If you’ve been involved in the world of precious metals for any length of time it’s highly likely you’ve come across some charts from Nick Laird’s website www.goldchartsrus.com.
With the release of screeds of documents (350,000 pages!) as part of a settlement by Deutsche Bank in a lawsuit for manipulation in the silver market (i.e. paying a smaller amount to avoid going to trial and paying a much bigger one), Nick Laird has done a fantastic job of creating a timeline chart. This timeline shows the price action in silver highlighting specific acts of collusion by a cabal of banks including Deutsche Bank as outlined in the released documents. It’s likely that other banks will also have law suits taken against them now too.
Here is the link to timeline:
This timeline takes a bit of reading as there a lot of links to click on. However Mike Maloney has done a good job of summarising some parts of it in the video below.
He walks you through the historical silver charts and pinpoints the exact moments bank traders colluded together to rig the markets. The evidence leaves little to doubt. But as you’ll learn, there’s an upside to this manipulation for silver investors who accumulate physical metals.
There can be little doubt now that the likes of the Gold Anti Trust Action Committee (GATA) have been right all along.
For more of the evidence GATA have gathered over the years, see the speech that Chris Powell gave a few years ago here in Auckland. He clearly outlines many of the documents that show banks and central banks plainly intervene in the precious metals markets.
But it’s also important to note as Bix Weir does that not all price rigging in silver is illegal:
“Although the price rigging of silver is MOSTLY illegal, it is not ALL illegal. It is illegal for the bullion banks to rig the silver market without approval from the US Treasury but it is NOT illegal to rig the silver market when you are instructed to by the US Government.
The US Treasury has the right and the DUTY to rig the silver market under the power of the Gold Reserve Act of 1934 which legalized the Exchange Stabilization Fund which is used to “influence markets.” This fund is controlled by the President’s Working Group on Financial Markets which answers directly to the President. The Working Group consists of the Head of the Treasury, the Head of the Fed, the Head of the SEC and the Head of the CFTC…oops.
So don’t ask WHY the CFTC is not opening up a new silver market rigging investigation after seeing all this proof of the rigging. They have already closed 3 separate silver inquiries and found NOTHING.
Of course they found nothing…they are part of the rigging mechanism!Yes, it’s all a CON but it is also ENDING as the Bad Guys are being removed from power.If the current price of silver has got you frustrated and you KNOW that they have been suppressing the price for decades if not centuries… ask yourself what the price of silver will have to do to become “freely traded” once again?If you are thinking $1,000’s of dollar per ounce you are most likely correct…at least while as the price unwinds decades of manipulation.So take heart all you frustrated Silver Bugs…our day in the sun will come very soon.”
Yes indeed silver holders have been frustrated of late. But as was shown by the London Gold Pool in the 1960’s manipulation cannot last forever.