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To: LSUfan
These are undoubtedly the parties most likely to be involved in gold manipulation. Barrick is famed for selling gold ahead massively, and Morgan is famed for its immense holdings of gold derivatives.

Whether the suit can succeed is another matter. I suspect that the Fed is involved as well, and that they may intervene in the same way that they did against the Hunt Brothers' silver holdings. As the old saying goes, you can't fight City Hall.
4 posted on 12/18/2002 9:59:21 AM PST by Cicero
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To: Cicero
The Hunt brothers were private, so they can be prosecuted. These are Federal Reserve Banks involved, can't touch em.
One aspect of this story is the bullion bankers were claiming reserves that they had actually already leased, totally corrupting any figures on market supply to hold down the price.

Saw a spot on Bloomberg this morning claiming an un named source in justice says the criminal prosecution of investment bankers in the loan/debt masking aspect of the market fall will have to be forgone to assure coperation in making sure it doesn't happen again. Looks like it's over, the looters won.
111 posted on 12/19/2002 5:40:21 AM PST by steve50
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