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US and Brussels target at least 12 banks over forex
Kara Scannell and Alex Barker
Financial Times, London
Thursday, November 13, 2014
Six banks agreed a $4.3 billion settlement with UK, US, and Swiss regulators on Wednesday for allegedly attempting to manipulate the foreign exchange market. But for them and at least half a dozen other banks and their legal and public relations, the exposure is far from over as US and European investigators continue to pursue cases.
The US Department of Justice is investigating numerous banks, former traders, and salesmen for allegedly manipulating the $5.3 trillion forex market and overcharging customers, while evidence obtained by Europe's top competition authority, people close to the probe said, is of "startling quality."
The investigations, which are expected to play out over the next year or longer, will probably result in large fines and criminal findings from the DoJ, these people say. ...
... For the remainder of the report:
http://www.ft.com/intl/cms/s/0/3f33027a-6b51-11e4-9337-00144feabdc0.html...
Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore
Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore.
Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars.
Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver.
Goldbroker.com is listed among GATA's recommended monetary metals dealers. (http://www.gata.org/node/173)
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