currency is the foundation upon which all power of the establishment rests.
Once confidence wanes in fiat, interest rates must rise appreciably to contain a total flight into alternative assets. The economic cataclysm that would result could undermine the globalist agenda for a century or more.
The stakes are huge for the paper pushers. They may very well find themselves at the end of a rope if they fail to contain a surge in both demand and pricing in gold.
They want you to hold USD, bonds, and equities. And when you don't, first they'll manipulate the price, but eventually they'll take away the freedom to do otherwise. The house always wins!
I look forward to no one being punished
I long for the old days when bankers were taking base jumping lessons from 30th floor windows.
- No good deed shall go unpunished
At freefall speed, just like building 7
JPM isn't on the list, of course. We talk about GS, but JPM is in a whole 'nother league.......
Shhep, -1 for the avatar.
Are you riggng them too now it went down big today? Sarc
What happened to the days when people went to the precious when markets go down. I am sick of watchng this shit and I d mean shit
"in exchange for conditional leniency...,offer to rat-out their cartel peers...on at least two prior occasions..."
Once a thief, always a thief. TBTF is TBT Jail, corporate fascism writ-large. Orwell would not be surprised. Time and again, the facts seem to interfere with some fantasy narrative of free markets and honest capitalism. Who are the conspiracy theorists of the last decade? The cocksuckers in-charge.
please do not forget: UBS is also a Rothschild Bank!
I left my MDB Instruction Manual in my other pair of tinfoil pants.
Damn tinfoil pants! Why didn't I think of that? That will go great with my cellophane underwear. Things are gonna get swampy.
And, you forgot to bitch slap the " stackers ", too.
WTF are you thinking ?
Fucking NSA and FED trolls - why, when I was a boy, trolls could eat you alive.
Nowadays, fuckers don't have the aggro to even nibble at toe cheese.
I blame it on the GMO feed trucker cheeken they be eatin'.
Well of course not. They riggers will be absolved just like Hillary Rodham-Clinton of all her transgressions, by the bought and paid for "authorities".
UBS rats everybody out, not only their competitors, but even their clients.
Awesome! Time to add to my PM short position.
LOL!! Yes, everything is awesomer...er..!!!
Wow. You are such an imbecile or are jesting. I go with the first one!
Hopefully your calls are better than that.
He was jesting after all..if you had bothered to READ the thread BEFORE you posted...
And this really is a NON STORY.
Anybody who has a brain understands that the Gold Market Rigging has been ongoing even before the 1960s.
Ever READ about the London Gold Pool and the fraud and corruption involved in the Bretton Woods "Gold Standard" scheme?
The truth is that it has been understood that Gold is what money is, even though the oligarchs go out of their way to demonize it and supress the price...while they are quietly hoarding it.
The sad truth is, when all is said and done, is THAT THESE FRAUDULENT BASTARDS will NOT spend ONE FUCKING DAY BEHIND BARS and you can take that to the Bank.
evidently, I was not the only one to miss his jesting. I agree 100% with the rest of your post & even tweeted newsstories about that just this morning
Yeah. I was feelin' a bit onery. Fight Club and all o' that.
Tis better than my usual depression.
LOL.
Elite bankers might trade tickets to the game and believe they control the game. When the game gets too big for them to control and spectators start tearing down the fence to get in they're gonna get trampled along with all the others that believe gold is just a barberous relic. Then we'll see how much those tickets are worth.
The SEC has completed its wide ranging investigation into massive gold market manipulations and is pleased to announce that global criminal mastermind Amjust Apatsy has been traced back to a static caravan in a remote seaside resort in North Wales, UK and is being extradited to the US to face criminal charges.
No banks were found to be at fault. It was just one guy with a laptop in his mums caravan.
Honestly.
It's coming apart. The US is trying to start a low grade world war with Russia to cover the imploding economy. Because they know a war is the only way to clean up the economy or better still cover for the people who destroyed it.
"Which simply means that now the official countdown on the announcement of what will be revealed as the biggest gold-manipulation and rigging scandal in history, has begun."
'bout time.
Yes, the countdown has begun. The time frame for the paper gold game to end is 2016-2017. The top guys are setting up to crucify those underneath them and blame them for the paper gold crash and debacle.
Just laying the foundation under those who will take the whole rap. Duh Big Boys is getting ready to skate away on the backs of the flunkies.
If only...
While I took the opportunity to buy at wonderfully low prices compared to what they should, and will, be.
As fiat collapses, precious metals rise. Look at the charts for those fiats that are falling fast.
UBS must be losing their club membership.
Survival instinct. Rats will eat their own young if they have to but they could learn a trick or two from UBS.
Rats flee sinking ships. Its true. Look it up. When sailors saw rats jumping overboard, they too basically abandoned any hope of salvaging the ship. The rats KNEW.
But Jeffery Christian says "Paper Gold is GOOOOOOOD".
Bungholio has a crisp new gold dredge cert and a dusty shelf in a swissy warehouse to sell to all of you!
"Which simply means that now the official countdown on the announcement of what will be revealed as the biggest gold-manipulation and rigging scandal in history, has begun."
Well...Good luck with good luck with that, and I sincerely mean it. I'm still not holding my breath though.
And the paper gold price doesn't move on the news.
Free Bart Chilton Corzine!!
The trouble with all these probes, and most especially with probes into the precious metals, is that the governments conducting the probes have among the strongest interests in the effects of the behavior they are in theory prosecuting. Massive conflict of interests. As such, I don't expect much from official investigations into market rigging. Why would the primary beneficiaries want to "fix" something which is - quite honestly - keeping them alive? Without all the rigging, most governments would long ago have faced real consequences.
I agree, except for the fact that it's the Swiss doing the investigating. At least they still have a sovereign currency. While I don't believe there's much chance anything comes of this, I think there's at least a glimmer...a faint glimmer anyway
Unfortunately, just like with everyone else, the Swiss currency is fiat. They may not be part of the euro, but all the same, their currency depends on nothing more than people's belief in it. They cannot permit people to believe metals carry an inherent value and by extension, an inherent standard by which to measure fiat currencies. That potential is antithetical to the sucess of all paper currencies.
Gold itself, of course has little "inherent" value either. But its limited supply and people's fascination with it have made it for millenia a standard of measurement. Modern governments are hoping that this tendency for people to use it to compare against can be trained out of them with propaganda. An interesting race.
Silver is another case, because it has both a monetary history and industrial uses.
For all their successes over the past few decades, the central authorities still face a very stiff adversary in people's love for metals. Metals are shiny!!! Monkeys love shiny things.
LOL!!! Sure they are. The equivalent of shooting themselves in the fucking head!
I don't think so.
Nobody move or the nigger gets it
https://www.youtube.com/watch?v=Z_JOGmXpe5I
Do not insult the rats in comparing them to UBS please.
So it'll all be over and we'll have true price discovery?
Didn't think so.
There is not going to be any true 'price discovery' until an outside entity forces it by revealing their own hoard. Until then, the charade and unbridled chicanery will continue, unabated.
If anybody is going to bring down this FRAUD, it will be the Asians. When their hoards are deemed big enough, and their military capabilities assure mutual destruction, then they will unleash the financial dragon to eat the West.
So it is written so let it be done,
;-D
Or we could audit the Fed.
GAAP or non GAAP report?
So it is written
So it shall be ...
It's an absolute, not some whoresh pleading - It Shall Be.
so there ...
I still say can steal 10 billion..and only have to pay a 500 million fine...you are doing a good job...
God's work, no less.
Cost of doing business. This is why it'll never end. $500 million fine PLUS returning all profits earned in said manipulation....now THAT would put a dent in it.
Sunlight with stripes in it for CEOs, at a minimum.
Twisted hemp would seem more fitting given the numbers of people that die due to their corrupt practives.
If they justify their salaries/bonuses by saying they are Mr. Fuckingwonderful and better than everyone else, then they have also claimed responsibility for their decisions.
Shouldn't be able to have it both ways, but i guess if you play a game AND make the rules for the game, you'd have to be a real fucking idiot not to win.
Send the Banksters and CEO's all to Nothern California and Oregon ...
they can work the Hemp fields and bring in the fall crop.
All the Congress Critters and Chambers of Commerce 'leaders' are needed also - and they can shelter in place with FEMA tents and military rations.
And, It's For the Children, too.
Libor, FX, gold? Just another brick in the wall. There will be pain only when the complete facade falls. Washington (mainly Congress) is in the selective no hear, no speak and no see economic and market conditions. The FED wants Washington out of its affairs and Washington will gladly let them take full responsibility for what comes.
"The regulators"...
And just who, might I ask, regulates the regulators...? Last I checked, 'regulators' were human too... Now if you'll excuse me, I have some $$$grease to wipe off my palms...
Yawn...
Yep. Therein lay the error in peoples thinking:
"There are sociopaths among us, so we need people in government to regulate the market". LOL. Government is exactly where the sociopaths will gravitate, you morons.
^THIS^
Tyler, you're a little too optimistic on this one. Disclosure will change nothing. The manipulation is sanctioned by the largest central banks of the world, and it's not going to stop because someone spills the beans.
It will stop, one day, but it's going to be due to long-term restrained market forces overwhelming the manipulators, and will probably coincide with the severe revalution (if not outright death) of one or more major fiat currencies.
"It will stop, one day, but it's going to be due to...."
How about some tourches, pitchforks and Guillotines...
The beans were spilled under oath in the Blanchard vs Barrick case many years ago [2003]:
- "Barrick Gold has confessed that it and its bullion banker,
JP Morgan Chase & Co., are the direct agents of the
central banks in the international control of the gold
price.
Barrick's confession was filed in U.S. District Court in
New Orleans as part of a legal maneuver to gain dismissal
of the federal anti-trust lawsuit brought against it and
Morgan Chase by Blanchard & Co., the New Orleans-based
coin and bullion dealer. Barrick moved to dismiss the
Blanchard lawsuit on the grounds that the suit had failed
to include as defendants some "indispensable parties" whose
vital interests are at stake, the central banks; that the
central banks, having what is called sovereign immunity
against suit, simply could not be included in the suit;
and that the suit therefore had to be dismissed.
Barrick's confessional motion was dated February 28 and is headlined
"Memorandum in support of motion to dismiss for failure to join
indispensable parties":"
http://www.gata.org/files/BarrickConfessionMotionToDismiss.pdf
The judge found outrageous the concept that the complicity of the government would override the law. In retrospect: how quaint--she didn't understand the brave new world.
Exactly! PM manipulation lawsuits have made it to top courts several times only to be dismissed "due to national security". Why do people keep trying? We need to go Iceland on their ass.
If I recall correctly, this one was not dismissed but settled in Blanchard's favor after the judge, Helen Berrigan, squatted and peed on that outrageous motion to dismiss.
I enjoyed the read. I especially like the part about how leasing gold is a "typical function" and that, "no other activities of a sovereign are more inherently characteristic of sovereignty than the custody and management of a country's financial reserves"
OK, I will go along with that even though I disagree. Where I get confused is the section above (on page 11) where is says, "Thus courts have consistently treated central banks as "foreign states" under the FSIA" (Foreign Sovereign Immunity Act)
And this, "In fact, Congress expressly included in the FSIA a provision immunizing from attachment and execution 'the property of a foreign central bank' located in the United States"
What foreign central bank is located in the United States? (rhetorical)
A bullshit revelation that it was bullion banks and not central banks all along doing this despite years of research and data collection from GATA.
Why wouldn't UBS just conspire with their peers to see to it that a series of unfortunate nailgun-related accidents befell the regulators? Why come clean now, after so many years?
Someone else was thinking about ratting out UBS. They moved first.
I LOL'd..
"one more manipulation scandal and the bank could well lose its license to operate in NYC"
It has always amazed me that a real brick and mortar building - or a massive steel one or that computers are so smart today that they can actually program themselves all to commit unspeakable fraud on unsuspecting people and other businesses. Astounding that no human interation is ever required - none.
Gold Rigged but silver the thing to buy?
GSR heading to 80 - 1
Trader Dan says "nonsense."
He may be a good trader and nice guy but he and his followers are completely full of shit on most things of importance.
Expecting a completely objective view from somebody that feeds their family with the fruits of trading paper would be a grave mistake.
To be a trader, you have to believe there is a market.
That's one of the most retarded things.....ever.
To be a trader you have to be willing to buy and sell something. Period.
what were the two extra periods for?
It took him a month to have those two periods. Have some respect.
Trader Dan done one too many bong hits in his past. His judgement and his trading skills are lost, just like his short-term memory.
At this particular point in geopolitical/geo-economic jockeying, which do you think is more important:
- Known stash/deliverability/accuracy of a nation's nuclear weapons?
- Known stash of a nation's physical gold?
*Clue: Somebody/s does, and they want to make sure neither is very high on your list of important things to pay attention to...
Remember last year when the US Department of Justice went after a group of Swiss Banks and had to pay fines? Now it looks like the Swiss will stike back at the US by fining US banks by giving UBS leniency if they cooperate!
jj
Nudge me when a Big Wig Business Head or politican goes to jail. Otherwise, leave me alone. These bankers are above the law.
Might be as good a reason as any that silver premiums are up so much in the last few weeks. Either the miners or blank makers are smelling a price reset based on this 'rumor'. Of course, let's see if something actually happens!
Gold pitchforks for everyone.
stawks down... not news here?
Here's how it works:
Stocks go down, gold slides a little. Stocks recover, gold slides a lot.
You'd like people to believe that, but since 2007 gold has outperformed bonds by about 17 percent, stocks by 30 percent.
Depends... If you bought Gold stocks in 2007, you are close to bankrupt now. I would love to know what terms Soros was granted on his recent Barrick investment. There is a sinister game in play here, and the people who own the mines and miners now are not the people who will own them 5 years from now.
BTW, this game is for Club members only. You can try to play, but you will lose by default.
Bullshit. If they're not going to conclude the investigation for several months, nothing will really happen. The banks will grease the government, some fines will be paid and end of story. World governments are also complicit in the manipulation if not worse. Why would they expose a conspiracy that goes all the way to the top including the BIS, FED etc?
Besides, the bankers aren't going to start changing behavior until a bunch of them have their heads on sticks tied to overpasses. The way things are going, that might actually happen in time.
roberto calvi
Don't know how deep you've gone with that one.
He was silenced before he could tell what he knew about the mixing of Mob and Vatican funds that were being used to keep Solidarity in Poland going.
Have to wonder if that's the reason old JP 2 was plugged and his attacker later pardoned at the request of the pope.
He was terminated because he was about to blab, not for anything he'd done.
Oh, sorry, UK police decided it was suicide!! - must have had a guilty conscience!
The pattern here is to pay fines and find another scam and repeat...
Just like the little municipalities financed by the local speed traps, this has become a huge on-going revenue source of the federal government. They overran their taxation and inflation options for finance long ago.
The difference in that is the the town is shaking you down for money.
The difference in that is the the town is shaking you down for money.
What do you think the federal government is shaking down for?
The federal government is shaking the money changers down for money ... 10% of their ill gotten gains ... which leaves the money changers 90%. It's a win-win deal. The money is coming from duped investors. The government is serving up the illusion they're actually doing what they are supposed to do ... i.e. keep the game honest. What a joke!
The real difference is the small towns are stripping drivers. The money is coming directly out of the drivers' pockets.
And the prosecutor drives his deal by saying he wins 94% of his cases. But he's pleading out 90% of the cases (which he claims as wins). Of the remaining 10%, the prosecutor is losing 60%. People are foolish to take the plea. If everyone demanded a jury trial ... and the two years that takes ... and did it pro se (lawyers are on the government's side ... they have to be because the government licenses them) ... that nonsense would stop. The worst that can happen is you're found guilty and pay the fine they're pleading for anyway.
there is no option, of a jury trial, for a traffic citation. in fact in california, you have to post the fine amount, for the privelege of a court date,to plead not guilty.
there is no option, of a jury trial, for a traffic citation.
Based on a sample of one (Montgomery, Montgomery County, Tx) you are wrong. And in this county, 4 of the top 10 municipal speed traps in Texas can be found. In the case of Montgomery, TX the traps fund 73% of the police departments total budget.
Since you seem to be satisfied with your statement, please tell me by what mechanism they remove this constitutionally guaranteed right for a case to be heard by a jury of your peers.
I noticed that the two biggest hoarders and manipulators of commodity prices -Goldman Sachs and JPMorgan Chase- are not mentioned. It is hard to imagine that these two financial juggernauts would not be involved, and much less innocent. Could either or both have been the "whistleblowers"? REgardless, they will be able to profit and to increase their participation in the precious metals markets.
DING,DING,DING,DING> I think we have a winner!
Nothing is going to change until it is all gone from the banking system and everyone gets paid out in bail out cash. There is no law. There are no regulators. We are back to Wild Cat Banking and unbacked paper gold is their currency--Same as it ever was.
It's like watching a ballet. When the beautiful ballerina leaps, there is always the handsome man in tights to catch her.
Choreography is key.
This shit is getting real interesting
http://www.zerohedge.com/article/silver-surges-over-4625oz-rumours-short...
http://www.zerohedge.com/news/2015-06-29/jpm-just-cornered-commodity-der...
It has been interesting.
You dirty rat!!! That's exactly what Banks need,a low life dirty stinkin' rat to keep them on their toes.Government and their greedy politicians in financial trouble can now smell easy money.
Where is JPM?
Ask those banks to pay bullions, not billions of fiat money, as penalities.
Wild Cat Banking is back!--Except worse because there is no Regulation at all. Learn about it so you know happens:
https://en.wikipedia.org/wiki/Wildcat_banking
Hint: They issue a buttloads of fraudulent gold backed currency (gold contracts) before they fold.
How is that Oligarch meme working out now? You know the one that goes, "If you believe in facts and your own lying eyes, you are a tin foil hat conspiracy nut"?
Is this the straw that will break the camel's back causing a global economic crash in the middle of September?
As the govts are the primary beneficiaries of the manipulation, why on earth would anyone think that anything will change? It's bad logic. Same as the authorities investigating Hilary's emails: why get your soon to be boss in any kind of trouble?
Mark my words, people: NOTHING WILL COME OF THIS, except for a few billion $$ in fines, which is what the criminal banks make before 12 noon, any day of the week!