HSBC, Bank of Nova Scotia & Deutsche Bank Win Dismissal of Silver Price Manipulation Litigation

JP Morgan is now sole custodian of SLV ETF

The litigation began in 2014 with the government accusing the banks of being involved in a multi-bank trading conspiracy to manipulate the price of silver. On Monday, U.S. District Judge Valerie Caproni in Manhattan dismissed the case against HSBC and Bank of Nova Scotia. In 2016, Deutsche Bank settled with the government for $38M in … Read moreHSBC, Bank of Nova Scotia & Deutsche Bank Win Dismissal of Silver Price Manipulation Litigation

Why Many Prefer Silver Over Gold When Investing in Precious Metals

More people are buying precious metals as a store of value to hold in lieu of cash.

There are a lot of reasons why silver is superior to gold, beyond the most obvious.

Although silver is up over 100% since the start of the pandemic, most believe there is much more upside potential with silver relative to it’s current value.

Zimbabwe Sells $14 Million in Gold-Backed Digital Tokens

Zimbabwe 1 oz gold coin

The token’s initial offering is backed by 140 kilogram gold bars that have been allocated from central bank reserves

The offering from Zimbabwe is causing a ruckus with the IMF that is reminiscent of the outrage posited against El Salvador when it established bitcoin as a legal currency and began issuing bitcoin bonds.

Investors Losing Confidence in the US Mint, while Coin Minting Reports $171 Million Net Loss

Keeping up with investors demand has been a difficult task for the US Mint. The pandemic lockdowns caused a total shut down of mint operations, forced mine closures and caused other widespread disruptions throughout industrial supply chains.

Problems for the Mint only got worse as investor demand for bullion investment coins skyrocketed because of the pandemic. For a few months, the minting of Silver Eagle coins was secretly shifted to the Philadelphia Mint for the first time in history as backorders began to pile up.

Texas Committee Passes Bill To Create 100% Gold And Silver-Backed Transactional Currencies

cheap silver prices

Legislators in Texas are leading the charge against the Federal Reserve’s monopoly on fiat money by offering an option for people to conduct business in sound money.

Physical gold and silver that would support the backing of the digital currency would be stored in a pooled account at the Texas State Bullion Depository.