Billions in fines – No one blinks an eye

KWN weekly – Nov 14, 2014

Greyerz: “Eric, I’m looking at the latest round of rigging of markets by banks around the world. This has now led to fines of over $4 billion for rigging the Forex markets. You have banks like Citi and JP Morgan paying $1 billion each. UBS is paying $800 million and HSBC a bit less. But that’s just the latest Forex rigging and it’s probably only scratching the surface. We have also seen another $6 billion of fines for LIBOR rigging. So far in 2014 we have seen $56 billion of fines by U.S. regulators against the banks. It seems incredible that these enormous sums can be paid by the banks without the banks going under…

About:

  • Billions, and no one blinks an eye
  • West vs East
  • The Swiss National Bank

Click here to read the Nov 14 interview

Egon von Greyerz
Founder and Managing Partner
Matterhorn Asset Management
Zurich, Switzerland
Phone: +41 44 213 62 45

Matterhorn Asset Management’s global client base strategically stores an important part of their wealth in Switzerland in physical gold and silver outside the banking system. Matterhorn Asset Management is pleased to deliver a unique and exceptional service to our highly esteemed wealth preservation clientele in over 70 countries.



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