Posted on 09/28/2015 5:06:30 PM PDT by SkyPilot
With countless settlements documenting the rigging of every single asset class, it was only a matter of time before the regulators - some 10 years behind the curve as usual - finally cracked down on gold manipulation as well, even though as we have shown in the past, central banks in general and the Fed in particular are among the biggest gold manipulators.
That said, we are confident by now nobody will be surprised that there was manipulation going on in the gold casino. In fact, ever since Germany's Bafin launched a probe into Deutsche Bank for gold and silver manipulation, it has been very clear that the only question is how many banks will end up paying billions to settle the rigging of the gold market (with nobody going to prison as usual, of course).
Earlier today, we learned that the Swiss competition watchdog just became the latest to enjoin the ongoing gold manipulation probe when as Reuters reported, it launched an investigation into possible collusion in the precious metals market by several major banks, it said on Monday, the latest in a string of probes into gold, silver, platinum and palladium pricing.
Here are the details that should come as a surprise to nobody:
Global precious metals trading has been under regulatory scrutiny since December 2013, when German banking regulator Bafin demanded documents from Deutsche Bank under an inquiry into suspected manipulation of gold and silver benchmarks by banks. Even though the market has moved to reform the process of deciding on its price benchmarks, accusations of manipulation have refused to go away.
Switzerland's WEKO said its investigation, the result of a preliminary probe, was looking at whether UBS, Julius Baer, Deutsche Bank, HSBC, Barclays, Morgan Stanley and Mitsui conspired to set bid/ask spreads.
(Excerpt) Read more at zerohedge.com ...
Perhaps, but let's not ignore personal responsibility. No one makes anyone invest in the precious metals "casino." If a person is going to risk tens of thousands of dollars in the gold and silver markets because of the ads on the Glenn Beck Show,for example, but is unwilling to spend three hours researching the pros, cons, and hoaxes that go with the territory, then he or she is too stupid to invest in anything more than a passbook savings account.
Yes you did, you contradicted yourself. That is right on the thread, but you still won't admit it.
Should I be angry now that it rose 1800 points, or not?
You should read Proverbs 29:11 for your real answer.
Your many displays here shows how angry (and I truly believe how fearful) you really are, but you think you are not demonstrating that very fact sir.
It amazes me.
If you want to display your anger, you can. I believe you are one of the most passive aggressive (and overtly aggressive) angry people on Free Republic, and I have been here while.
You also refuse to answer what you trust in. Again, and again, and again, you refuse. Your responses are mocking, flippant, and shallow.
Given all of this, I can draw a logical conjecture of your character.
If you were a follower of Christ, you would have said you trusted in Him. But you didn't, and don't.
You trust in money.
You trust that money is all you are, and defines whether you are "successful."
"Successful." By the largest ZIRP and QE charade of madness in financial history.
I think you listened to (and believed) Rush and Hannity when they justified themselves that riches were the end all and be all - and they were really benevolent for being so. There are no "Free Markets" anymore. The only reason in this Depression for the gains is manipulation, lies, debt, and the love of money. (See 1 Timothy 6:10 and Jeremiah 17:5).
I stand by my posts that great judgment is coming on America and the world, including financial judgment.
But more than that, the world is descending into immoral and Satanic madness. Does this concern you?
Lee Iacocca had a spiritual awaking several years ago. He wrote that fame, power, and especially money were "for the birds" and said that he realized that his children and grandchildren had more value.
I have met many important military men and athletes who realized their entire lives were built on a foundation of sand. Some of them put their trust in God. And they will live again.
Why didn't you post that your trust was in God when I asked you repeatedly what you put your trust in?
Because your trust in yourself, and money.
May you reap what you sow. (Galatians 6:7 )
No, I didn't.
That is right on the thread, but you still won't admit it.
Oh, so you could prove it. But you won't.
Your many displays here shows how angry (and I truly believe how fearful) you really are,
You said I'd be angry when things got worse. Did they get worse? Did I get angry?
I believe you are one of the most passive aggressive (and overtly aggressive) angry people on Free Republic, and I have been here while.
You're projecting. Because I mock your silly claims.
You also refuse to answer what you trust in.
This is a thread about gold and markets. If I wanted to discuss "what I trust in", I'd find a thread about that.
Your responses are mocking, flippant, and shallow.
That's my response to global warmers, gold bugs and other doomer types.
You trust in money.
What does that even mean?
I think you listened to (and believed) Rush and Hannity
Hannity is annoying, haven't listened to him in years. I'll sometimes catch Rush in the car.
May you reap what you sow (Galatians 6:7). You can make it either a curse, or a blessing. God is gentleman, He does not force you. But you will live with your choices. Of all that I posted to you, none of your responses even mentioned Him. You need Jesus Christ. I was a mess, and He saved me. Put down the arrogance. Admit that you need God, you need Jesus.
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