Anyone with REAL trading experience in size knows that the banks as market-makers have ALWAYS traded against the client. This is TRANSACTIONAL banking rather than RELATIONSHIP. It does not matter what the market may be from currency and interest rates to metals and commodities. They will front-run and deliberately try to run stops on either side. This is the typical manipulation that impacts every market in which they deal. However, trying to transform that into SYSTEMIC MANIPULATION, which implies the suppression of a market perpetually, is gross exaggeration that honestly is very suspect.

One way to discredit a truth is to exaggerate it. For example, to hide secret military experiments using magnetic engines one need only turn that into aliens and then take it all the way to alien abductions. You have changed the subject and discouraged any viable investigation that would have uncovered secret technology.

This is the very same problem with manipulations. Of course the banks trade and they trade AGAINST clients for their model is TRANSACTIONAL and that incorporates quarterly-performance and annual bonus time. There is ZEROincentive to perpetually and systemically suppress a market for there would be no profit taking and that defeats the entire bonus structure.

So do not get carried away and keep the manipulation accusations accurate. The banks front-run, clip, and rig the game on a TRANSACTIONAL basis. They do not perpetually maintain positions to suppress some market with no profit taking for years on end. There is a HUGE difference and the former can be proven in court whereas the latter will never be proven and they walk away.

So yes – I distrust ANYONE who claims there is systemic manipulation for that is a get out of jail free card for the banks and I would suspect that anyone spreading that extreme nonsense may be paid under the table to protect the banks. It just smells funny. Why go that far when if there would EVER be a REAL investigation, you are guaranteeing it will fail. This supports the banks maintaining TRANSACTIONAL banking, which they used to repeal Glass-Steagall.

Martin Armstrong