Are the "officual" gold prices just the result of a big manipulation of certain banks?
CFTC suspects banks to have manipulated the fixing of the gold and silver prices and is looking into that matter. Investigation by the Commodity Futures Trading Commission may be opened as a result.
http://online.wsj.com/article/SB10001424127887324077704578358381575462340.html
My opinion:
We should have the market determine the value of gold. With the current financial crisis, the value of gold might have been much higher than we are told.
If it is true, that Deutsche Bank, Barkley´s and Co. have manipulated the gold price just as they did with the interbanking interest reates (libor), this institution should be closed down and free pricing like in the stock market should replace it.
Uhh, and send the responsible banking managers to jail.
CFTC suspects banks to have manipulated the fixing of the gold and silver prices and is looking into that matter. Investigation by the Commodity Futures Trading Commission may be opened as a result.
http://online.wsj.com/article/SB10001424127887324077704578358381575462340.html
My opinion:
We should have the market determine the value of gold. With the current financial crisis, the value of gold might have been much higher than we are told.
If it is true, that Deutsche Bank, Barkley´s and Co. have manipulated the gold price just as they did with the interbanking interest reates (libor), this institution should be closed down and free pricing like in the stock market should replace it.
Uhh, and send the responsible banking managers to jail.