Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks In a curious twist, the settlement letter reveals a stunning development, namely that the former members of the manipulation cartel have turned on each other. To wit: "In addition to valuable monetary consideration, Deutsche Bank has also agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement. In Plaintiff's estimation, the cooperation to be provided by Deutsche Bank will substantially assist Plaintiffs in the prosecution of their claims against the non-settling defendants." Finally, we'll just remind readers that the US commodity "regulator", the CFTC in 2013 closed its five year investigation concerning allegations that the biggest bullion banks manipulate silver markets and prices. It proudly reported in September 2013 that it found no evidence of wrongdoing and dropped the probe. http://www.zerohedge.com/news/2016-...er-market-manipulation-legal-settlement-agree To quote Diamond city radio, - 'The biggest news, since... EVER , who knew , right?' about the destruction of the (silver) Institute.
Whatever the banksters want it to be since they set the price ... its "intrinsic" value unfortunately is not the issue in a manipulated market ... but analysts like Mike Maloney and others would say is should be much higher ... some might say its intrinsic value is in its "thickness" like its owners ... so who knows eh ...
How it all relates to the CTFC is a big story here. Bring in some USA banks and see what happens. I thought Armstrong had also denied this going on? 'CFTC in 2013 closed its five year investigation concerning allegations that the biggest bullion banks manipulate silver markets and prices. It proudly reported in September 2013 that it found no evidence of wrongdoing and dropped the probe.'
https://traderdan.com/?p=10722 Ah yes, the silver manipulation crowd is ecstatic this AM as they gleefully point to news that Deutsche Bank has agreed to settle in a class action lawsuit which claimed that it, along with several other large banks, had been rigging the silver price at the London Silver Fix.
The litigant filed in 2014 ... "J. Scott Nicholson seeking to bring a class action lawsuit against HSBC, Deutsche Bank and the Bank of Nova Scotia" "An investor this weekend filed a lawsuit in New York claiming the banks unlawfully manipulated the price of the metal and its derivatives in order to "reap large illegitimate profits". The complainant, J Scott Nicholson of Washington DC, said: "The extreme level of secrecy creates an environment that is ripe for manipulation. Defendants have a strong financial incentive to establish positions in both physical silver and silver derivatives prior to the public release of silver fixing results, allowing them to reap large illegitimate profits." read more at: http://www.theguardian.com/business...-investor-sues-hsbc-deutsche-bank-nova-scotia
Intrinsic Value? It cannot be anymore than the average of whatever it costs to produce it, both mining and recovery. In other words, possibly lower than it is today.
