More proof the Wall St looters have rigged all the financial markets to steal from small investors
Posted by freedomforall 8 years, 11 months ago to Business
This example is european banksters, but this is just the tip of the iceberg. US banksters invented this kind of looting.
Excerpt:
The Deutsche Bank documents show, among other things, how two UBS traders communicated directly with two Deutsche Bank traders and discussed ways to rig the market. The traders shared customer order-flow information, improperly triggered customer stop-loss orders, and engaged in practices such as spoofing, all meant to destabilize the price of silver ahead of the fix and result in forced selling or buying. It is also what has led on so many occasions to the infamous previous metals "slam", when out of nowhere billions in notional contracts emerge, usually with the intent to sell, to halt any upside moment in the precious metals/
"UBS was the third-largest market maker in the silver spot market and could directly influence the prices of silver financial instruments based on the sheer volume of silver it traded," the plaintiffs allege. "Conspiring with other large market makers, like Deutsche Bank and HSBC, only increased UBS’s ability to influence the market."
Some examples of the chats quoted are shown below. In the first example a chart between DB and HSBC traders in which one HSBC trader says "really wanna sel sil[ver" to which the other trader says "Let's go and smash it together."
Excerpt:
The Deutsche Bank documents show, among other things, how two UBS traders communicated directly with two Deutsche Bank traders and discussed ways to rig the market. The traders shared customer order-flow information, improperly triggered customer stop-loss orders, and engaged in practices such as spoofing, all meant to destabilize the price of silver ahead of the fix and result in forced selling or buying. It is also what has led on so many occasions to the infamous previous metals "slam", when out of nowhere billions in notional contracts emerge, usually with the intent to sell, to halt any upside moment in the precious metals/
"UBS was the third-largest market maker in the silver spot market and could directly influence the prices of silver financial instruments based on the sheer volume of silver it traded," the plaintiffs allege. "Conspiring with other large market makers, like Deutsche Bank and HSBC, only increased UBS’s ability to influence the market."
Some examples of the chats quoted are shown below. In the first example a chart between DB and HSBC traders in which one HSBC trader says "really wanna sel sil[ver" to which the other trader says "Let's go and smash it together."
Previous comments... You are currently on page 2.
1.) Instead of a bunch of bullshit regulations that are impossible by the losers at the SEC to enforce (many of whom are trying to get a job at a bank), lets try this - The government regulation is in the form of providing a cyber filter on the data connections to any licensed trading establishment. Guess what, no Twitter, no FaceBook, no text messages, emails are filtered through a SIEM for white and blacklisting, and phone call traffic is logged.
2.) The traders work in a SCIF. Guess what, their cell phones don't work. They go in ahead of the market day, and they leave when its over. They can return personal phone calls at lunch when it wouldn't make any difference in the market.
Ultimately, I happen to think the banks need to not be in the trading business and there needs to be a lot more transparency into what is bought and owned by pensions & 401k funds. On the individual investor level, let the buyer beware. Gold & Silver has always been a volatile investment, it ebbs and flows with the strength of the dollar (basically). Buying gold or silver is a bet against the dollar. I don't think I'd be betting against the dollar with a Trump presidency. 8 years ago when Obummer was firing up the printing presses at the Mint, it was the only investment in town.
The Euro is going to pretty much be in free-fall with Brexit and now France and others considering a removal of themselves from the EU. It won't be long before the euro is basically the Deutschmark.
0 +1 = 1. Your post does not deserve a zero or maybe you asked the wrong question.
Moving on to inspect three more zeros.