thx for the article - sadly doesn't surprise me
/agreed
Topic: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says (Read 1289 times)
December 02, 2014, 09:53:16 AM
/agreed
December 02, 2014, 07:43:58 AM
thx for the article - sadly doesn't surprise me
December 01, 2014, 07:18:14 PM
Oh my goodness!, "tens of millions" well isnt that alot. Obviously someone here has never worked on Wall Street.
And who here has worked in wall street? 
November 28, 2014, 10:32:31 AM
These banks are already paying huge fines for manipulating LIBOR.
That was easy to manipulate - something which is calculated by taking a poll from different bankers.
However, metal prices are slightly tougher. I think if the variance is too large, somebody might be able to arbitrage between the physical trade and these financial instruments. This article talks about benefiting from insider knowledge on metal trades. Rigging might be too harsh a word to use in this case.
That was easy to manipulate - something which is calculated by taking a poll from different bankers.
However, metal prices are slightly tougher. I think if the variance is too large, somebody might be able to arbitrage between the physical trade and these financial instruments. This article talks about benefiting from insider knowledge on metal trades. Rigging might be too harsh a word to use in this case.
November 27, 2014, 04:06:30 AM
According to the article, the 4 parties actually set the market price for the London Platinum and Palladium Market. It's so easy for them to set a price to their advantage.
Quote from: Bloomberg (Erik Larson in New York)
Goldman Sachs, HSBC, Standard Bank and BASF are the only participants in twice-daily conference calls to set global price benchmarks for the London Platinum and Palladium Market
November 27, 2014, 02:37:07 AM
People's knowledge about market is improving... It's not too far away they will start to sue the fiat money 
Suing these people isn't going to do a damn thing, unfortunately we're probably going to need a revolution.
November 26, 2014, 09:41:55 PM
People's knowledge about market is improving... It's not too far away they will start to sue the fiat money
November 26, 2014, 11:43:35 AM
I'm sure that isn't the only thing they are manipulating for many years.
But hey, what isn't manipulated in today's economy
But hey, what isn't manipulated in today's economy
November 26, 2014, 11:21:15 AM
HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says
http://www.bloomberg.com/news/2014-11-25/hsbc-goldman-rigged-metals-prices-for-years-suit-says.html
cant believe that
http://www.bloomberg.com/news/2014-11-25/hsbc-goldman-rigged-metals-prices-for-years-suit-says.html
cant believe that
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