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Tonya Harding Explains Gold’s “Flash Crash”
Gold price manipulation is back in the form of a “flash crash“; below we skate through its details and ask: “Why now” and “how’s it done?” Many may remember figure skater Tonya Harding and the infamous pre-Olympic kneecapping of her competitor, Nancy Kerrigan, in 1994. The scandal was simple: If there’s a stronger athlete on the rink who frightens you, “then take em out.” Such nefarious deeds may seem unusual, but in the rigged arena of central-bank markets and derivative price fixing, this kind of desperate behavior is, well…par for the course. When it comes to rigged markets, we’ve written ... (full story)
