Tag Archives: bank of england

The gold price manipulation article the Financial Times removed

Financial Times gold

Two days ago the FT released a clear, informative and fact-based article, titled simply enough “Gold price rigging fears put investors on alert” in which author Madison Marriage, citing a report by the Fideres consultancy, revealed that global gold prices may have been manipulated on 50 per cent of occasions between January 2010 and December 2013. To those who hve been ... Read More »

Australia has no gold

Reserve Bank of Australia

After a campaign throughout 2012 to seek clarity in regards to the location of Australia’s Gold Reserves the Reserve Bank of Australia (RBA) has confirmed today in an email to me that 99.9% of their Gold Reserves are held in the gold vault of the Bank of England. Please read below for the text of the RBA’s email response to ... Read More »

Ex-Goldman Sachs banker appointed as new governor at Bank of England

Mark Carney Bank of England governor

Osborne’s choice for governor of the Bank of England will do nothing to prevent the next collapse of the financial system. Today the chancellor confirmed that there will be no real change at the Bank of England. There will be no change to the Treasury and Bank of England’s obsession with inflation targeting and “price stability”. Above all, he confirmed that ... Read More »

The Libor scandal explained

Libor Scandal

According to news reports, UK banks fixed the London interbank borrowing rate (Libor) with the complicity of the Bank of England (UK central bank) at a low rate in order to obtain a cheap borrowing cost. The way this scandal is playing out is that the banks benefitted from borrowing at these low rates. Whereas this is true, it also ... Read More »

‘Big five’ bank customers vent anger by taking their money elsewhere

Customer cuts up Barclays bank card

Angry bank customers have been voting with their wallets and bombarding co-ops, building societies and credit unions with applications for current accounts over the past week, after the NatWest computer meltdown and the Barclays rate-rigging scandal. Data compiled by the campaign group Move Your Money UK shows an explosion in requests to switch from large high street banks to smaller alternatives that consumers hope ... Read More »