Silver Bullion Manipulation By Banks Proven In Traders Chats
- Evidence of traders rigging the silver market
- Court documents detail private chats between bank traders
- Lawsuit alleges widespread rigging of precious metal market
- “Avalanche can be triggered by a pebble if u get the timing right” – UBS trader
- “If we are correct and do it together, we screw other people hard” – UBS trader
Since 2003, we have believed and written about how the silver and gold markets are manipulated and “fixed” by banks. Even then there was circumstantial evidence to suggest this was the case.
Now we have definitive proof and the smoking gun that the “silver market mafia” in the form of leading bullion banks – such as Deutsche Bank, UBS and HSBC – were coordinating the manipulation of the price of silver and suppressing prices as alleged by the Gold Anti Trust Action Commitee (GATA).
While this is a joke to the young, naive, greedy and overpaid traders, it is important to remember that this is not a victimless crime. These traders were allowed to this by the banks they work for, thereby defrauding retail silver investors and bullion buyers around the world.