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King Report: Banks suspected of rigging gold likely do it for central banks
By Bill King
Excerpted from The King Report, Burr Ridge, Illinois
Wednesday, February 25, 2015
http://www.mramseyking.com/king-report
For years if not decades the usual suspects ridiculed people who claimed that gold was being manipulated. But the conspiracy crowd was right:
"U.S. Investigates at Least 10 Major Banks for Possible Rigging of Precious-Metals Markets": http://on.wsj.com/1DgToAr
A similar investigation of the manipulation of the gold market by European banks was quietly squashed. It's reasonable to surmise that investigators quickly discovered that the biggest banks were often doing the bidding for central banks to keep excess liquidity flowing into financial assets instead of gold.
Surging precious metal prices, like in 2011, could induce investors to eschew financial assets for metals. This is what occurred in the late 1970s, and it could usurp central banks' and sovereigns' plans to inflate away unserviceable debt. ...
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