Metals, Currency Rigging Is Worse Than Libor, Bafin Says

http://www.bloomberg.com/news/2014-01-16/metals-currency-rigging-worse-than-libor-bafin-s-koenig-says.html

Barclays Manipulated Gold as Soon as It Stopped Manipulating Libor

Readers should be aware of a few subtexts here.  Yes, the manipulation of gold prices is now out in the open (and no, gold bugs are not conspiracy theorists), as is the manipulation of LIBOR (and all markets, including the US Treasury bond market in the form of overt QE).  Us skeptics were right all along.

The more nuanced take-away message of Barclays manipulating gold and interest-rate markets is that they are not the only bank manipulating markets.  Not even close.  In fact, they may be one of the smaller players.

BNP Paribas is certainly not the only bank dealing with terrorist organizations or money launderers.  Not even close.  HSBC was notably fined for laundering money for organized crime and drug cartels.

What is the common thread amongst these banks exposed in criminal activities?  They are all non-US banks.  What are the chances of 100% compliance from every US bank regarding market manipulations?  Zero.  In other words, these foreign crooked bankers keep company with US banks.  The global financial system--is global in nature, after all.

This is nothing more than scapegoating of foreign banks, while protecting domestic banks in their financial crimes-in-progress.  It is a nuanced form of trade and currency wars all wrapped up in fines paid from the perps to the regulators in order to maintain a seat in the arena of financial boondoggles.

The banks (and bullion banks) act as proxies for sovereign governments in any case, so it's not in the governments' best interests to have these banks fail.  Governments need to manipulate markets in order to mask the structural problems in our global financial system.  So while they will scapegoat a few banks to maintain a semblance of enforcement, they need to take care of their complicit bankers.

Regulators aren't shaking down banks--they are partners in crime.  What money authorities are doing is stealing from the masses by diluting fiat currencies and masking the debasement with market interventions.

http://www.bloombergview.com/articles/2014-05-23/barclays-manipulated-gold-as-soon-as-it-stopped-manipulating-libor

Stunning Libor Fraud Admissions: "As For Kick Backs We Can Discuss That At Lunch" And Much More

http://www.zerohedge.com/news/2013-09-25/kick-backs-we-can-discuss-lunch-libor-manipulation-full-frontal

Turk - The LBMA Is Moving To Cover Up Silver Manipulation

Readers need to differentiate between a contango and backwardation in silver futures prices to better understand this article by James Turk.  It applies to the gold market and crude oil occasionally as well.  Use the search function in this blog--I've entered a few entries on this topic.  To help you, here's the link.  http://gregnguyen.blogspot.com/search?q=backwardation

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/11/27_Turk_-_The_LBMA_Is_Moving_To_Cover_Up_Silver_Manipulation.html

LIBOR-gate vs. Gold-gate

The LIBOR scandal rocked the financial world--as it should--as the rigging of interest rates in London was exposed.  Multiple lawsuits have ensued, since the manipulation of credit affects everyone, from institutional clients forced to pay higher prices for less yield, to homeowners forced to borrow at higher rates (because of more regulations and banks paying fines), to citizens forced to pay higher food costs due to artificially low interest rates and debased national currencies.  In other words, exposure of LIBOR-gate was a big deal, but the average person remained apathetic.  Instead, the complacent masses are more interested in the electoral theater, too myopic to anticipate the imminent destruction of their purchasing power (and standard of living).

But the recent unfolding fractional gold accounting scandal will ultimately lead to different reactions by the masses.  The symptoms of fraudulent gold accounting aren't as esoteric as a few bankers behaving badly.  After all, the fixed-income market is for professionals, right?  And by now, most people understand bankers are mere crooks in suits.  This was news 5 years ago, but now, it's the status quo.

However, the re-hypothecation--and the disappearance of central bank gold will have entirely different outcomes.  The smart money (the "conspiracy theorists") have already bought in.  As more evidence seeps out that the emperors (central bankers from the US and Europe) have no gold, the Big Money hedge funds and emerging market central bankers from the East will catch on and pour into physical gold.  Actually, the Russian and Chinese central banks have already done this, dis-hoarding US Treasuries and hoarding gold.  The gig is up, and the USDollar Ponzi scheme is about to meet its end game.

This in turn, will catalyze a soaring price of gold which will catch the attention of even the most disinterested public, much like soaring gas prices are on the minds of every driver.  It will make news headlines on Main Street.  And that will only fuel the fires of a gold mania.  But not at $2,000 an ounce.  Try $3,000.

Champions of Dishonesty

http://dailyreckoning.com/champions-of-dishonesty/

“The Fed is manipulating so many markets at once that it has become tougher to identify a genuine free-market price in the financial markets than to identify a genuine female in a Bangkok bar… I don’t want to play in markets like this.”

LIBOR Scandal: "I Hope We See Handcuffs," Says Neil Barofsky

Ron Paul: "Isn't the Fed manipulating interest rates?"

http://www.c-spanvideo.org/clip/3549622

Why the idea of the Bank of England tampering with LIBOR isn’t as crazy as you think

http://www2.macleans.ca/2012/07/23/why-the-idea-of-the-bank-of-england-tampering-with-libor-isnt-as-crazy-as-you-think/

The Libor Scandal In Full Perspective

Roberts hits it out of the park with this perspective on the LIBOR scandal.  Oh, and by the way, he's not some extreme blogger.  Look at his achievements in academia and public service.

http://www.paulcraigroberts.org/2012/07/19/the-libor-scandal-in-full-perspective/

After Libor, where will the next scandal be?

http://www.independent.co.uk/news/business/analysis-and-features/special-report-after-libor-where-will-the-next-scandal-be-7946899.html

The price of gold has been manipulated. This is more scandalous than Libor

http://blogs.telegraph.co.uk/finance/thomaspascoe/100018574/the-price-of-gold-has-been-manipulated-this-is-more-scandalous-than-libor/

Gold is manipulated just as LIBOR was and for same reason, Naylor-Leyland tells CNBC

http://www.gata.org/node/11554
Cheviot Asset Management Investment Director Ned Naylor-Leyland seemed to make his fellow panelists on CNBC Europe very uncomfortable today as he asserted that the gold and silver markets have been manipulated just as the LIBOR interest rate was manipulated, and for the same reason -- to disguise trouble in the world financial system. 

Shhh... Don't Tell Anyone; Central Banks Manipulate Rates

http://www.zerohedge.com/news/shhh-dont-tell-anyone-central-banks-manipulate-rates

Things That Make You Go Hmmm - Such As The Transition From Conspiracy Theory To Conspiracy Fact

http://www.zerohedge.com/news/things-make-you-go-hmmm-such-transition-conspiracy-theory-conspiracy-fact

LIBOR fixing implicates government as well

http://www.goldmoney.com/gold-research/alasdair-macleod/libor-fixing-implicates-government-as-well.html?gmrefcode=gata

Rigged Rates, Rigged Markets

http://www.nytimes.com/2012/07/03/opinion/rigged-rates-rigged-markets.html?_r=1

The Fed and LIBOR – The Biggest Manipulator of them All

http://www.tfmarketadvisors.com/2012/07/04/the-fed-and-libor-the-biggest-manipulator-of-them-all/

Barclays’ Libor Scandal: Prison Will Remedy

LIBOR rates were manipulate by bankers on both sides of the pond.

http://www.senseoncents.com/2012/07/barclays-libor-scandal-prison-will-remedy/#ixzz1zZCKmEC0

The Bank Of England Made Me Do It

http://www.zerohedge.com/news/bank-england-made-me-do-it