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Deutsche Bank's confession may lead to more disclosures of market rigging
11:19a ET Tuesday, October 18, 2016
Dear Friend of GATA and Gold:
Deutsche Bank's agreement to pay $38 million to settle class-action antitrust lawsuits charging the bank with being part of a cabal that was rigging the silver market --
http://www.gata.org/node/16847
-- seems important for at least three reasons:
1) It is a confession of sorts and confirms the rigging of the silver market by investment banks. The settlement will make it harder for apologists for the world financial system to dismiss complaints of rigging in the monetary metals markets.
2) While the cash award in the settlement with Deutsche Bank is relatively small, $38 million, it will have been worth so much more if, as the plaintiffs' lawyers believe, it makes other investment banks that have been heavily involved in silver trading more vulnerable and more inclined to settle the complaints against them.
3) Of course GATA is more interested in discovery and deposition in these lawsuits in the hope that they will produce evidence implicating central banks and governments in the market rigging. But if such evidence indeed is found, it might do no more than inflate the settlement offers from the defendants and condition their acceptance on suppressing all the evidence.
In short the settlement with Deutsche Bank is positive for the pursuit of free and transparent markets and limited and accountable government. It's negative for financial repression.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Sandspring Resources Commences 2016 Exploration Campaign
Company Announcement
August 17, 2016
Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.
In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.
For the remainder of the announcement and highlights of the 2015 drill program:
https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.html
Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
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