With formal investigations and oversight now occurring, and with Deutsche Bank’s resignation, the move to close down the silver fix is implicit confirmation that the London gold and silver markets are rigged. Although the gold fix should be shut down as well, and both immediately, I believe that the western Central Bank/bullion bank cartel has no choice but to keep the gold fix going.
The LBMA can do nothing to hide the deep red Scarlet Letter of admission which now marks the London gold/silver fix, which is perhaps why the news announcement came with no explanation. To be sure, this event has also added confirmation to anyone with remaining doubt about the corrupt and rigged nature of the western precious metals markets.
By PM Fund Manager Dave Kranzler;
Unexpectedly, the LBMA announced early Wednesday morning that it would be closing down the daily silver price-fixing, effective August 14. While I’m sure the Ross Normans and Bron Sucheckis of the world will issue some kind of absurdly puerile rationalization full of empty rhetoric and shameless propaganda for this event, it is an unmistakable acknowledgement that the London precious metals price fix is rigged.
Recall that Deutsche Bank recently gave up its seat on the price fix committees of gold and silver after trying hard to find a buyer for the position. No bank wanted the seat because they all know that it comes with billions in potential liabiity. The last time a gold fix seat changed hands, the Rothschild banking cartel sold its seat to Barclays for $1 million. The Rothschild organization, which had been part of the fix since it was formalized in September 1919, offered no explanation for its sudden withdrawal from the fixing.
With formal investigations and oversight now occurring, and with Deutsche Bank’s resignation, the move to close down the silver fix is implicit confirmation that the London gold and silver markets are rigged. Although the gold fix should be shut down as well, and both immediately, I believe that the western Central Bank/bullion bank cartel has no choice but to keep the gold fix going. I suspect that short of an eventual default and collapse of the LBMA – just like the London Gold Pools of the 1960′s defaulted and collapsed – will prevent the corrupt banks from maintaining the rigged gold fix.
WIth that in mind, however, the LBMA can do nothing to hide the deep red Scarlet Letter of admission which now marks the London gold/silver fix, which is perhaps why the news announcement came with no explanation. To be sure, this event has also added confirmation to anyone with remaining doubt about the corrupt and rigged nature of the western precious metals markets.
