Silver traders mafia
Dec 09, 2016
Deutsche Bank has been under investigation for a long time. Now they have turned over to investigators “more than 350,000 pages of documents and 75 audio tapes,” including emails where they call themselves “mafia” when it comes to manipulations in the silver trades.
On April 1, 2011, they even wrote to other traders that were part of this mafia: ‘if we are correct and do it together, we screw other people harder.”
Lawyers representing traders who allege they were ripped off by a group of colluding global banks filed eye-popping evidence in a Manhattan Federal Court yesterday showing that even as global banks were being criminally probed for rigging currency markets, they continued to engage in rigging the silver market, with a UBS trader referring to the group as the “mafia.”
In order to settle the charges against it in the matter, yesterday’s filing shows that the beleaguered Deutsche Bank turned over to the plaintiffs’ attorneys “more than 350,000 pages of documents and 75 audio tapes” that implicate other banks in a very serious way.
Sooner or later, the bankers mafia will be forced to stop suppressing the price of silver. When that happens, the price will probably head up to $200/oz or even much more than that.