Here at www.preciousmetalsinvesting.com we have featured several videos about Deutche Bank’s admission of guilt in the silver manipulation scheme. In the settlement the were charged a paltry few millions while some commentators estimate the profits from these manipulation schemes made Billions. As part of the settlement they gave investigators 33,000 pages of documents that purportedly exposed some of the other banks that participated in the manipulation scheme.
But manipulation is only one part of the fraud banks committed to keep precious metals prices low. The other part of this is that absurd ratio of paper promises of gold versus the actual physical precious metals. Some commentators say there are 500 paper ounces of gold for each ounce of real gold. Others say it is much higher 1,500 paper ounces to each ounce of physical. Add to that the banks schemes of gold leasing where you may have many entities laying claim to the same gold. Or the client believing the bank’s promise that they have their client’s gold. It was only a matter of time until more clients wanted their gold and the bank couldn’t deliver what it didn’t have. Read the full article in zerohedge:
The bank tries to use weasel words to shift blame.
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