by Craig Hemke
Recent news of settlements and convictions regarding Bullion Bank precious metal price manipulation has led some to believe that the era of price rigging is over. Ummmm…..no.
If you’ve missed some of the latest news, here’s your chance to get caught up. Last week on these pages, we wrote a concise summary of the proven—and continuing—corruption. If you haven’t read it yet, you should. Here’s the link:
In the wake of these recent convictions and settlements, some analysts and observers have naively claimed that The Bullion Banks will now stand down and cease their very-profitable manipulation schemes due to a fear of further reprisals from the U.S. Department of Justice. Not only is this patently absurd, it denies the data that drives the need for price manipulation in the first place.