The Phaserl


Another “Conspiracy Theory” Bites The Dust: UBS Settles Over GOLD RIGGING, Many More Banks To Follow

from ZeroHedge:

And then there was the precious metals market: a market which all the Keynesian fanatic paper bugs said was immune from manipulation, be it of the central or commercial bank kind, even with every other market clearly exposed for perpetual rigging either by hedge funds, by prop desks, by HFTs, or central banks themselves. Sadly this too conspiracy theory just was crushed into the reality of conspiracy fact, when moments ago the FT reported that alongside admissions of rigging every other market, UBS – always the proverbial first rat in the coalmine, to mix and match metaphors- is about to “settle” allegations of gold and silver rigging. In other words: it admits it had rigged the gold and silver markets, without of course “admitting or denying” it did so.

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4 comments to Another “Conspiracy Theory” Bites The Dust: UBS Settles Over GOLD RIGGING, Many More Banks To Follow

  • Steve_D

    Will anything change, will anyone go to jail, will we see a fair market value, will this story just get shoved down the memory hole?

    • Kris

      It will only get worse, the innocent will go to jail as they usually do, and the market will be buried 6 feet under just like the rest of our society. What does it say about the world when a 5 year old is being kicked out of his school for the high crime of being related to his uncle, who just happened to go through a divorce in 2012?

  • Gnostic

    Blacklisted News Radio is hosted by Doug Owen.

    ‘In this episode Doug touches on some of the latest headlines from Blacklisted News. We cover the JP Morgan and HSBC banking scandals revealed this week, and other thoughts and observations from the bunker!

  • nycjeff

    So this seems analogous to the LIBOR rigging. Slap a fine on some of the banks, allowing regulators to say that its been dealt with, and then continue on as normal. No charges, no changes, until the whole system breaks.

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