Commodity Trade Mantra

Posts Tagged ‘LIBOR’

UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal

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, central banks in general and the Fed in particular are among the biggest gold manipulators.

Ten Banks, Including JPM, Goldman, Deutsche & UBS, Probed For Gold Rigging

Who is involved in this latest gold – rigging scandal? Why everyone! … which makes it immediately obvious why the European regulator had to promptly cover up the whole affair. Under scrutiny are Bank of Nova Scotia, Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, SoGén, Standard Bank & UBS.

Banks Sued on Claims of Fixing Price of Gold

The lack of prohibition against trading during the calls allows defendants to gain an unfair trading advantage because pricing information exchanged during the calls provides them with insight into the immediate future direction of gold and gold derivative prices.

Gold Forward Offered Rate (GOFO) Turned Negative AGAIN: The Consequences

Historically, GOFO rates (Gold Forward Offered Rate) have only been negative twice since 1999, but have frequently moved into negative territory over the past year. We believe this is a result of on going large shift of gold from the west to the east. GOFO is back negative again, 7th time since July 8, 2013.

UBS Investigated For Gold Manipulation- Gold Inquiry Goes Beyond London Fix

A number of authorities are reportedly investigating manipulation of precious metal prices. UBS will take appropriate action with respect to certain personnel as a result of its ongoing review. The last time the CFTC did an “in depth” investigation of manipulation in precious metals, it found – nothing.

The Gold Price Manipulation, London Gold Fix and the Quantum

If I were to criticize the Gold Fix I would certainly concede that its rather stupidly named. The Gold Fix is a real trading price & not a survey, like LIBOR & it is not a chart of quotes, like the Bloomberg spot gold ticker. Its a price at which a large number of buyers & sellers chose to deal & this makes it real.

Gold Equities, Manipulators and Significant Earning Potential

According to Eric Sprott, gold stocks are reacting very positively to what seems to be a shift in people’s willingness to commit to the precious metals area. Momentum seemed to pick up a little bit in Jan and in Feb some of that has carried on. Investor sentiment surely seems to have shifted a little.

A World Full Of Manipulated Markets - Distorted Signals And Lost Trust

What happens when market signals are distorted by the government? – Malinvestment. The market stops directing capital to its most productive uses & wealth creation grinds to a halt. People notice that the markets they trusted, are being manipulated for the benefit of others & trust begins to erode.

Scandal: Bank Of England Encouraged Currency Manipulation By Banks

This report confirms that yet another conspiracy theory is fact, as at least one central bank has been exposed to not only have known about a criminal activity that is now costing the jobs of hundreds of traders (and should lead to jail time), but to have urged it on.

Banks Disparage Gold Ownership and Engage in Largest Financial Crime Spree

As we enter 2014 and amid a list of bearish reports on gold, issued by most of the major Western banks, the flow of gold from the West to the East continues while Western banks are found guilty of a multitude of criminal activities including market rigging, insider trading, just to mention a few.

Readjusting the Time-Preference of Gold

Sooner or later a more realistic time-preference for gold is bound to return as leasing by central banks dries up. This explains why GOFO tried to go negative on several occasions in 2013. All that’s happening is time-preference is beginning to be rightfully re-instated.

The Complete And Unabridged History Of Gold Manipulation

The London Gold Pool that was designed to keep the price of gold capped, proved that central banks can collude cooperate to rig maintain the price of gold at what they deem manageable levels – But things don’t always go as planned and Gold is a different beast altogether.

How Gold Price Is Manipulated During The "London Fix"

We are delighted that none other than Bloomberg has decided to break it down for everyone, as well as summarize all the ways in which just this one facet of gold trading is being manipulated – Anyways, nothing wrong with a little gold manipulation here and there.

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