Deutsche bank fined for manipulating the silver price

Life does not get any better for Deutsche Bank. Only weeks after being fined $14 bn for mis-selling mortgage-backed securities in the U.S. The German lender has agreed to pay $38 million to settle litigation allegations that they conspired to manipulate silver prices.

Importantly, as part of the settlement Deutsche bank has agreed to blow the whistle on other banks that conspired to manipulate the price. After years of speculation, it appears as though the gold and silver bugs where right all along.

Hopefully, this case will now open the flood gates to a series of class action lawsuits against the world’s largest bullion banks.