SHOCKER! Gold and silver might have actually been manipulated!
Now that you’ve picked yourself up off the floor with that revelation (or not), I found the following interesting bit, under the headline: Deutsche Bank PM Settlement Might Only Be The Start – Expert Witness
“As I discussed in your program [Kitco News] before with respect to gold, and the same applies to silver, the structure of these fixings and the empirical evidence were very telling in supporting collusion and manipulation. If we in fact learn that actually was the case, I would be the least surprised person out there,” she said in her email.
Deutsche Bank shocked markets Thursday after its lawyers filed the settlement letters in the Manhattan federal courts. Deutsche Bank submitted its settlement for the gold case Thursday and the silver case Wednesday.
According to Reuters, the terms of the settlement were not disclosed; however it will include monetary payments. The German bank also agreed to help the plaintiffs pursue the claims against the other defendants.
Deutsche Bank is just one of the accused in the lawsuit. Also accused of conspiring to collude and manipulate prices in the precious metals market are: Bank of Nova Scotia, Barclays Plc, HSBC Holdings Plc and Societe Generale.
My, my, my. Banks actually beginning to admit they’ve been manipulating the gold and silver markets. I also found it interesting that JPMorgue seems conspicuously absent from the list of the usual suspects. But hey – ya gotta start somewhere.