News Analysis: The London Inter-Bank Official Rate (LIBOR) has been connected to $300+ Trillion Dollars in Derivatives, Loans, and Various Securities over the past few years (and seen as the “Benchmark” others could emulate), however it WAS Manipulated. The Scandal might be joined by possibly another Criminal Cabal: Foreign Currency and Precious Metals Rigging.
Some Currency ‘Insiders’ are thought to engage in “Fixing” the $5.3 Trillion Dollar A Day Foreign Exchange Market. Foreign Exchanges and the Precious Metals Markets are all under the scrutiny now of Various Nations’ Government Officials for much of the same reasons as ‘LIBOR’; Market Manipulation/Price Fixing.
The 10:30 A.M and the 15:00 P.M. Price Setting for Gold is supplanted by Silver’s Price Setting at Noon in London. Many say that there is more than sufficient time for “Insiders” to work their deals in the ‘Plots’.
Perhaps more nefarious regarding certain Commodities is: Purchasers of “Precious Metal Paper” (Certificates) rather than the Actual Bullion may want to rethink their position: Is the Commodity[s] that they ‘Own’ really in existence? Is the “Security Savings” by not taking possession worth the risk that the Precious Metals might be that of others (“Double Sales”)? Creating a “Piece of Paper With Ink On It As A Certificate Of Ownership” is much easier than creating a Bar of Gold (‘Aurum’ originates from collisions with Neutron Stars).
As Germany is wisely repatriating its bullion from the U.S. Government after allegedly requiring a Physical Audit of “Its’ Gold, investors should do the same. The “68 Foot Cube” of Gold represents allegedly, all that has been mined and processed to date many say. There are 171,300 Metric Tons in Circulation ($9.6+/- Trillion Dollars worth); yet, wisely, Germany repatriated some of its Gold Bullion!
The Untold Gains by “Inflating or Deflating” Commodities and Currencies, many Legitimate Law Enforcement Officials presume, is to be in the Billions of Dollars a Year. They are thwarted however by “Sharing the Wealth” of the Perpetrators (with other Accountants, Bankers, Corrupt Government Officials, and Traders). These associated Miscreants perpetuate the ‘Scams’ on the Freiers who think the FANTASY: “All Exchanges and Markets are Legitimate”.
‘The bigger the market, the bigger the thieves that are in it’ many Legitimate Law Enforcement think.
Great White Sharks Do Not Inhabit Small Lakes.
Reality.
Reference: http://rt.com/business/currency-rigging-worse-libor-759/
