Manipulation

A former trader at UBS Group AG was charged with conspiracy and fraud over his suspected role in manipulating the price of precious metals.

The coming gold and silver moves in the next few months will really surprise most investors as market volatility increases substantially.

Last week featured two unusual stories on gold — one strange and the other truly weird. These stories explain why gold is not just money but is the most politicized form of money.

Incredibly, most investors see no danger in stocks, bonds, property and debt being at historcal highs. This is the most lethal concoction of bubbles that has ever existed in history. Of course, bubbles can expand further before they implode.

As of 7.30pm, 3,098 contracts had changed hands, 2,186 priced in yuan and 912 in US dollars

As we reach the final stages of the current economic cycle, hubris is prevalent everywhere. Central bankers and bankers believe that they can continue to create wealth by printing and borrowing money. Since it has worked so well for 100 years in this latest cycle, why can’t it continue?

According to Goldman Sachs, central banks now hold a full third of the world’s bond market.

One/some/several “entities” decided at 9:38 a.m. this morning that it was necessary to dump 14,315 contracts of paper gold. This is just the August contract. In total a lot more was unloaded. This represents 1.43 million ozs of gold.

After pleading guilty to fraud charges last week and agreeing to cooperate, Liew has become a prime government witness for U.S. prosecutors investigating whether traders at the world’s biggest banks conspired to manipulate prices in silver, gold, platinum and palladium.

The Deutsche Bank trader, David Liew, pleaded guilty in federal court in Chicago to conspiring to spoof gold, silver, platinum and palladium futures, according to court papers.