Next Up on Your Illegal Banking “Hit List:” Fixing Gold Prices

Wayne Ellis

Next Up on Your Illegal Banking “Hit List:” Fixing Gold Prices (Bloomberg)

Next up in the parade of banking bad boys are Barclays Plc (BCS) and Deutsche Bank AG (DB), which both stand accused of manipulating the London gold fix (a benchmark price used in the $20 trillion gold market). In all, 5 banks are involved in the lawsuit claiming the fix was in on this century-old benchmark. In addition to BCS and DB, Bank of Novia Scotia, HSBC Holdings Plc (HSBC) and Societe Generale SA (GLE) were also named in Manhattan federal court yesterday. The suit claims that unusual pricing patterns suggest manipulation since 2004. Does that mean it’s time to dump shares of any of these banks? Not according to Deutsche Bank spokeswoman Renee Calabro, who stated “We believe this suit is without merit…” But given the banking community’s recent track record of dubious activity, does anyone believer her?

Exclusive  10 Gold Investments to Buy Now

Like This Article?
Now Get Mark's FREE Special Report:
3 Dividend Plays with Sky-High Returns

This newly-released report by a top-20 living economist details three investments that are your best bets for income and appreciation for the rest of the year and beyond.

Get Access to the Report, 100% FREE


img
previous article

On Feb. 15, 6 insiders made 14 separate transactions acquiring more than 450,000 shares in all.

PREMIUM SERVICES FOR INVESTORS

Dr. Mark Skousen

Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.

Product Details

LEARN MORE HERE

Bryan Perry

A former Wall Street financial advisor with three decades' experience, Bryan Perry focuses his efforts on high-yield income investing and quick-hitting options plays.

Product Details

LEARN MORE HERE

Jim Woods

Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:

Product Details

LEARN MORE HERE

Bob Carlson

Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.

Product Details

LEARN MORE HERE

Hilary Kramer

Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers:

Product Details

LEARN MORE HERE

Jon Johnson

Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services:

Product Details

LEARN MORE HERE

DividendInvestor.com

Used by financial advisors and individual investors all over the world, DividendInvestor.com is the premier provider and one-stop shop for dividend information and research.

Product Details

Popular tools include our proprietary Dividend Calendar, Dividend Calculator, Dividend Score Card, and many more.

LEARN MORE HERE