There have been past complaints about alleged contriving of pricing of world- wide interest rates, in the particular case of the Libor rate. I have discussed this fully in the past.
But the Libor interest rates are relatively hard to manipulate because of the way they are composed from many sources and are averaged with extremes omitted.
There are other important pricing, such as gold and precious metals, which must be arbitrarily set; that appears to be perfectly acceptable to critics of the financial community.
The so-called London Gold Fix is set up by five members of the London Gold Pool twice a day. It’s a relatively thinner market where the heavy movers can be big countries such as China and India who deal heavily in gold.
Other precious metals market are even thinner.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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