Opinion: Global Foreign Exchange Manipulation Affecting Real

Opinion, by Leonardo Wetzel

RIO DE JANEIRO, BRAZIL - The U.S. Department of Justice recently revealed that several banks, including five of the world's major banks (Barclays, Citibank, JP Morgan, Bank of America, UBS, Royal Bank of Scotland and more) were involved in the manipulation of global currencies exchange and interest rates including the Brazilian real.

The banks were imposed US$5.7 billion fines by the U.S. Department of Justice after pleading guilty to antitrust violations. They allegedly worked together to enhance their profits by manipulating the US$5-trillion-a-day foreign exchange market to US . . .

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