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banks being sued over gold manipulation

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  • banks being sued over gold manipulation

    According to billionaire Eric Sprott, this lawsuit has put the brakes on gold manipulation by the Fed and the big banks. Expect a big jump in gold in the near future. In fact, it's already happening.

    Let's hope the bastards get their just desserts.
    MHG

    Billionaire Sprott Looking To Sue Banks For Gold Manipulation

    http://kingworldnews.com/kingworldne...ipulation.html
    Last edited by mhgaffney; 03-14-2014, 04:46 PM.

  • #2
    Originally posted by mhgaffney View Post
    According to billionaire Eric Sprott, this lawsuit has put the brakes on gold manipulation by the Fed and the big banks. Expect a big jump in gold in the near future. In fact, it's already happening.

    Let's hope the bastards get their just desserts.
    MHG

    Billionaire Sprott Looking To Sue Banks For Gold Manipulation

    http://kingworldnews.com/kingworldne...ipulation.html


    Sprott?? He's famous for his massive gold losses over the last 3 years.......he followed his own predictions. He's been so wrong for so long he's a punchline.......ask his fund investors.

    So now he's going to sue because he gets it wrong??

    Who bites on the story? Kingworld News.....another PCR outlet.



    Canadian hedge fund manager Eric Sprott loves him some gold.

    But unfortunately for Sprott and his clients, the shiny yellow metal has had a rough 2013. The Wall Street Journal's Rob Copeland reports that Sprott's main fund has dropped more than 50% this year, the third straight year of double-digit declines. From the Journal:

    Redemptions and weak performance have pushed down hedge-fund assets managed by Mr. Sprott to about $350 million from nearly $3 billion in 2008.

    The declines are largely due to the conviction of Mr. Sprott—for the most part unshaken—that gold and other precious metals will rise in the long term.

    Gold has dropped 25% over the past year and is on track for its first annual decline after 12 years of gains. It settled Wednesday at $1,257 a troy ounce. Silver, another favorite of Mr. Sprott's, is down 33% and settled Wednesday at $20.36 an ounce.
    Last edited by DenverBrit; 03-15-2014, 02:02 PM.

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    • #3
      The real story.....not gold but the LIBOR.

      14 March 2014 Last updated at 17:19 ET
      US regulator sues 16 banks for alleged Libor rigging

      A US regulator has sued 16 banks for allegedly manipulating the London interbank offered rate (Libor).

      The Libor rate is used to set trillions of dollars of financial contracts, including mortgages and financial transactions around the world.

      The regulator said the manipulation caused substantial losses to 38 US banks which were shut down during and after the 2008 financial crisis.

      The sued banks include Barclays, HSBC, Citigroup and Royal Bank of Scotland.

      http://www.bbc.com/news/business-26584942

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