Gold has long been a cornerstone of financial systems, with central banks influencing its market through direct intervention and price manipulation. This relationship dates back to the gold standard when currencies were tied to gold reserves. Although the gold standard ended in the 20th century, gold's importance persisted, especially after the 1971 Nixon Shock, which severed the dollar's link to gold.
Over the years, allegations of gold price manipulation have emerged, involving several high-profile cases against major financial institutions. Notably, Deutsche Bank, HSBC, and Barclays faced accusations of conspiring to manipulate the London Gold Fix from 2004 to 2013, misleading investors and regulators by artificially adjusting prices. Investigations revealed significant deceit within the market, resulting in substantial regulatory fines and settlements. Similarly, in 2020, JPMorgan Chase agreed to pay $920 million to settle charges of manipulating precious metals markets through spoofing.
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Credit: Liberty and Finance
Gold Revaluation Could SHOCK People | Andy Schectman
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