There is a reason why the regulators seem to be finding that the big banks have manipulated every market except silver (and gold). In all the new findings and admissions of wrongdoing by the banks, there was no prior strong record of allegations that the banks were up to no good. Because of this, the regulators haven’t been accused of overlooking and missing crimes that they should have caught long ago, even though the crimes couldn’t have just started recently.
Another key difference to why the regulatory charges of manipulation in Libor and foreign exchange can’t be made in COMEX silver and gold is that damage to outsiders is too easy to prove in the case of the precious metals. This means the flood of private lawsuits that would emerge should the CFTC find what most everyone knows already (that silver and gold are manipulated) would swamp the banks and the CME. Can’t have that.
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More precious metals news & information available at Ed Steer’s Gold & Silver Daily. |
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