Profile image
By John Rolls (Reporter)
Contributor profile | More stories
Story Views
Now:
Last Hour:
Last 24 Hours:
Total:

Another Bank “Fined” for Rigging the Gold and Silver Markets

% of readers think this story is Fact. Add your two cents.

By Rory Hall  /  GoldSeek

The evidence continues to mount proving the work that GATA has performed for the past two decades is, not only 100% accurate, but shows how much a part of world gold actually plays. Don’t think for a minute that gold is not part of our monetary system. If it weren’t these price rigging schemes would not happen – especially on a global basis.

We reported on Deutsche Bank two years ago – click here click here click here – when their precious metals market rigging schemes were exposed and the bank was “fined” for rigging the gold market. During the investigation it was also discovered Deutsche Bank was rigging the silver market. A series of internal instant messages confirmed the rigging mechanism and the fact the price rigging was actually happening.

This situation with Deutsche Bank reached a point of two different class action lawsuits being filed for damages caused by the banks market rigging scheme. As Craig Hemke, TFMetals Report, explained at the time of this leg of the crime spree:

This post is intended to remind you that this case is not about the present and it’s not about the $38MM dollars. Instead, the true significance of this lawsuit will be on display over the coming months and years as innumerable new class action lawsuits are filed against The Bullion Banks for their collective role in rigging and manipulating the precious metals markets.

Now we learn the Canadian based Bank of Nova Scotia has now been caught with their hand in the cookie jar and charged with “spoofing” the gold and silver markets.

The Commission finds the following:

A. SUMMARY

On certain dates during the period from at least June 2013 through June 2016 (the “Relevant Period”), BNS, by and through traders on its precious metals trading desk (“Traders”), engaged in the disruptive trading practice of “spoofing” (bidding or offering with the intent to cancel the bid or offer before execution) in gold and silver futures products traded on the Chicago Mercantile Exchange (“CME”). BNS’s disruptive trading violated Section 4c(a)(5)(C) ofthe Act, 7 U.S.C. § 6c(a)(5)(C) (2012).

In accepting the Offer, the Commission recognizes BNS’s self-reporting and cooperation during the Division of Enforcement’s (“Division”) investigation of this matter, explained in more detail below. The Commission notes that self-reporting, cooperation, and remediation by BNS are being recognized in the form of a substantially reduced civil monetary penalty.

The Commodity Futures Trading Commission (CFTC) “fined” Bank of Nova Scotia a paltry $800,000 for their part in this leg of the market rigging scheme. I say “this leg” as this is now the second bank to have been found guilty of rigging these particular markets. How many more banks, and what techniques will be discovered next.

https://thedailycoin.org/2018/10/02/another-bank-fined-for-rigging-the-gold-and-silver-markets/

http://news.goldseek.com/GoldSeek/1538491837.php

More great articles here at GoldSeek

 

 

Support BeforeitsNews by trying our natural health products! Join our affiliate program
Order by Phone at 888-809-8385 or online at www.mitocopper.com
Get our Free Ebook, "Suppressed Health Secrets" THEY don't want you to know!

APeX - Far superior to colloidal silver!  Desroys Viruses, Bacteria, Pathogens!
Ultimate Curcumin - Natural pain relief, reduce inflammation and so much more.
Supreme Fulvic - Nature's most important supplement! Vivid Dreams again!
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy.
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup!
B-12 - Supports healthy metabolism, brain function, hormone balance!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Never Wax Your Car Again -
Protects vehicles for years with dazzling shine!
Smart Meter Cover - Reduces Smart Meter radiation! See Video!
Prodovite - The Secret To Healing is in the Blood!

Tactical Laser Blinds
Attackers
Bring Batteries Back
toLife!
New Laser Blinds Attackers Instantly! Bring Dead Batteries Back to life!
US Faces 100 Year Drought
Cut Power Bills by 65%
NASA - US Faces 100 Year Drought! Discovery Can Cut Power Bills by 65%
Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Total 2 comments
    • desertspeaks

      and again, no one goes to prison.. can you say rigged game

    • cdsfvAD

      Thanks for sharing.I found a lot of interesting information here. A really good post, very thankful and hopeful that you will write many more posts like this one.
      https://messenger.red/
      https://hotstar.onl/
      kodi

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.