What is set in London by a small group of relatively unknown individuals, affects wealth as a benchmark of value around the world, is tracked by the US Federal Reserve and the financial system, and may have been subject to manipulation by some of the big Banks, with the silent acquiescence of the government and their central banks?
Given recent revelations one would likely answer LIBOR, but an equally correct answer might be gold.
The St Louis Fed has added six daily gold prices in their FRED database. The prices are all from the LBMA.
They are the AM and PM gold price fix in Dollars, Euros, and Pounds.
These Six Daily Gold Prices Added to FRED
Given the rather opaque and somewhat quixotic nature (100:1 leverage and volumes in excess of world production) of the trading at the LBMA, it would not surprise one at all if the gold price has its analogue in the LIBOR price-fixing scandal.
