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Banks sued over gold price manipulation

  • New York resident Kevin Maher files suit against the five banks who set the London gold fix each day, accusing them off price manipulation. The five: Deutsche (DB), Barclays (BCS), Scotiabank (BNS), HSBC, and SocGen (SCGLY).
  • The setting of the benchmark occurs twice a day in a teleconference through something resembling open-outcry. There are, of course, a number of investigations ongoing about illegal manipulation, and an academic study has found what it deems to be good evidence of collusion in the afternoon fix.
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Comments (4)
  • DeepValueLover
    , contributor
    Comments (9779) | Send Message
     
    I remember when people made fun of "gold bugs" and their "crazy conspiracy theories" about gold price manipulation.

     

    Oh well, its nice to be vindicated!
    5 Mar 2014, 10:41 AM Reply Like
  • Jake2992
    , contributor
    Comments (831) | Send Message
     
    Anyone can sue anyone over anything...Save the chest thumping for actual evidence.
    5 Mar 2014, 10:58 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (9779) | Send Message
     
    Yeah...I know...it's just a "conspiracy theory".

     

    Lol!
    5 Mar 2014, 05:07 PM Reply Like
  • Bschlick
    , contributor
    Comments (2) | Send Message
     
    Yea, and Oswald killed Kennedy... Right?
    12 Mar 2014, 05:20 PM Reply Like
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