Government Admits Economic Conspiracies Do Exist!

When big banks are fined 10’s of millions of dollars you can be sure they made billions or trillions of dollars in profits for their crimes… and bought a bunch of crooked politicians (that’s like saying “wet water”) with the proceeds.

For a long, long, long time, those who said metals markets were ‘fixed’ were the tinfoil hat crowd—creating conspiracies to cover their own bad investing. Well, in the past couple of years just about every single “conspiracy” has been proved dead-on accurate.

From Zero Hedge:

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 announced that it fined Barclays £26 million for manipulating “the setting of the price of gold in order to avoid paying out on a client order.” Furthermore, the FCA confirmed that those inexplicable gold raids which come as if out of nowhere, and slam gold with a vicious force so strong sometime they halt the entire market, had a very specific source: Barclays, whose trader Daniel James Plunkett, born 1976, “sent out a burst of orders aimed at moving the price of the yellow metal.”

This took place for a decade. As the FT reports:

The FCA said Barclays had failed to “adequately manage conflicts of interest between itself and its customers as well as systems and controls failings, in relation to the gold fixing” between 2004 and 2013.

Some further details on Plunkett’s preferred means of manipulating the gold price.

The FCA said Mr Plunkett had manipulated the market by placing, withdrawing and re-placing a large sell order for between 40,000 oz and 60,000 oz of gold bars.

He did this in an attempt to pull off a “mini puke”, which the FCA took to mean a sharp fall in the price of gold. As a result, the bank was not obliged to make a $3.9m payment to the customer under an option contract.

So… what other conspiracies in the world of government and banking are actually true? You can bet the answer is: A lot more than we’d ever want to know.

If we knew even 1/10,000th of what God knows, we’d probably have destroyed the earth and everyone on it hundreds of thousands of times. Amazing grace, indeed, that any of us is still breathing.