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By Tyler Durden

Submitted by Allan Flynn via ComexWeHaveAProblem blog,

As it goes in silver, so it goes in gold. In London at least.

In a bid to have UBS reinstated as a defendant in a London Gold Fix antitrust lawsuit, plaintiffs documents submitted to a New York Court last week include explosive chat room transcripts of UBS and traders from different banks encouraging each other to “push,” “smack,” and “whack” gold prices.

The transcripts are equally as startling as those described of banks of the London Silver Fix and UBS given to the court the previous day and described last week in this article.

On December 6th attorneys for plaintiffs in a consolidated class action against banks of the London Gold Fix and UBS, asked the court for leave to amend with a Third Amended Complaint. The TAC includes additional facts based on a “limited set of cooperation materials” produced by former defendant Deutsche Bank, as part of a settlement agreement and further statistical analysis.

Supporting documents say the amended complaint addresses the Court’s October finding that the previous complaint failed to plausibly plead firstly that UBS was part of the antitrust conspiracy, and secondly that the conspiracy existed prior to 2006.

Also, for the first time a gold producer has been added to the class action of those claiming losses in gold trading due to the manipulation. Compania Minera Dayton, SCM the Chilean subsidiary of Australian resources company Lachlan Star is said to have “sold gold on many of the specific days on which Plaintiffs demonstrated manipulation of gold investments” totaling $287.4 million over the period 2004 to 2013.

In support of allegations that UBS shared customer order information and executed coordinated trades to manipulate gold markets, samples of “dozens” of chat room messages between UBS and Deutsche Bank are contained in the revised document indicating “many efforts to artificially suppress gold prices, and to manipulate gold prices at the time of the Fixing.”

Filings include the following script reminiscent of an 1980’s arcade game scene. Rather than competing for business in the marketplace, supposed competitors UBS and Deutsche Bank however are seen coordinating tactics as they anticipate the most illiquid of days to jointly execute their sell orders for greatest negative impact on the market.

Deutsche Bank: bro japan holiday today

Deutsche Bank: think it’ll be quiet

Deutsche Bank: well, illiquid, not quiet haha

Deutsche Bank: illiquid means wild wild west

UBS:okay when gold pops 1430

UBS: we whack it

UBS: u sell your 50k

UBS: i sell my 20k

UBS: then we double that up and produce our on liquidity too

UBS: that should be enough to cap it on a holiday

Deutsche Bank: haha yeah

Deutsche Bank: lol

One chat see's a Deutsche Bank trader confirming with a UBS trader his trading had indeed influenced the Gold Fix: “u just said u sold on fix.” The UBS traded replied “yeah,” “we smashed it good.”

The secret associations between traders appear to be close knit, with the members willing …read more

Source: "When Gold Goes Above 1430 We Whack It"

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By Tyler Durden

Update: moments after the original post, Trump has corrected his spelling error in a follow up tweet which, correctly, accuses China of engaging in an “unprecedented act” by seizing the US naval drone.

China steals United States Navy research drone in international waters – rips it out of water and takes it to China in unprecedented act.

— Donald J. Trump (@realDonaldTrump) December 17, 2016

Irrelevant spelling mistakes aside, China’s drone seizure is likely a signal to President-elect Donald Trump that it won’t take his phone call with Taiwan lightly, an expert said on Friday. “Knowing Chinese military officials for many years and how orders are communicated from the highest power centers in Beijing down to commanders on the ground or water, this was very likely a highly planned and escalatory move to show China will not take matters lightly when it comes to President-elect Trump’s phone call and comments on Taiwan, or Chinese actions overall,” said Harry Kazianis, director of defense studies at the Center for the National Interest.

The ball is now in Trump’s court if he wishes to further escalate.

* * *

Following yesterday’s biggest, market-moving geopolitical event, in which a US oceanographic vessel had its underwater drone “stolen” by a Chinese warship “literally right in front of the eyes of the American crew”, we predicted that everyone would be eagerly waiting for Trump to chime in on the topic, and further escalating the diplomatic spat between the two nations which now involves China confiscating US marine drones, the first of its kind seizure in recent history:

everyone F5ing the @realDonaldTrump page

— zerohedge (@zerohedge) December 16, 2016

21 hours later, it finally happened, when the President-elect used his favorite social media outlet to Tweet that “China steals United States Navy research drone in international waters – rips it out of water and takes it to China”, an act which he called “unpresidented.“

… and as a result, the social media response has been more focused on Trump’s spelling, than his outrage:

I know it’s trivial & probably helps Trump when people hype things like this, but it’s genuinely shocking he thinks it’s spelled this way pic.twitter.com/Mkw0J4Fqfd

— Glenn Greenwald (@ggreenwald) December 17, 2016

Still, as tensions runs high between the two superpowers, and as some wonder if Trump will do anything else in retaliation besides being confined by Twitter, China’s act confined merely there was some signs of de-escalation, after China said on Saturday that Beijing and the US are using military channels to “appropriately handle” the seizure by the Chinese navy of a U.S. underwater drone in the South China Sea, and a Chinese state-run newspaper said it expected a smooth resolution. The drone was taken on Thursday, the first seizure of its kind in recent memory, about 50 nautical miles northwest of Subic Bay off the Philippines, just as the USNS Bowditch was about to retrieve the unmanned underwater vehicle (UUV), U.S. officials said.

“It is understood that China and the …read more

Source: Trump Slams Chinese Seizure Of US Drone, Calls It "Unprecedented Act"

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By Tyler Durden

Submitted by Duane via Free Market Shooter blog,

On Thursday, December 1st, Yasmin Seweid was allegedly assaulted by Trump supporters in NYC. According to BuzzFeed and the NY Daily News, the attack took place at the uptown 6 train stop at 23rd Street in midtown Manhattan. The assaliants allegedly called Seweid a terrorist, broke her bag strap, followed her when she tried to get away from them, and tried but were unable to pull her hijab off of her head.

Both Tamerra Griffin and Ben Kochman, the authors for BuzzFeed and the NYDN stories, did not include any additional sources for their story, other than Seweid’s personal account and a statement from police that the “investigation was ongoing” with no further comment. It seems both read her Facebook post recounting her story (which has since been removed), and after speaking with her, they took it and her account of the incident as fact, without verifying her story anywhere else. Even though Seweid was their sole source for the story, they didn’t even bother to include the word “allegedly” as I did in italics above. The NY Daily News said Seweid stated the following:

They kept screaming Trump’s name at her, and then said, “Oh look, a (expletive) terrorist,” she said.“ Get the hell out of the country!” they yelled during the train ride. “You don’t belong here!”

When Seweid ignored them, they pulled on her bag to get her attention and the strap broke.“That’s when I turned around and said ‘can you please leave me alone,’ and they started laughing,” she said. She walked to the other end of the train, and they followed her and tried to pull off her hijab, a head covering worn by Muslim women.“ Take that thing off!” they hollered.

“I put my hand on top of my head to hold it,” Seweid said. “Then I turned around and screamed ‘what the (expletive).’ ” Seweid got off the train at Grand Central Terminal on E. 42nd St. and reported the terrifying incident to police.

Her father, Sayeed Seweid, 55, of New Hyde Park, L.I., said he was also angry that no one else stepped in to defend his daughter.“ Nobody even offered to help an 18-year-old girl,” he said. “That means something. Her phone was dying. You offer help — it doesn’t matter the race, religion, or the country.”

Yes, in overwhelmingly “accepting” and liberal NYC, which voted 87% for Hillary Clinton and 10% for Donald Trump, a Muslim woman was attacked by Trump supporters on a subway platform directly under the Credit Suisse building in a very safe part of Manhattan. Not only that, no one stepped in to help, and even more surprisingly, no one recorded the incident and splashed it all over social media. And no police officer was able to readily verify her account to reporters with confirmation from the vast network of surveillance cameras that are omnipresent in NYC.

The …read more

Source: BuzzFeed And The NYDN: Click-Bait Headlines, False Stories, And Virtually Nonexistent Retractions

    

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