Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

jeff of pa

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After scandals involving libor and, perhaps, ISDAfix, the question that should have everyone freaked out is this: What other markets out there carry the same potential for manipulation? The answer to that question is far from reassuring, because the potential is almost everywhere. From gold to gas to swaps to interest rates, prices all over the world are dependent upon little private cabals of cigar-chomping insiders we’re forced to trust. “In all the over-the-counter markets, you don’t really have pricing except by a bunch of guys getting together,” Masters notes glumly.

That includes the markets for gold (where prices are set by five banks in a Libor-ish teleconferencing process that, ironically, was created in part by N M Rothschild & Sons) and silver (whose price is set by just three banks), as well as benchmark rates in numerous other commodities

As Trust Evaporates?
 

Marchas45

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Yea I read this already Jeff, what surprises me is that it was the Rolling Stone which is getting close to the Main Stream Media.
 

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jeff of pa

jeff of pa

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Yea I read this already Jeff, what surprises me is that it was the Rolling Stone which is getting close to the Main Stream Media.

Yea whats with that ?
Music getting too boring these days ? :tongue3:
 

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