Tag Archives: libor

Barclays fined £26 million for manipulating price of gold for a decade

Barclays gold price rigging

It was almost inevitable: a week after we wrote “From Rothschild To Koch Industries: Meet The People Who “Fix” The Price Of Gold” and days after “Barclays’ Head Of Gold Trading, And Gold “Fixer”, Is Leaving The Bank“, earlier today the UK Financial Conduct Authority finally formalized what most in the “tin-foil” hat community had known for years, when it ... Read More »

London’s silver price fix to end after nearly 120 years

City of London

Following a crackdown on precious metal manipulation by various European regulators (mostly Germany’s BaFin, recall “Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says“), which led to the shocking outcome that Deutsche Bank would pull out of the London gold and silver fixing committees, the London Silver Market Fixing company ended up with a most curious outcome: it would ... Read More »

Lobbying scandal engulfs Bilderberg

Club Bilderberg

Secrecy at the Bilderberg conference – where corporate kingpins, government officials, and royals meet – is receiving renewed attention following the LIBOR scandal and a more recent one at the House of Lords. In the latter case, two members of the Labor Party, Brian Mackenzie and Jack Cunningham, and Ulster Unionist member John Laird were summarily suspended by their parties after ... Read More »

The biggest price-fixing scandal ever

Libor

Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption ... Read More »

Could gold be the next Libor scandal?

london city

US regulator considering an inquiry into London’s gold and silver markets to check if prices are open to manipulation. London’s financial sector was last night bracing itself for another official investigation into alleged price-fixing following reports that a US regulator is considering launching an inquiry into the City’s gold and silver markets. The Commodity Futures Trading Commission is discussing whether the daily setting of ... Read More »

British bank Barclays to cut 3,700 jobs

Barclays Bank

Barclays, the third largest bank in Britain, is to cut at least 3,700 jobs as part of chief executive Antony Jenkins’ plan to overhaul the bank’s culture and reduce annual costs by £1.7 billion. Seeking to rebuild its reputation and boost profitability after a series of scandals, Barclays said it would shed 1,800 posts from its corporate and investment banking ... Read More »

Three arrested in UK over Libor rate fixing scandal

hang the bankers

The UK anti-fraud agency has arrested three men in connection with the Libor interest rate manipulation scandal that broke earlier this year. According to Britain’s Serious Fraud Office, the three British men are aged 33, 41 and 47 and are all currently living in the United Kingdom. They have been taken to a London police station for questioning. The arrests ... Read More »

RBS and UBS traders to face arrests over Libor scandal within a month

RBS

RBS and UBS traders accused of manipulating the Libor face arrests within a month, Bloomberg’s Lindsay Fortado reports. In case you’ve forgotten, the Libor is the London Interbank Offering Rate, a benchmark rate for financial products worth $360 trillion world wide. This summer, traders were found allegedly colluding with Libor submitters to manipulate the rate at various major banks. The scandal took down Barclays CEO Bob ... Read More »

RBS traders boast of making major $$$ by rigging interest rates

RBS libor

Senior traders at Royal Bank of Scotland boasted about operating a “cartel” that made “amazing” amounts of money by rigging interest rates, it has been disclosed. Internal messages revealed in court documents apparently show how traders claimed they could manipulate Libor, which is used to set borrowing costs for millions of businesses, consumers and investors. The messages, some sent just ... Read More »