DTube - MAJOR BANKS Implicated In Gold & Silver Rigging! - Arrests Made!
One of our most recent video reports!
See the original article below:
Josh Sigurdson talks with author and economic analyst John Sneisen about the recent arrests of 6 traders who worked for HSBC, UBS and of course the masters of rigging themselves, Deutsche Bank.
This has been confirmed by a CFTC press release announcing law enforcement action against Krishna Mohan, Jiongsheng Zhao, James Vorley, Cedric Chanu, Jitesh Thakkar and the infamous Andre Flotron.
Deutsche Bank will pay a $30 million civil monetary penalty and undertake remedial relief.
UBS will pay a $15 million civil monetary penalty and undertake remedial relief as well.
HSBC will pay a civil monetary penalty of $1.6 million, and cease and desist from violating the Commodity Exchange Act’s prohibition against spoofing.
This is nothing new. Gold and silver manipulation is something we've been reporting on for years at WAM. Deutsche Bank has been caught in court rigging gold and silver prices many times over. They were also caught alongside HSBC, BNP Paribas, Scotia Bank, Bank of America and many others in 2016 doing just that.
Several of the names listed above have been caught doing this in the past as well.
Gold and silver scares banks. It's an insurance of wealth in the inevitable crash. Like basically every market in the world it's manipulated. We see ridiculous levels of ETFs flowing into the market suppressing the value of gold. The difference is that gold and silver have historical demand, application, scarcity and value. So the banks will continue to manipulate the market, but it won't last forever. Gold and silver are both incredibly undervalued. They're starting to break the bear manipulation in 2018. It just might get out of the bankers' hands!
And of course it's kind of like holding a beach ball under water, constantly gaining pressure, ready to bounce and all it takes is for that holding it down to lose control and it will bounce sky high.
Since 2012 especially, gold has been in an artificial bear market. We will see this end in the near future. Gold and silver have seen manipulation at the hands of banks and governments for decades. Centuries even.
Look at the gold standard. They printed far more IOUs than they had gold in the vaults. This lead to a lot of debt.
Look at the Exchange Stabilization Fund. It utilized gold confiscated under FDR in 1933 to establish itself as a fund. A fund with the main prerogative of manipulating markets, especially gold and silver. Later, much of that gold was used to fund the IMF.
But decentralization is always the natural outcome long term. We will see that decentralization and we will see the banking system and monetary system in general crash. Those holding gold and silver as well as cryptocurrencies will be very happy with the results. A monetary revolution cannot be fought without a few temporary downsides. Stay strong and independent everyone.
Stay tuned for more from WAM!
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Good news that the world can see that also this is rigged for years. This might cause a huge break out. Hope BTC and gold will rocket together soon!
This has been going on for as long as I can remember! That’s why I really don’t like the metals market. There’s too much manipulation for me to think I’m ever going to get what I want out of that market. Just hoping the crypto market doesn’t end up the same!
thank you friend waiting for more :)
Decentralization will flip the world upside down. As an anarchist I'm all in. tanks for all your great shows!
considering the extraction costs of gold it is fairly cheap.
surely,this is a breakthrough event of the arrest of these people who in a way deceive and manipulate people for their personal interest. thanks @joshsigurdson for the news.