Central banks soon may not have any intermediaries for rigging gold.
The gold fix, and other commodity benchmarks, has increasing public scrutiny as the knowledge that everything is rigged continues to be documented through scams with Mortgage Fraud, Securitization, LIBOR, FOREX, HFT, and other schemes are routinely reported in the aware (alternative) media.
The price of market rigging and corruption is getting higher under the People’s fury since the 2008 Banker Bailouts.
UPDATE 1-Deutsche Bank resigns gold, silver fix seat with no buyer
By Clara Denina Reuters Tuesday, April 29, 2014
Deutsche’s resignation leaves Barclays, HSBC , Bank of Nova Scotia and Societe Generale to set the gold benchmark, and just HSBC and Bank of Nova Scotia to set the silver benchmark.
Read More: http://uk.reuters.com/article/2014/04/29/gold-fix-deutsche-bank-idUKL6N0NL5LA20140429
Reduction of banks in London gold and silver fixes worries UK regulator
UK Financial Conduct Authority Could Intervene If Fewer Set Commodity Prices
By Clara Denina and Susan Thomas Reuters Tuesday, April 29, 2014
LONDON — Britain’s financial watchdog could intervene if there are too few participants to set commodity benchmarks including gold and silver, a senior official at the Financial Conduct Authority (FCA) said.
U.S. investors and traders have filed almost 20 antitrust lawsuits against the five banks involved in the London gold fix, accusing them of colluding to manipulate the bullion price.
One of them, Deutsche Bank, resigned from the gold and silver fix tables on Tuesday, just three months after putting its seat up for sale, after failing to find a buyer.
Sources told Reuters the lawsuits had deterred potential buyers. …
Read more: http://uk.reuters.com/article/2014/04/29/regulations-summit-gold-idUKL6N0NK4JY20140429