What should go without saying is settlements happen, particularly in cases involving banks to avoid it getting to court and setting a precedent. Oft times right or wrong is irrelevant compared to non disclosure clauses and terms attached to a settlement and even more so keeping it out of court. What is the writer giving away free steak knives with the story?
It was also reported by Reuters ... http://www.reuters.com/article/deutsche-bank-lawsuit-metals-idUSL2N17H1OS Maybe the next article would be "Silver investors too stupid to react" ...
"Manhattan federal court by lawyers representing investors and traders" ie the litigants ... i could have used the term "silver stackers" instead of "silver investors" as they are not necessarily the same thing ...
Some members here in the past been dismissing any manipulation of PMs as nonsense. I wonder if they still do?
You should expect them to make themselves scarce from this thread. Though there may be an attempt to play this story down. I personally think there is clearly something to the manipulation story, but whether that equates to many stackers belief that PMs prices have been artificially and drastically suppressed for many years might be a stretch. More likely it would be a case of the manipulators "scalping" prices for self-interest profit generation rather than an anti-PM conspiracy, but I am only speculating. Hopefully some details will come out at some stage....
The matter was also reported by Reuters... Deutsche Bank settles U.S. gold, silver price-fixing litigation "Deutsche Bank AG agreed to settle U.S. lawsuits accusing it of conspiring with other banks to manipulate gold and silver prices at investors' expense, court papers show." "The plaintiffs accused Deutsche Bank of conspiring with Bank of Nova Scotia, Barclays Plc, HSBC Holdings Plc and Societe Generale to manipulate prices of gold, gold futures and options, and gold derivatives through twice-a-day meetings to set the so-called London Gold Fixing." "They also accused Deutsche Bank, HSBC and ScotiaBank of a similar conspiracy to manipulate silver prices by rigging the daily Silver Fix." "UBS AG was also accused in both lawsuits of conspiring to exploit metals prices." read more at: http://www.reuters.com/article/deutsche-bank-lawsuit-metals-idUSL2N17H1OS
I would say it is no more manipulated than anything else. If there's anyone out there that is suggesting the markets are completely 100% honest all of the time - they're wrong. There will be cases of manipulation that get out into the open, banks in the game of making money after all, but to think that's evidence of a sustained ability to supress the global price of a commodity for great periods of time is stupid. Still $21 afterall, even after the "shocking" news. EDIT: in my opinion.
funny how they have all gone quiet. We all know who they are. Maybe they are crying as the world is not what they thought? Or they have put their head in the sand until it all blows over.
Anyone with an interest would have seen it on Bloomberg or Reuters though, surely? if it was big news you would have seen it in the form of a spike up. no spike means the big money doesn't care at all. The days will go by and nothing will change, you can't control the global price of a commodity through secret manipulation (anymore).
It's only big news if they think the manipulation will end. All the big money already know this was happening, so it's meaningless to have it confirmed. All they care about is that the manipulation continues, that way they can know which way a trade will go ahead of time and make money.
99.9999 % of people are myopically focussed upon the task in front of them, and don't think of weighty matters like international banking and economics, let alone the manipulation of something that 99.9999% of people barely remember is money. Look at LIBOR. Most shrugged their shoulders and said "what can you do?" And I agree. What can you do?
The public largely reads rubbish as news ... the mainstream media channels or newspapers dont want them to know ... they would rather publish articles such as "What has happened to avocado toast?" ... "Rebecca explains Footy Show mystery" ... "Mum loses right to name her twins" ... "Beetroot latte: A sign the end is nigh" ...
Agree, the news on the idiot box provides what the public responds to - dumb, brain destroying mush. Do you think the public would move the price of metal if they knew about this news story? I think not. Silver is nothing more than a colour to all but a spec of the population, it's industry and investors that would need to suspect manipulation for the price to explode - and I see no evidence to suggest anyone has been particularly phased in the last few days.
