'An intense five years': Read HSBC CEO Noel Quinn's surprise resignation statement
________
Source: Business Insider
REPORT: Barclays, HSBC, and UBS were allegedly involved in rigging the silver market
By Will Martin | December 8, 2016
Major banks including HSBC, UBS, and Barclays were allegedly involved in the rigging of the silver markets, according to a legal filing in New York on Wednesday, Bloomberg reports.
Bringing AI to your data can help your organization increase control and minimize risk. Here's how.
Legal documents presented in the filing allegedly provide "smoking gun" evidence that banks worked together to manipulate the silver markets, and relate to a federal lawsuit filed in 2014 by those that bought or sold futures contracts.
"Plaintiffs are now able to plead with direct, 'smoking gun' evidence,' including secret electronic chats involving silver traders and submitters across a number of financial institutions, a multi-year, well-coordinated and wide-ranging conspiracy to rig the prices," the filing says.
The alleged evidence provided by the unnamed plaintiffs comes from a series of documents handed over by Deutsche Bank in an earlier suit over their alleged involvement in rigging the silver market. In October, Deutsche Bank settled a suit related to its alleged involvement in silver price manipulating agreeing to pay $38 million.
According to Bloomberg, the plaintiffs allege that the documents "show traders and submitters coordinating trades in advance of a daily phone call, manipulating the spot market for silver, conspiring to fix the spread on silver offered to customers and using illegal strategies to rig prices."
Please go to Business Insider to continue reading.
________
Such a nice customer friendly bank:
Not familiar with HSBC's long and distinguished history? There is a lot more going on here than just rigging the silver market:
And it continues until today compliments of the big banksters...
More:
GATA: Gold Market Manipulation - 'Huge Amounts of Money' - Confronting the Facts - Taking the Fight to Them - The System Is Dysfunctional
Interview with Bill Murphy of GATA - Manipulation of Gold and Silver Markets - The Bullion Bank Cartel
Maybe it is because HSBC bank needs the extra billions to shift operations from west to east after the their harvesting is over?
The Brits [HSBC] -- Incredibly -- Again?
HSBC becomes first international bank allowed to remit yuan to China
HSBC must prioritise Asian expertise in surprise CEO search
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.