Search Results for: barclays

Deutsche Bank fined a record $2.5bn for Libor rate-rigging

Deutsche Bank

German banking giant Deutsche Bank will pay a record $2.5 billion for rigging interest rates in a multi-bank conspiracy that undermined global financial markets, US and British authorities said Thursday. “Deutsche Bank secretly conspired with its competitors to rig the benchmark interest rates at the heart of the global financial …

Read More »

Lobbying scandal engulfs Bilderberg

Club Bilderberg

Secrecy at the Bilderberg conference – where corporate kingpins, government officials, and royals meet – is receiving renewed attention following the LIBOR scandal and a more recent one at the House of Lords. In the latter case, two members of the Labor Party, Brian Mackenzie and Jack Cunningham, and Ulster Unionist …

Read More »

British banker goes ‘American Psycho’ in Hong Kong

Rurik Jutting psycho

The excesses of 1980s New York investment banking as captured best (and with just a dose of hyperbole) by Bret Easton Ellis’s American Psycho may be long gone in the US, but they certainly are alive and well in other banking meccas, such as the one place where every financier …

Read More »

UBS fined for silver price manipulation

Precious metals silver

Switzerland’s regulator found “serious misconduct” by UBS employees in precious metals trading, particularly with silver, as part of its review of the bank’s foreign-exchange business. Electronic chats played a “key” role in the improper conduct in foreign exchange and precious metals trading, the Swiss Financial Market Supervisory Authority, or Finma, said in …

Read More »

Paper gold & silver ponzi exposed – technical analysis

Anyone watching the gold and silver market understands that something is not right. An objective look at the fundamentals suggests that there seems to be no substance behind the recent downwards move. There has been a constant debate over the years on what drives the price of gold and silver. …

Read More »

Swiss to investigate manipulation of currency markets

Currency market

Swiss regulators are investigating a number of financial firms over the potential manipulation of currency markets, where £3tn changes hands every day. The regulator said that multiple banks around the world could be drawn into the investigation, which will raise fresh questions about the integrity of the markets. The Swiss Financial Market Supervisory …

Read More »

UBS set to blow cover on massive gold-rigging scandal

UBS gold

With countless settlements documenting the rigging of every single asset class, it was only a matter of time before the regulators – some 10 years behind the curve as usual – finally cracked down on gold manipulation as well, even though as we have shown in the past, central banks in …

Read More »

Gold will go to and above $3,500 – Jim Sinclair

jim sinclair gold

My Dear Friends, Gold will go to and above $3500. This is the most important message I have sent you since 2001. There are very few of us dynamic thinkers that see everything as a trend constantly in motion. Anyone can be a static thinker, quoting recent economic figures or …

Read More »

NHS trusts spend £2m to stop 52 staff members from speaking out

David Nicholson

Sir David Nicholson will face accusations of misleading Parliament and of taking part in a “systemic cover-up”. Sir David Nicholson, who is retiring next year after criticism over his role in the Mid Staffs scandal, told MPs in March that he had only come across one of the orders, used …

Read More »

Wall Street banks are still ‘too big to fail’

Bank of America

The biggest banks still don’t have adequate bankruptcy plans to avoid precipitating another economic crisis, said U.S. regulators. Eleven of the nation’s largest banks still do not have viable bankruptcy plans that would avoid causing widespread economic damage, U.S. regulators said Tuesday in a sweeping admonition of Wall Street’s giants. The Federal …

Read More »

War criminal Tony Blair: “hanging bankers won’t help”

Tony Blair

Public anger over the financial crisis is wrong and must not lead Britain to “hang bankers at the end of the street,” Tony Blair says today. In an interview with The Daily Telegraph, the former prime minister launches a defence of the free market and liberal economic rules established by …

Read More »

UK banks won’t survive another recession

Bank of England London

Former Bank of England governor Mervyn King has warned that British banks are too weak to weather another financial crisis, adding that government officials haven’t “got to the heart” of what went wrong in 2008. Speaking to BBC Radio 4 on Monday, King criticised current measures being taken by the …

Read More »

David Cameron to attend Bilderberg group meeting

David Cameron criminal

Downing Street defends visit to secretive group, where prime minister will not be accompanied by civil servants. David Cameron is to attend the secretive Bilderberg group at the luxury Grove hotel in Watford on Friday evening, in a move that is likely to raise questions about his pledge to lead Britain’s most transparent …

Read More »

Silver supply is struggling to keep up with demand

Silver 999

From Filip Karinja, for Birch Gold Group In the past few weeks and months, the price of silver has been hit relatively hard on the COMEX paper derivatives market. But oddly — or maybe not at all — the complete opposite is happening in the market for the metal in its …

Read More »

The biggest price-fixing scandal ever

Libor

Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this …

Read More »

Forex scandal: criminal bankers must be jailed, not fined

Six banks forex rigging scandal

Financial penalties expected to hit British banks for Forex rigging will do little to tackle financial crime in the City of London as regulators continue to prioritize high finance over ordinary citizens, experts warn. British banks could be fined billions in coming months as investors pursue them for rigging foreign …

Read More »

Fed Vice Chair says bankers should be punished for financial crimes

Federal Reserve Vice Chairman Stanley Fischer

Federal Reserve Vice Chairman Stanley Fischer said bankers who have engaged in wrongdoing should be punished, and he chided the industry for pushing back against financial regulations adopted to prevent another conflagration. “Individuals should be punished for any misconduct they personally engaged in,” Fischer said in a speech to bankers …

Read More »