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Manipulations & Exaggerations

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QUESTION: Why do you say the banks do short-term manipulations but not constant manipulations?

ANSWER: Because it is absurd. There is no profit in perpetual manipulation. Every single manipulation they have ever done in the metals has been to the upside because they know it is easier to get people to buy. This is all a CONSPIRACY theory, as they claim these players continually suppress the metals, which gives them PERFECT cover for such an allegation cannot be proven in court. Exaggerate what they do and you hide the truth about reality. You will NEVER prove in a court of law in any country perpetual suppression of a market. Keep those allegations up and they can do the short-term plays and get away with it because people exaggerate what they are doing.

The LIBOR scandal is another one. There was no “manipulation” to keep rates at some specific level. It was a manipulation to clip people all the time for moving up and down. People were short in the ruble futures in 1998. They then claimed the settlement was based upon cash that the banks rigged. So if you were short against the banks at settlement you lost money, despite being up heaps. They rigged the cash price to prevent a loss on the futures.