Tuesday, 24 February 2015

At Least Ten Banks Face U.S. Manipulation Probe Over Gold and Silver Pricing.

 


  We have the breaking news for the all Gold community. Another conspiracy theory is getting under the spotlight on its way to the courtrooms. But can we actually believe that it will be different this time? Manipulation is part of the system and Central Banks are doing it all the time, will public even take notice? Gold manipulation affects all investors as the scale  of FIAT currency debasement is hidden from the public. Needless to say, that when all Central banks are involved in Currency Wars Gold should act as the real store of value in the normal market circumstances. Companies like us are affected as well, when the suppressed gold price reduce the valuations of the projects and prevents us from normal access to the capital. FED is walking the very fine line now with the economy and if the rate hike will not match the investors' expectations US Dollar parabolic move will end with the sharp correction.  This investigation should bring the new dynamic to the Gold market now.


Bloomberg:


(Bloomberg) -- The U.S. Justice Department is investigating whether the world’s biggest banks manipulated prices of precious metals such as silver and gold, according to people with knowledge of the matter. 
At least 10 banks, including Barclays Plc, JPMorgan Chase & Co., and Deutsche Bank AG are being probed by the Justice Department’s antitrust division, said one the people, who asked not to be named because the matter is confidential. 
The metals investigation, which is in the early stages, broadens the Justice Department’s ongoing scrutiny of banks over manipulation of financial benchmarks. Prosecutors are conducting criminal investigations into the alleged rigging of interbank lending rates and currency markets. Bloomberg."

Who Is Manipulating The Gold Market And Why?


  "Gold is under pressure today and sliding from $1,300 level reached last week towards $1,250. Good day to check on Gold fundamentals with Chris Martenson and Gold manipulation with Chris Powell from GATA. The key to the Bull market is price action with higher lows and higher highs ... Gold is making it so far from last December. How long the manipulation by Central Banks can take its place and distort all markets and Gold primarily? China can be the answer and Jim Rickards even goes as far as suggesting that China is benefiting from this arranged manipulation accumulating all available Gold now. I do not know whether China participate in this manipulation with FED and other Central Banks, but it is definitely buying all the dips so far! Read more."