Bullion Banksters pay $50 million to Get Out of Jail Free

• Bullion Banksters pay $50 million to Get Out of Jail Free
  by Ronan Manly, https://www.bullionstar.com/
  This week, news emerged that the final three defendant banks in a gold price manipulation class action lawsuit had, surprise, surprise, paid to settle the lawsuit, and all claims against them will be dismissed, in essence they have bought a ‘Get out of Jail free’ card. Although a class action is not a criminal case, the ‘Get out of Jail free’ analogy from the famous Monopoly game seems apt for what we discuss below.
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  The three banks in question are some of the leading ‘usual suspects’ in the London fractional-reserve bullion bank cartel, namely Barclays, Bank of Nova Scotia (Scotia Bank), and Société Générale (SocGen). Officially a fourth defendant entity is part of the settlement, namely, London Gold Market Fixing Limited (LGLFL), the private company registered in London through which the gold fixing members conducted their daily gold fixing auctions and alleged gold price manipulations.
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  This antitrust class action dates back to 2014 and represents 18 consolidated suits which allege that a group of investment banks (all of which were members of the London Bullion Market Association (LBMA)) colluded in a conspiracy to illegally rig and manipulate the gold price by sharing real-time price information in secret meetings that set the gold price to the benefit of the member banks.
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  The settlement class (those affected by the alleged manipulation) covers anyone who sold physical gold or gold futures contracts / gold derivative instruments / gold financial instruments between 1 January 2004 and 30 June 2013 (i.e. a massive number of gold investors all cross the world) or who bought gold put options (options to sell) within the same period.
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  read more.

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