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Commodities and banks: Metal bashing

Posted on 16 August 2013

The deepening relationship between America’s judicial system and its biggest banks has reached the world of metals. The Commodities Futures Trading Commission (CFTC) has reportedly issued subpoenas to Goldman Sachs, JPMorgan Chase and others as it investigates complaints that banks and other owners of metals warehouses have been hoarding metals and driving up prices.
Private class-action suits filed in federal courts spanning New York, Michigan, Louisiana and Florida have made similar price-fixing allegations, which the banks vigorously deny………………………………………..Full Article: Source


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VRS - who has written 37241 posts on Opalesque Commodities Briefing.


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