Forex-Rigging Fines Could Hit $41 Billion Globally

Starship Earth: The Big Picture

Banks could have to pay as much as $41 billion globally to settle probes into allegations traders rigged benchmarks in the currency markets,Citigroup Inc. (C) said today.

Deutsche Bank AG (DBK) is seen as probably the “most impacted” with a fine of as much as 5.1 billion euros ($6.5 billion), Citigroup analysts led by Kinner Lakhani calculated, estimating the Frankfurt-based bank’s settlements could reach 10 percent of its tangible book value, or its assets’ worth.

Using similar calculations, Barclays Plc (BARC) could face as much as 3 billion pounds ($4.8 billion) in fines and UBS AG (UBSN) penalties of 4.3 billion Swiss francs ($4.6 billion), they wrote in a note first sent to clients on Oct. 3.

Authorities around the world are scrutinizing allegations that dealers traded ahead of their clients and colluded to rig currency benchmarks. Regulators in the U.K. and U.S. could reach settlements with some…

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2 comments on “Forex-Rigging Fines Could Hit $41 Billion Globally
  1. RonMamita says:

    Quantitative Easing is Hyper-inflating The Currency Supply

    Neither the USFed nor their Wall Street partners ever refer to QE’s capital destruction effect, because it contradicts their stimulus argument and false message.
    Theirs is pure propaganda in keeping with the urgent directive to save the banks that are too big to fail.
    These are the financial crime centers of America. -PhD. Jim Willie

    http://www.silverdoctors.com/jim-willie-shanghai-shock-to-shatter-the-gold-market/

    The pattern of central bank covering the debt is clear. The lesson is that central banks can apply paper patches to the failed banks, and buy more time, then repeat the process on the next failed bank event. No limit to their bank patches seems to be in force. The banker cabal can continue endlessly since their patches are based on paper solutions, fiat paper money spew, and they control the paper output. They are the masters of the House of Paper.
    The paper mache solutions can continue in a seemingly endless manner, but not in the Gold market.
    The intervention and suppression in the Gold market is finite. It requires Gold bullion, the physical ingot bars, in order to execute the perpetuated interference and alteration to this financial niche market.
    The manipulation is finite, and it is coming to an end.
    When the Shanghai shock comes, all the Paper Gold structures will fall, all the FOREX derivatives will collapse, all the control rooms will go into panic mode.
    […]
    Hidden was the biggest and most important to date, done in September 2008. The bailout was of Goldman Sachs, but made to look like a Lehman failure and AIG nationalization.

    Under the USGovt aegis, the venerable GSax was given 100 cents per dollar on derivative payouts, was redeemed in full on mortgage assets, and generally was placed first in line for all window functions. It was the most clever bank bailout in history. The source of the derivative payouts was the usual funny money, where all trails lead to the USFed in its money creation. The good people of the United States talk about the favored 1% Elite, but they really have no idea who the bankers are, what they do, devices they use, controls they exert, or influence they peddle. If only they knew how Goldman and Citibank write Congressional legislation and tap markets for illicit tolls and skims. Their huge penalties and fines for criminal behavior are incorporated into their business models. Crime has a relatively small but growing part in its cost of doing business.

    Royal Bank of Scotland was another giant bailout following a failure, or near failure. The UKGovt took a 81% stake in the failed financial institution, not quite buying lock stock and barrel in its many wrecked business segments. The bailout was worth 46 billion British Pounds, completed in 2008 and 2009. It is all gone, all squandered, good (phony) money after bad. The good people of Britain have complained about horrendous treatment by the bank ever since. The RBS bank remains predatory, but protected by the government.

  2. RonMamita says:

    U.S. Government SECRETLY Preventing a Stock Market Collapse!

    Posted 23 Oct 2014
    U.S. Stocks Surge; Nasdaq Up 2.4%
    All the Markets Need Is $200 Billion a Quarter From the Central Bankers
    the Plunge Protection Team. Or call it the President’s Working Group on Financial Markets, the official name given to the group when it was formed by President Ronald Reagan after the market turbulence of 1989.
    Executive Order 12631–Working Group on Financial Markets
    Doomsday Book
    McDonald’s Profit Down 30% On Sales Slump
    Coca-Cola Profit Declines 14%, Future Growth Plan Fails To Impress

    Sources:
    http://online.wsj.com/articles/u-s-stock-futures-rise-1413894481
    http://www.bloomberg.com/news/2014-10-21/how-markets-need-200-billion-each-quarter-from-central-bankers.html
    http://nypost.com/2014/10/20/plunge-protection-behind-markets-sudden-recovery/
    http://www.archives.gov/federal-register/codification/executive-order/12631.html
    http://www.nytimes.com/2014/10/15/business/economy/fed-is-silent-on-doomsday-book-its-blueprint-for-fighting-aig-crisis.html?_r=1
    http://www.forbes.com/sites/laurengensler/2014/10/21/mcdonalds-profit-down-30-on-sales-slump/
    http://www.forbes.com/sites/samanthasharf/2014/10/21/coca-cola-profit-declines-14-future-growth-plan-fails-to-impress/

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The Worldwide Wave of Action
Peaceful Global TransitionApril 4th, 2014
Exercise freedom and creativity for all Earth’s inhabitants to explore ready breakthroughs in Self Organizing Communities, economics, and technology. This is a D.I.Y. project
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Institutions of crime Big days have come and gone (government Elections, and Tax filing). Search for what is hidden and for what is not spoken. Be Aware of the next big Day for fraudulent institutions.
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