Deutsche Bank Pays $38 Million To Settle Silver Manipulation Lawsuit
2016 is shaping up as the year when countless conspiracy theories will be confirmed to be non-conspiracy fact: from central bank rigging of capital markets, to political rigging of elections, to media rigging of public sentiment, and now, commercial bank rigging of silver.
In short, tinfoil hat-wearing nutjobs living in their parents basement have been right all along.
Two weeks ago we reported that "In A Major Victory For Gold And Silver Traders, Manipulation Lawsuit Against Gold-Fixing Banks Ordered To Proceed," however one bank was exempt: Deutsche Bank. The reason why was known since April, when we first reported that Deutsche Bank had agreed to settle the class action lawsuit filed in July 2014 accusing a consortium of banks of plotting to manipulate gold and silver. Among the charges that Deutsche Bank effectively refused to contest were the following:
- employment of a manipulative device claims
- bid-rigging, and unjust enrichment.
- price fixing and unlawful restraint
- price manipulation claims
- aiding and abetting and principal-agent claims.