Tuesday, April 30, 2024

How do you want your silver on the 1st of May?

Editor's note: Those invested in silver and gold and investment analysts have known that HSBC bank has been rigging the silver market for years accused of gaining billions of dollars. HSBC has likely been rigging the silver market for more than 160 years with regulators knowing the roughly $30 billion (worth more today) silver market has been rigged for years. HSBC has been able to avoid lawsuits over the years (it's always "allegedly" rigging) for rigging the silver market so yes, it has been an "intense five years" for HSBC's CEO who resigned. And the CEO of HSBC resigned just before HSBC finds themselves with a massive silver short position having to deliver 93% of the physical silver on the COMEX on the 1st of the May. Do you know what we think? HSBC harvested the west is now moving east.

'An intense five years': Read HSBC CEO Noel Quinn's surprise resignation statement
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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.

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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.
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Such a nice customer friendly bank:



QFS -- The Brit-Chinese Trojan Pig Released by.... HSBC. Who Knew?


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

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