Wednesday, December 30, 2015

Canadian investors file a class action lawsuit against the London Gold fix banks for manipulation

Libor, Forex, money laundering for cartels, equities… what do all these have in common?  They are markets that banks and brokers were allowed to manipulate until it became public knowledge that fraud and corruption were taking place.
And with everyone and their brother knowing that gold markets and prices have been manipulated for decades, a new class action lawsuit filed by two Canadian investors through three Canadian law firms is trying to blow the whistle on one of the most egregious scams going on in the gold markets today.
In a suit filed on Dec. 22 against several banks involved in the London Gold Fix, lawyers from three firms are seeking $1.1 billion in restitution for losses taken by the manipulation of gold contracts and markets.

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