You have to love our asleep-at-the-wheel regulatory establishment. When they’re not too busy on their resumes for their next stint at one of our finer
bailed-out welfare queens banking establishments or white shoe law firms, there is at least the appearance of pretending to give a shit that virtually every aspect of our financial markets are rigged. Whether it’s LIBOR, energy markets, ISDAfix, metals, or anything in between, the evidence of fraud and manipulation is now the overwhelming theme of modern banking and the bailed-out establishment.
Now it appears the Justice Department has opened a criminal investigation of “possible” manipulation of the $5.3 trillion-a-day foreign exchange market. The probe is apparently coming months after the U.K. FCA said it was reviewing potential manipulation as early as June of this year. Hey Justice Department, while you’re at it, take a look at this one too. For anyone who still has their head in the sand, the comical farce that is advertised as a free market is anything but. But we can rest assured that the regulators are “looking into it”. LOL!
The gold market was NASDARKed for 20 seconds after this hit yesterday, but it was just one of several
criminal hit-and-run market events during the last month…