Now that the price-fix dam has broken and Deutsche Bank has in effect agreed to turn on its fellow commodity-fixing bankers, it’s certain that countless discussion between aggrieved traders and investors and their lawyers will result in a flood of costly litigation chocking Wall Street and City of London banks and their Continental co-conspirators. Interestingly, this ought to unblock the blockage in gold markets worldwide just as China, obviously fed up with the Wall Street gold price games, has created a Shanghai Gold Market intended to replace London and New York under quite different rules. This could well be the dawn of a new golden era, literally and figuratively.
Deutsche Bank, Germany’s once-respected giant bank, has admitted being a party–together with a cartel of major Wall Street and select other international banks–in deliberately manipulating the price of gold over a period of years. As well, the German bank, in a court settlement with litigants in a US court, has agreed to name the names of other big banks involved in the criminal enterprise. As this drama unfolds in coming weeks and months, the world may well see the price of gold soar to new heights to reflect the true global market demand. This is huge.
by F WIlliam Enghdal, NEO:
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