China is moving closer to positioning itself as the physical gold trading hub of the world and the world’s gold price discovery centre. It is a natural progression for the largest economy in the world and for the world’s largest gold buyer, importer and indeed producer.
Gold Bust (2.8 Kilogramme) of Deng Xiaoping (Reuters/Bobby Yip) (more…)
The Battle Royale continues as the cartel has hammered gold back under $1300 once again with a last of $1293, and silver has been knocked under $19.50 to $19.45 on the first day without an official London Silver Fix.
Click here for more on the PMs raided the first day of the new electronic silver fix:
The Gold Anti Trust Action Committee (GATA) and those concerned about price manipulation will allege that the LBMA and the western bullion banks are engaged in a rebranding and repackaging exercise in order to maintain a cosy gold and silver cartel of bullion banks and ultimately control over precious metal prices. (more…)
“It lacks transparency, which means prices can be rigged to benefit banks, at the expense of producers, traders, investors, jewellers and other market participants,” “The market could return once more to such levels if the fixing system is overhauled. We believe that a more transparent and reliable fixing could lead to higher gold prices as we suspect that prices are artificially low at this time and do not reflect the delicate supply demand balance in the physical gold market … Nor do they capture the degree of systemic and geopolitical risk in the world today.” (more…)
Western banking interests have forcibly removed London gold and utilized Swiss refinement of Gold bars taken from other accounts, to rectify two decades of seized gold bars from unallocated accounts. The improper usage was done to create the entire fraudulent foundation for the Euro Monetary Union itself.
The fraud is unspeakable, and might account for over 40,000 tons of misused (stolen) gold bars. The shift is toward the East as financial center of gravity, altered by the extraordinary movement of Gold bullion from London and Swiss banking centers.
A sequence soon to unfold appears to be rather predictable, since once a key event occurs, the pressure is enormous and gathers to force the occurrence of the next event. Think like falling dominos, the pieces actual elements of a fence to defend the USDollar regime.It is falling apart. One fence section topples the next.
The barbarians are not only at the gate, they are making their own fortresses.
Click here for more on 40,000 tons of gold rehypothecated by the West in the latest Hat Trick Letter:
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Often “a picture paints a thousand words” and the seven key gold charts below should make gold bears nervous. As the charts show, such sentiment, price action and oversold conditions tend to coincide with major lows in gold and silver prices and multi month price gains. (more…)
It would likely also deal another blow to the U.S. property market and the fragile U.S. economy. JP Morgan, Bank of America and Wells Fargo appear to be the most exposed – meaning that either taxpayers will again be asked to bail out banks or more likely the coming bail-in regime will confiscate cash from depositors. (more…)