Tuesday, February 24, 2015

DOJ Investigating Bank Gold Manipulation

The U.S. Justice Department is investigating whether the world’s biggest banks manipulated prices of precious metals such as silver and gold, according to people with knowledge of the matter, reports Bloomberg.

At least 10 banks, including Barclays Plc, JPMorgan Chase & Co., and Deutsche Bank AG are being probed by the Justice Department’s antitrust division, said one of the people.

The investigation is in its early stages, says Bloom.

There isn't a commodity in the world where someone hasn't attempted to manipulate the price. That said, you can't manipulate major markets on a long term basis. If I see some odd trading in a market, where a stock or commodity is trading lower for no clear reason, I thank the bankster manipulators for the discount price and buy aggressively.

For the most part, gold, silver, etc. prices are exactly where they should be, though news of this investigation will no doubt cause gold draped drama queens to scream "manipulation," after every gold price downtick (But never after any uptick)..

Ignore them all, the drama queens and the DOJ. Gold and silver are going much higher and there isn't a damn thing Jamie Dimon or Janet Yellen can do about it.



  1. "Gold and silver are going much higher and there isn't a damn thing Jamie Dimon or Janet Yellen can do about it."

    Gold and silver are going much higher to reflect what? Why isn't gold higher, now?

    There's something about what's going on, today, that leads you to believe gold will be in greater demand, tomorrow?

    Could that something be false prices, as in manipulated prices?:

    The Danger of Paper Gold

    "With most stocks, the buyer owns a portion of the company, rather than a specific number of the products that the company deals in. When investing in a fund, the fund generally owns a portion of the companies it has invested in. With buying gold through ETF's, however, the buyer is under the impression that he has bought the actual product, when he has not. In many cases, the fund does not have possession of the gold. Therefore, the buyer has bought the "promise" of future ownership. ..."

    "... If, for example, each bank were to hold only 10% of the gold it has sold (10% is a commonly accepted banking standard, although many banks hold nowhere near that amount), they make a handsome profit by selling gold without ever actually purchasing it. Since this is standard practice amongst the banks and other financial institutions, funds, etc., it is entirely possible that the total amount of gold that has been sold worldwide greatly exceeds the amount of gold that exists in the world."

  2. It's almost a guarantee that no fault will be found here.

  3. The Gold market is relatively small and easy to control by "the powers that be" with their vast resources.That is as long as they can keep their promise to prevent stocks and bonds from falling-the Yellen PUT. People need to realize that the governments around the world will NEVER let the gold bugs win. If the dollar collapses they will literally kill any "evil traitor" found to possess gold. Gold only works in a complete and total collapse of government (anarchy)-- an unlikely event.

  4. Robert. You say markets can't be manipulated for the long run. The bond market is overtly being manipulated and it has continued for a long time. I agree that eventually, the market wins out but it may be in 1 year or 20 years