by Craig Hemke, Sprott Money:
That this is even a question reveals the intellectual laziness of those who ask. However, since this is coming up with regularity again, here’s another post on the subject.
First, a summary of recent admissions and convictions against The Banks:
• LIBOR manipulation: https://en.wikipedia.org/wiki/Libor_scandal (Note the section where it’s noted that LIBOR fixing operates as a “cartel”.)
• Forex manipulation: https://www.cnbc.com/2019/05/16/eu-regulators-fine… (Again, note the use of the term “cartel”.)