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Will this investigation influence PM prices?

ProfHaroldHillProfHaroldHill Posts: 1,339 ✭✭✭
in Precious Metals
Reuters

Haven't noticed a thread on this topic here, and it appears from this story that the investigation is widening(?) More subpoenas on the way at least.

Will this influence prices in the short term only, due to temporary speculative attention... or fundamentally, due to a possible end to the (alleged) actual manipulations?

I suppose the question is one of, 'Are the allegations true?'.

Opinions anyone?



I remember when!

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    derrybderryb Posts: 36,194 ✭✭✭✭✭
    US Justice investigating US banks? image

    In reality US government is once again strong arming the banks for some hefty fines and then it is back to business as usual. The fines are a built in cost of doing shady bank business these days. The fines purposely never exceed the profit gained from the illegal activity in order to encourage further undertaking of illegal activity that can bring in more fines later.

    They don't jail them because they won't be able to fine them again later. It's a profitable, vicious circle for both parties. It's the new "banking and funding government business model."

    More info on the story


    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    rickoricko Posts: 98,724 ✭✭✭✭✭
    Never thought of it that way derryb...Cheers, RickO
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    dpooledpoole Posts: 5,940 ✭✭✭✭✭


    << <i>US Justice investigating US banks? image

    In reality US government is once again strong arming the banks for some hefty fines and then it is back to business as usual. The fines are a built in cost of doing shady bank business these days. The fines purposely never exceed the profit gained from the illegal activity in order to encourage further undertaking of illegal activity that can bring in more fines later.

    They don't jail them because they won't be able to fine them again later. It's a profitable, vicious circle for both parties. It's the new "banking and funding government business model." >>




    Absolutely right. It's a shake-down and a wink-wink. The people who implemented the crimes are never held personally responsible. Just the stock-holders.

    These people (and their accomplices at the "Justice" Dept.), ought to be put in stocks outside their offices on Wall Street.

    What an outrageous farce!

    Here's a warning parable for coin collectors...



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    derrybderryb Posts: 36,194 ✭✭✭✭✭
    one of the accused, JPM is still on two year's probation for it's part in the Bernie Madoff scandal. Under the resulting deferred prosecution agreement it stands to be prosecuted for new crimes as well as the two felony counts in the Madoff case. Like that would ever happen.

    More on JPMs troubles

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    So, what else is new ? They'll investigate
    and nothing will come out of it !!! :-(
    Timbuk3
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    BLUEJAYWAYBLUEJAYWAY Posts: 8,014 ✭✭✭✭✭


    << <i>US Justice investigating US banks? image

    In reality US government is once again strong arming the banks for some hefty fines and then it is back to business as usual. The fines are a built in cost of doing shady bank business these days. The fines purposely never exceed the profit gained from the illegal activity in order to encourage further undertaking of illegal activity that can bring in more fines later.

    They don't jail them because they won't be able to fine them again later. It's a profitable, vicious circle for both parties. It's the new "banking and funding government business model."

    More info on the story >>

    Yes. Reminds one of the phrase "don't kill the goose that lays the golden egg".
    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,836 ✭✭✭✭✭
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    jmski52jmski52 Posts: 22,370 ✭✭✭✭✭
    The last time anyone investigated a US banking scandal, Reagan was in office. Google Bill Black.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>So, what else is new ? They'll investigate
    and nothing will come out of it !!! :-( >>



    image

    Haven't we seen that same song & dance routine since 2009? Obviously it has not had any noticeable affect on PM prices yet.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    jmski52jmski52 Posts: 22,370 ✭✭✭✭✭
    The last time anyone investigated a US banking scandal, Reagan was in office. Google Bill Black.

    Ooops! I said "investigated", but I really meant "prosecuted".
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    derrybderryb Posts: 36,194 ✭✭✭✭✭


    << <i>The last time anyone investigated a US banking scandal, Reagan was in office. Google Bill Black. >>


    And when you do read some of his stuff on the failure of federal watchdogs since the LTCM crisis.

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    jmski52jmski52 Posts: 22,370 ✭✭✭✭✭
    Or watch him in some of his youtube interviews. This isn't your father's monetary system.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    derrybderryb Posts: 36,194 ✭✭✭✭✭


    << <i>It's a shake-down and a wink-wink. >>


    Better known as a fundraiser.

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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