J. Scott Nicholson and Price of Silver

price of silver: In a court case filed in New York southern district Monday, J. Scott Nicholson filed suit against the three banks for allegedly rigging the price of silver and in the process, making money at the expense of smaller investors. , according to Canadian Broadcasting Corporation, CBC. "The nature of the system creates an environment that is highly susceptible to manipulation and collusion," the lawsuit alleges. "The call itself is completely secret. There are no outside observers, and no recordings have ever been released. There is no regulatory body that oversees the auction process or verifies the data submitted by defendants." The Bank of Nova Scotia, along with Deutsche Bank and has been accused of fixing the price of trillions of dollars worth of silver. Unlike stocks which are priced based on supply and demand in individual stock markets, for more than a century the price of silver has been set by major international financial institutions, including the defendants, who set the quoted price on a conference call every day. Royal Bank accused of price fixing in probe (news.financializer.com). As reported in the news.