Is forex market controlled by someone? - page 24
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i think the forex market is controled by us and by ask and bid and banks economy
TOTALLY right sir, US is really hypocrisy to anything in this world. They manipulate media in order to reach their goal. all their media around the world is baseless and very contrary to the fact. it makes the marketers change their opinion and its investment.
Ex-Rabobank trader second to plead guilty to Libor rigging
A former senior trader at Rabobank pleaded guilty on Monday to participating in a scheme to manipulate the yen Libor rate, becoming the second employee of the Dutch-based lender to admit guilt in a US investigation into alleged manipulation of interest rate benchmarks worldwide.
Paul Robson, a British citizen who also submitted Rabobank's rates used to calculate the London InterBank Offered Rate for the yen, conspired to manipulate the submissions to benefit trading positions between 2006 and 2011, the US department of justice said.
Robson entered his plea before the district judge, Jed Rakoff, in Manhattan to one count of a 15-count indictment he had faced. Justin Weddle, a lawyer for Robson, did not immediately respond to requests for comment.
In June, Takayuki Yagami, another former senior trader at Rabobank, became the first to plead guilty to having a role in the scheme.
"The scope of the fraud was massive, but the scheme was simple. By illegally influencing the Libor rates, Robson and his co-conspirators rigged the markets to ensure that their trades made money," Leslie Caldwell, who heads the justice department's criminal division, said in a statement.
Rabobank agreed last October to pay $1bn to resolve US and European inquiries into Libor manipulation. This included a $325m criminal penalty for the Dutch bank and a deferred prosecution agreement with the justice department.
Libor, which is calculated based on submissions for a panel of banks, underpins hundreds of trillions of dollars of transactions, and is used to set interest rates on credit cards, student loans and mortgages.
US and European regulators have been investigating whether banks tried to manipulate the rate to benefit their own trading positions. Nine people, including Robson, have been charged.
Robson worked as a senior trader at Rabobank's money markets and short-term forwards desk in London, and also served as the bank's primary submitter for the yen Libor calculation, the justice department said.
He routinely used that position to submit rates requested by Yagami and other traders, prosecutors said.
In 2007, for example, Yagami asked Robson by email for a high submission for one of the rates, and Robson answered: "No prob mate, let me know your level."
After Yagami made his request, according to the justice department, Robson confirmed: "Sure, no prob … I'll probably get a few phonecalls but no worries mate … there's bigger crooks in the market than us guys!"
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I got a feeling that this time all is out of our hands
Deja Vu - Someone Tell The Gold-Manipulating-Machines The Market's Shut
Just 3 months ago, as Americans celebrated Memorial Day, the spot price of gold jerked $20 higher (then plunged) as gold futures closed. Today, as Americans celebrate Labor Day, the liquidity-less market for spot gold just dropped $6, ripped back and settled lower in the space of a few minutes (with bids and offers fully crossed for a few minutes) as someone clearly forgot to tell the machines that the market is closed...
Makes perfect sense...
as bids and offers crossed...
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Unrigged markets for all... because nothing says "Sell Gold into an illiquid market" like NATO preparing to launch an offensive against Russia who 'everyone' now cliams is fully invading Ukraine...
* * *
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The idea that someone can control the FX market is regularly discussed among traders especially beginners who are faced with the fact that the market is moving quite often in the wrong direction than they expected.
Forex is the same market as all other financial markets, including exchange markets, it is possible in theory to manipulate the market and it can sometimes happen.
However, FX is the most global and liquid market in the world, and thus it is very difficult to manipulate or fully control this market than any other market in the world. So if you trade at FX you can be shure that the most of market movements are caused by objective factors and not by somebody's manipulations.
The market is manipulated rather than controlled. There are trap moves designed to get you committed in the market too early and in the wrong direction before the trend starts. If you can spots these moves when they happening some losses can be avoided.
What's The Point Of Hiding It Any Longer?
Compare and contrast.
From the Chicago Mercantile Exchange 2012 10-K:
Customer Base
Our customer base includes professional traders, financial institutions, institutional and individual investors, major corporations, manufacturers, producers and governments.
And from the Chicago Mercantile Exchange 2013 10-K:
Customer Base
Our customer base includes professional traders, financial institutions, institutional and individual investors, major corporations, manufacturers, producers, governments and central banks.
And there you have it, but in case anyone is still confused, here is some more:
At this point why even pretend there is a "market"? The "market", and by "market" we mean stocks - it has long been known that central banks actively trade bonds, FX and commodities - is whatever central banks say it is.
Finally, if central banks are going to be rigging the market as they now conclusively are on a daily basis, perhaps they can disclose ahead of the trading day start to everyone, and not just the primary dealers, what the closing S&P 500 price for any given day is.
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Most times the actions of the banks and large institutions are visible on the charts. The thing is markets do not move on their own and hence thats where the banks come in. However, trading is like a card game, you might have to wait until there is enough of the other players hand on display before entering the market in the right direction. I'm not talking about corruption or shady practices to swindle traders as this is a symptom of all markets and hopefully regulators are putting our interests first.
Central banks are customers !!!!!!
Whose money are they using to do what they do? Thieves
True, but that how they have always made their money. It's just that in recent years lots more money and traders have entered the market and they use more aggressive methods to hit their target.