Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement

derryb

cartel members are turning on each other

roadrunner

So much for that "myth" that "paper" silver and gold prices aren't heavily manipulated. What about payouts to all the investors that DB, HSBC, and SB took advantage of over the years? Whatever the final fine or penalty is, it will probably be no more than 0-5% of what they actually made with the scheme.

derryb

ricko

The belief in manipulation of the markets, while usually derided, happens... and happens more

frequently than even believers realize. Cheers, RickO

CaptHenway

Some people believe that metals markets are manipulated for political purposes, and they may or may not be right.



However, we must not forget the possibility that different people are manipulating the metals markets out of simple, old-fashioned greed.

derryb

Originally posted by: CaptHenway
Some people believe that metals markets are manipulated for political purposes, and they may or may not be right.

However, we must not forget the possibility that different people are manipulating the metals markets out of simple, old-fashioned greed.

Dollar hedgemony no doubt plays an important role in the US's efforts to dominate the world stage. Wars have been fought and foreign leaders have been overthrown to protect its status. As the premier world currency its strength is aided by world wide demand (to conduct international trade) for it. Common sense dictates that any threats to it will be dealt with. Gold is a threat to the dominance of the dollar. Anyone that understands the inverse relationship between gold and the dollar index can easily see the need for dollar protectors to keep the gold price under management.

The major gold players are used to enforce this political mandate. Their reward is allowing them to reap massive profits from the up and down movements that they create while keeping the gold price "managed." They know, beforehand, when it will go up and when it will go down - they are the ones making it do so. In any other market, and without Washington's approval, such activity would be met with relentless prosecution and heavy penalty.

derryb

Well, that didn't take long

OPA

The major gold players are used to enforce this political mandate. Their reward is allowing them to reap massive profits from the up and down movements that they create while keeping the gold price "managed." They know, beforehand, when it will go up and when it will go down - they are the ones making it do so. In any other market, and without Washington's approval, such activity would be met with relentless prosecution and heavy penalty.

Judging by today's slide in PM prices, they must also be manipulating the dollar, & crude oil...."Himmel, Arsch und Donnerwetter."

derryb

Originally posted by: OPA

The major gold players are used to enforce this political mandate. Their reward is allowing them to reap massive profits from the up and down movements that they create while keeping the gold price "managed." They know, beforehand, when it will go up and when it will go down - they are the ones making it do so. In any other market, and without Washington's approval, such activity would be met with relentless prosecution and heavy penalty.

Judging by today's slide in PM prices, they must also be manipulating the dollar, & crude oil...."Himmel, Arsch und Donnerwetter."

If it looks like a duck. . .

hchcoin

Does anyone get the feeling that the precious metals market is about to implode?

Baley

Golly, I hope you guys would be right and the PMs would go up and then we would be able to sell them for a lot of money

roadrunner

...Judging by today's slide in PM prices, they must also be manipulating the dollar, & crude oil...."Himmel, Arsch und Donnerwetter."

Gold is 18 weeks into into a typical 20-26 week intermediate cycle. It's been overdue to start heading down again. And the dollar after getting smooshed from 101 to 93 needed some relief for a few weeks. The PTB don't want the dollar to go down too fast so some rebounds along the way are what the doctor ordered.



No doubt crude oil is being manipulated too. Very heavily so in fact. How else does it drop from $115 to $26 in only 4+ years? JPM's $4 TRILL commodity derivative's position in early 2015 was a nice boost to take commodities down to 4-9 year lows in 2015. That was a 17X increase in only 1 quarter where they basically cornered 93% of the US commodity derivative's market. I'd say that was manipulation....and not any form of producer type hedging. The only thing we can't find out is what particular commodities they bet $4 TRILL on. And it wasn't currency, gold, or precious metals since those are separate categories.



And let's not forget these same guys already plead guilty to silver price fixing....something our venerable CFTC couldn't do after investigating JPM and others over a 5 yr period. What a joke.



From the bottom of the linked article:



"Finally, we'll just remind readers that the US commodity "regulator", the CFTC in 2013 closed its five year investigation concerning allegations that the biggest bullion banks manipulate silver markets and prices. It proudly reported in September 2013 that it found no evidence of wrongdoing and dropped the probe. This is what it said:



The Commodity Futures Trading Commission (CFTC or Commission) Division of Enforcement has closed the investigation that was publicly confirmed in September 2008 concerning silver markets. The Division of Enforcement is not recommending charges to the Commission in that investigation. For law enforcement and confidentiality reasons, the CFTC only rarely comments publicly on whether it has opened or closed any particular investigation. Nonetheless, given that this particular investigation was confirmed in September 2008, the CFTC deemed it appropriate to inform the public that the investigation is no longer ongoing. Based upon the law and evidence as they exist at this time, there is not a viable basis to bring an enforcement action with respect to any firm or its employees related to our investigation of silver markets.



In light of this confirmation that the CFTC's probe was "lacking" perhaps it is time for the so-called regulators who at the time was headed by ex-Goldmanite Gary Gensler (and assisted by "revolving door" expert and HFT lobby sellout Bart Chilton) to reopen its investigation?"



PMs to implode? A correction into May-June is probably coming. But who knows. Rather than an implosion, I think we'll be looking at gold prices of $1450-$1550 in the next 1-3 years. Time to regress to the mean after the 2011-2015 descent.

cohodk

It's fun watching people speculate on stuff they know nothing about.

derryb

Originally posted by: cohodk
It's fun watching people speculate on stuff they know nothing about.

It's even more fun watching people speculate on other people they know nothing about.

cohodk

Originally posted by: derryb

Originally posted by: cohodk
It's fun watching people speculate on stuff they know nothing about.

It's even more fun watching people speculate on other people they know nothing about.

Cool...I'll have to try that sometime.

roadrunner

I've only spent over a thousand hours reading and investigating otc derivatives since 2002. But, what that does that count for when you other "experts" around here that have never once opened an official report and read it. It's unfortunate that criminal fraud in the metals' trading markets is now out in the open and proven. Hey, it only took them a decade to "figure" it out....lol. Sadly, some will still cling to their "world is flat" mentality....even when the data is staring them in the face. It's just easier for them to ignore it and try to shout the other side down.



It took the "regulators" over 20 years to "find out" about Madoff. No doubt they left no stone or lead unturned in their search.

cohodk

I'm still eating for some specifiC's detailing this manipulation. Perhaps our vastly more learned forum member could enlighten us?

derryb

Originally posted by: cohodk
I'm still eating for some specifiC's detailing this manipulation. Perhaps our vastly more learned forum member could enlighten us?

Deutsche Bank has admitted to manipulating the price of both silver and gold. Give them a call, I'm sure they'll tell you how the did it.