19 Jun '13, 10pm

What an ad for #bitcoin! lol Everything is Rigged, Vol. 9,713: This Time, It's Currencies via @mtaibbi

What an ad for #bitcoin! lol Everything is Rigged, Vol. 9,713: This Time, It's Currencies via @mtaibbi

A foreign exchange banker. Chung Sung-Jun/Getty Images I'll get into this in more detail later (I'm on deadline for a magazine feature), but this story just landed. Given the LIBOR story , the Interest Rate Swap manipulation story , the Euro gas price manipulation story, the U.S. energy price manipulation story, and (by now) countless others of the "Everything is Rigged " variety, this screams out for immediate notice. Via Bloomberg : Traders at some of the world's biggest banks manipulated benchmark foreign-exchange rates used to set the value of trillions of dollars of investments, according to five dealers with knowledge of the practice . . . Employees have been front-running client orders and rigging WM/Reuters rates by pushing through trades before and during the 60-second windows when the benchmarks are set, said the current and former traders, who requested anonymit...

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