BANKS ADMIT TO FOREX MANIPULATION - Banks Fined $5.7 Billion over Foreign Exchange Rigging

BANKS ADMIT TO FOREX MANIPULATION - Banks Fined $5.7 Billion over Foreign Exchange Rigging



 Barclays, Royal Bank of Scotland and three other banks have been fined almost £4bn over the manipulation of foreign exchange and currency rates.

Four of the institutions - JPMorgan Chase, Citigroup, Barclays and RBS - have agreed to plead guilty to US criminal charges over manipulation of foreign exchange rates, the US Department of Justice said.

The fifth bank, UBS, will plead guilty to rigging benchmark interest rates, the department added.

In the final settlements under the foreign exchange (forex) market probe, Barclays agreed a £1.53bn fine with US and UK authorities, including £284.4m to Britain's Financial Conduct Authority (FCA). Royal Bank of Scotland agreed to pay a further £430m to US authorities Yet another banker has committed suicide, with a JP Morgan forex trader leaping to his death from the top of the firm’s Chater House headquarters in Hong Kong.

A dangerous new trend is the successful manipulation of the financial markets by the Federal Reserve, other central banks, private banks, and the US Treasury. The Federal Reserve reduced real interest rates on US government debt obligations first to zero and then pushed real interest rates into negative territory. Today the government charges you for the privilege of purchasing its bonds. The fee is paid in a premium, which raises the cost of the debt instrument above its face value and is paid again in accepting a negative rate of return, as the interest rate is less than the inflation rate. The stock market is high because corporations are the biggest purchases of stock. Buying back their own stock supports or raises the share price, enabling executives and boards to sell their shares or cash in their options at a profitable price. The cash that Quantitative Easing has given to the mega-banks leaves ample room for speculating in stocks, thus pushing up the price despite the absence of fundamentals that would support a rising stock market.
bank banking forex "forex trading" trading cartel "forex trading platform" chat manipulation euro dollar usd gbp partner partnership currency "currency exchange" "binary options" "binary trading" competition price markets market economy crash profit business investment investing pension 2015 2016 "spot price" trust "jp morgan" barclays "royal bank of scotland" london uk "united kingdom" "city of london" gold silver bullion news media entertainment swiss "offshore banking" tax interest credit loan debt "u.s. dollar" "trading platform" "gold etf" money cash "elite nwo agenda" alex jones infowars rant crazy exposed conspiracy gerald celente trends in the news jsnip4 montagraph anonymous occupy london riots bilderberg group elite mafia illuminati end game crash collapse fiat currency china russia get rich quick billionaire george soros rothchilds jim rogers marc faber

rigging of the gold price in the futures market. The Federal Reserve’s agents, the bullion banks, print paper futures contracts representing many tonnes of gold and dump them them into the market during periods of light or nonexistent trading. This drives down the gold price despite rising demand for the physical metal. This manipulation is done in order to counteract the effect of the expansion of money and debt on the dollar’s exchange value. A declining dollar price of gold makes the dollar look strong.

The evidence of gold price manipulation is clear. In this article we present evidence and describe the process. We conclude that ability to manipulate the gold price is disappearing as physical gold moves from New York and London to Asia, leaving the West with paper claims to gold that greatly exceed the available supply. What we are witnessing is our central bank pulling out all stops on integrity and lawfulness in order to serve a small handful of banks that financial deregulation allowed to become “too big to fail” at the expense of our economy and our currency. When the Fed runs out of gold to borrow, to rehypothecate, and to loot from ETFs, the Fed will have to abandon QE or the US dollar will collapse and with it Washington’s power to exercise hegemony over the world. Anti-globalization activists and Occupy Wall Street flunkies enjoy using gross figures (to paraphrase Carl Sagan, trilyuns and trilyuns) to cast the foreign exchange market as an enormous manifestation of financial depravity with no clear social purpose.




The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more