All the while the price of Gold and Silver plummeted in 2013. Doesn't that smell fishy to you? It sure does to me! And it's not Tilapia, or Grouper, Snapper, or Yellow Tail, or even Redfish or Flounder that smells. That fishy smell is call manipulation. "
The federal regulator of credit unions is suing 13 banks for the alleged manipulation of an international standard used to set rates on mortgages, car loans, student loans and credit cards.
Financial Times of London: The FX is in:
Are foreign-exchange benchmarks the latest to be manipulated by bankers?
She may have been robbed
Switzerland’s financial watchdog announced on October 4th that it was investigating a slew of banks it thinks have manipulated currencies. Britain and the European Union also have probes under way. None has detailed its suspicions, but concerns reportedly centre around abnormal movements ahead of a widely-used daily snapshot of exchange rates, known as the 4pm “London fix”. It represents the average of prices agreed during 60 seconds’ trading, and is used as a reference rate to execute a much larger set of currency deals. Bankers, who are big participants in the market, have huge incentives to nudge the price of a given currency pairing ahead of the fix. With billions of dollars changing hands, a difference of a fraction of a cent can add a tidy sum to the bonus pool.
The Examiner: Fed admits that stock market gains are tied to central bank manipulation
James Rickards: No markets anymore but a lot of manipulation of gold
Manipulations Rule The Markets — Paul Craig Roberts
The Guardian: Gas price fixing investigation sparked by bank trades
Citigroup says its traders made two of the deals which prompted investigations by Financial Services Authority and Ofgem
Bloomberg: JPMorgan Sued With Goldman in Aluminum Antitrust Case
Bloomberg: Big Banks Busted Manipulating Aluminum and Copper Prices
Richard Russel: what to do?
Richard Russell: “What to do? I've never had such an overwhelming feeling that the cards are stacked against us, the retail or ‘non-professional’ investors. The bond market is held up by the Fed. The stock market is levitated by the Fed's QE. The gold market is rigged by big banks and an assortment of manipulators. The art and jewelry markets are owned by the world's billionaires. Farm land is owned by the wealthy. So again, what do we do? Or what should we do?
One
thing we can do is side with the Federal Reserve and get in the stock
market with a position in the Diamonds (DIAs). Or we can buy and hold
physical gold, and hide it in a very secret place. We can stay away
from bonds and anything else that is extremely sensitive to interest
rates. Or last and surely the easiest on our nerves, we can sit on the
sidelines with Federal Reserve notes (dollars) and some gold and await
developments. Incidentally, I understand that you can buy some heavy
gold chains (you can call it jewelry), and this is one interesting and
safe way of owning gold.
Lately,
I have heard of several advisors who have given up and quit the
business because they no longer trust the manipulated financial and
market data. Not surprisingly, stock market studies they have depended
on for years no longer work in these manipulated markets.
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