World Affairs Brief, April 22, 2016 Commentary and Insights on a Troubled World.
Copyright Joel Skousen. Partial quotations with attribution permitted. Cite source as Joel Skousen’s World Affairs Brief (http://www.worldaffairsbrief.com).
This Week’s Analysis:
The Saudi Connection to the 9/11 Hijackers
Trump Wins Big in New York
Transgender Bathroom Idiocy
Battle of the Brexit
Silver and Gold Market Manipulation
FISA Court Issues Rare Rebuke to NSA
Tale of Two Cities
SILVER AND GOLD MARKET MANIPULATION
Robert Kirby puts it bluntly: Silver and Gold used to be the best hedge against fiat money—that’s why they have been targeted (for manipulation). Demand for precious metals has been going up, but price has gone down—which is opposite to the laws of supply and demand. Deutsche Bank has finally admitted it participated in the rigging of price for gold and silver. While it will pay a fine that doesn’t even come close to its gains, it has agreed to name other conspirators. Strangely, no American banks are being fingered, though we know they are also involved with using naked shorts to depress the price of gold and silver. Zerohedge writes,
Earlier today when we reported the stunning news that DB has decided to “turn” against the precious metals manipulation cartel by first settling a long-running silver price fixing lawsuit which in addition to “valuable monetary consideration” said it would expose the other banks’ rigging having also “agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement”…. a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar market.
The lawsuit, which was originally filed in a New York district court… alleged that the banks, which oversee the century-old silver fix, manipulated the physical and COMEX futures market since January 2007. The lawsuit subsequently received class-action status. It was the first case to target the silver fix.
This is part of the reason why silver has risen from $11/oz to over $17/oz recently. At its high before the manipulation began silver was over $30/oz. so it still has a ways to go before it reaches its true market value.