My Dear Friends,
It makes me ill when I see a defense presented with its foundation based in sand.
All that needs to be done here is a discovery (a legal process which comes after the process of complain and acceptance for trial), request copies of all transactions made by the bank and subsidiaries in the FIX as well as the paper market and OTC physical market. Give them over to 6 accountants working full time to computerize all trades by day, amount and price on the same spread sheet.
Then Michel Del Topo (Italian for Mickey Mouse) can review that information on one sheet will detect a pattern. The amount of data is so great that a pattern recognition computer program will be used, with your incontrovertible answer by pattern analysis. This article is either disinformation or simply a financial young do-it-all’s opinion on something he does not understand at all. There is a paper trail to all this available in discovery. The proof is out there.
It not only makes me ill, but also angers me in the period where law and logic mean nothing whatsoever.
This entire industry crushing fraud lies in plain view.
Market Manipulation Is Not Price Suppression
January 3, 2017
One of the most annoying claims made by manipulation-focused gold-market commentators is that evidence of market manipulation constitutes evidence of long-term price suppression. The claim is annoying not so much because it is obviously false, but because many people get fooled by it even though it is obviously false.
Experienced traders are well aware that banks and other large-scale operators regularly attempt to shift prices one way or the other in most financial markets to benefit their own bottom-lines. It has always been this way and it always will be this way. As I mentioned in previous blog posts (here, here and here, for example), when news emerges that banks have been caught manipulating prices in a market it isn’t really news at all.
Sometimes the manipulation is unethical and/or illegal (what’s illegal and what’s unethical aren’t always the same), but a lot of the price manipulation attempted by private operators in the financial markets is neither illegal nor unethical. A lot of the time it is a legitimate business practice.