Gold & silver buyers - your Big Brothers are pulling the strings.
RogerB
Posts: 8,852 ✭✭✭✭✭
This is not the first time these banks have manipulated precious metal markets.
"Deutsche Bank, UBS and HSBC will collectively pay nearly $47 million to settle civil regulatory charges that some of their traders engaged in spoofing in precious metals."
https://cnbc.com/2018/01/29/ubs-deutsche-bank-and-hsbc-to-pay-millions-in-spoofing-settlement.html
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Can anyone tell me a financial market that is not manipulated?
$47 million fine is probably nothing compared to what was / still is being made from the manipulation. Slap on the hand.
The whole worlds off its rocker, buy Gold™.
If I recall, Thomas Jefferson hated banks and bankers.... he understood so much even then.... Cheers, RickO
Ricko, wow ..unaware you are THAT old!
Loves me some shiny!
@carew4me.... yep... looks are deceiving..... been around since Moby Dick was a tadpole...
Cheers, RickO
They should quit mining the stuff. We really don't need any more of it. Close the mines and remediate the ground. The best thing would be that eventually all of the junk and other undesirable gold would be sent to the refiners and only the better gold coins and other items would exist.
So many seem to enjoy being manipulated this way. Strange....
Tell me Rog, where do you keep money that you don’t think for a second is being manipulated? To answer your question, since my assumption is that ALL paper is subject to 100% manipulation, I’m okay with owning assets of which I am 100% certain of their existence and whereabouts. My primary assets have zero counterparty risk. When even the risk instruments can be manipulated in the derivatives markets, it only seems prudent that one should “step aside” and I have stepped as far aside from that pile of cow dung as I can possibly step. Caveat Emptor, my friend.
*your
I knew it would happen.
When the “price” gets manipulated down, I think about buying more physical. Buy low, sell high - remember? Just because the “price” is manipulated, it doesn’t mean that the actual stuff isn’t real. Voila la’ difference!
I knew it would happen.
Jmski....does it make a differece if you step to the side of the cow dung by 6 inches or 6 feet?
Knowledge is the enemy of fear
It depends on how big you expect the pile of cow dung to get. It appears to be getting bigger by the day.
I knew it would happen.
Netflix has a show called dirty money. I think its roughly 5 or 6 episodes. One of them has HSBC in it that did other not so kosher business. One episode even has a focus on our present president. Interesting things go on in the financial world.
"A dog breaks your heart only one time and that is when they pass on". Unknown
If it’s not under control, it gets out of control. We just keep on mining it and assaying it, despite the level and depth we go down to get it .
Hang on for the ride.