Monday, April 21, 2014

Gold Market Manipulation is Worse Than LIBOR

On January 17th the (German) regulator came out and said it was possible the manipulation of the gold market could be worse than LIBOR.

But what’s happened in the last couple of weeks is we’ve had some lawsuits filed, and one of the lawsuits was filed by a legal firm that I had been in touch with a couple of weeks earlier. This law firm was the co-lead law firm in the LIBOR scandal. I’m sure they will be involved in the Forex scandal as well.

They’ve hired on a group that’s done all the investigative work on the previous scandals. So this is a serious investigation in terms of generating prima facie evidence of manipulation. I don’t think this is going to go away -- it’s going to get bigger.

I phoned them (the law firm) because I wanted to get involved in a class action lawsuit. I don’t know whether I will at this point in time because I’m Canadian and the lawsuit is filed in the U.S., but I think there is lots of energy behind the claims that we all have of manipulation.

- Eric Sprott via a recent King World News interview, read more here: