UBS is a whistleblower in a new case coming up, and this time, it involves some of the same big banks that just plead guilty to Forex and LIBOR market rigging. Now, new allegations of price rigging in the precious metals market looks like they will be coming to some more big banks. That’s right, gold and silver prices are being rigged and the Justice Department is probably going to fine more bankers. Lets’ see, interest rates have been rigged, currency markets have been rigged and precious metals markets are being rigged. Are you getting the picture of how dire it must be that all markets are rigged in some way? This past week Rob Kirby said, “The markets are a crime scene.” This is not an exaggeration.
It looks like a crisis has been averted off the coast of Yemen. Iran has agreed to UN inspections of a cargo ship carrying humanitarian aid to Yemen. Iraq is not that lucky. Ramadi has fallen to ISIS. So has the ancient city of Palmyra in Syria. With these defeats, ISIS gets new equipment and tanks as they are abandoned by retreating Iraq forces.
In the latest “there is no recovery” news, look no further than the Federal Reserve. In last month’s Fed meeting, policymakers said they would not raise interest rates in June. According to USA Today it is because of “the economy’s recent sluggish performance.” There is NO RECOVERY and the Fed knows it.
Join Greg Hunter as he talks about these stories and more in the Weekly News Wrap-Up.
See the video here: https://www.youtube.com/watch?v=N4F8apleCbo