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Title: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says Post by: LiteCoinGuy on November 26, 2014, 04:21:15 PM HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says
http://www.bloomberg.com/news/2014-11-25/hsbc-goldman-rigged-metals-prices-for-years-suit-says.html cant believe that :P Title: Re: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says Post by: 1Referee on November 26, 2014, 04:43:35 PM I'm sure that isn't the only thing they are manipulating for many years.
But hey, what isn't manipulated in today's economy :-\ Title: Re: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says Post by: johnyj on November 27, 2014, 02:41:55 AM People's knowledge about market is improving... It's not too far away they will start to sue the fiat money ;)
Title: Re: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says Post by: Lethn on November 27, 2014, 07:37:07 AM People's knowledge about market is improving... It's not too far away they will start to sue the fiat money ;) Suing these people isn't going to do a damn thing, unfortunately we're probably going to need a revolution. Title: Re: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says Post by: medUSA on November 27, 2014, 09:06:30 AM According to the article, the 4 parties actually set the market price for the London Platinum and Palladium Market. It's so easy for them to set a price to their advantage.
Quote from: Bloomberg (Erik Larson in New York) Goldman Sachs, HSBC, Standard Bank and BASF are the only participants in twice-daily conference calls to set global price benchmarks for the London Platinum and Palladium Market Title: Re: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says Post by: panju1 on November 28, 2014, 03:32:31 PM These banks are already paying huge fines for manipulating LIBOR.
That was easy to manipulate - something which is calculated by taking a poll from different bankers. ;D However, metal prices are slightly tougher. I think if the variance is too large, somebody might be able to arbitrage between the physical trade and these financial instruments. This article talks about benefiting from insider knowledge on metal trades. Rigging might be too harsh a word to use in this case. Title: Re: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says Post by: oblivi on December 02, 2014, 12:18:14 AM Oh my goodness!, "tens of millions" well isnt that alot. Obviously someone here has never worked on Wall Street. And who here has worked in wall street? ::)Title: Re: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says Post by: btckold24 on December 02, 2014, 12:43:58 PM thx for the article - sadly doesn't surprise me
Title: Re: Bloomberg: HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says Post by: Cheesus on December 02, 2014, 02:53:16 PM thx for the article - sadly doesn't surprise me /agreed |