ERIC SPROTT: BANKERS MANIPULATE PRECIOUS METALS TO MAKE BONUSES!

There have been some very interesting developments in the precious metals markets. BaFin, the German regulator came out & said that the main regulator said that precious metals are manipulated worse than LIBOR and that word “worse” is a very significant word in my mind.

Then when you think about some of the chronology for BaFin, they announced in the middle of November that they were going to investigate the possible fixing of gold prices or manipulating of gold prices on the London gold fix.

On the very next day, Deutsche Bank declined to continue being a member of the fixing of the London bullion market. When you think about what must have happened, my own feeling is that the regulator probably went back to Deutsche Bank having looked at their records and said, “Do you know what your boys in London have been doing here?” And of course the next day they quit the LBMA…

If you think about manipulation, there’s only one reason in my mind that bankers manipulate things. They don’t manipulate them for the bank to make money. They manipulate them for the employees to make bonuses.

http://www.youtube.com/watch?v=pAKoBYlfwTo