Newmont sells Ontario mine to Orla for $850 million
The addition of the Musselwhite mine to its portfolio more than doubles Orla Mining's gold output to 300,000 ounces per year.
The US Department of Justice is investigating possible price manipulation of gold, silver and other precious metals, certain crude oil benchmarks and US government bonds following similar cases against Wall Street’s biggest financial institutions reports Bloomberg’s Keri Geiger.
Firms including the likes of JPMorgan Chase, Citigroup, Royal Bank of Scotland, Barclays, Deutsche Bank and Switzerland’s UBS Group have recently pleaded guilty and paid fines worth billions of dollars over manipulation of foreign currencies, interest rates and other lines of business:
“At this point, whatever the facts are regarding this, the government is in a strong position thinking that where there’s smoke, there’s fire,” said Jill Fisch, a professor at University of Pennsylvania Law School. “It’s not just one investigation after another, it’s one scandal after another.”
5 Comments
klgmac
Maybe when the politicized DOJ is finished here, they can investigate the Fed for manipulating interest rates. What’s that you say? It’s OK when the government manipulates prices? It’s because the Central Planners are so smart right?
nobody24
do THEY pocket the “profit” ? Does the DOJ personally gain? In private sector finance, they DO personally gain, while dimwits like you pay.
nobody24
…until someone PERSONNALLY pays with jail time, this is all a bunch of crap window washing. Boards of Directors, and CEOs need jail time regardless of who in their org, is responsible. If a CEO goes to jail, this crap will be stopped internally, regulation and miniscule fines, relative to profits, has not, does not, and will not EVER work.
WildRider
apparently everybody knows that manipulation has been taking place for years in the precious metal market and more particularly the silver market …. everybody but the US department of justice it seems!
Of note, the recent billion fines given to these guilty too big to fail institutions, haven’t led to any prosecution as far as we are aware. Meanwhile these fines just end-up being paid by the tax payer and the investors. What’s not to like?
Our governments are very quick to dismiss truth and justice seekers as ‘conspirationists’ but, we can clearly see that these emperors have no clothes.
tick… tock ….
Clausen Binder
Someone laughed about the fines. Yes, they fine the companies, they pay the government, then the government turns the money around, and then the government offers the money back to the same companies for next to nothing…