| Die ganze Wahrheit über das Gold der Bundesbank |
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So it turns out us crazy conspiracists can now place a tinfoil hat upon Germany's top regulator (see below). Yup, the gold "leasing" schemes of the Western Central Banks have now been revealed to the world as the source of a huge artificial supply, which has been fed into the so-called markets for many decades to satisfy the bids of Western investors for something golden. Unfortunately it appears these orders for gold were booked, but never actually filled! There's a difference you say .. "conspiracy" they say. Remember the missing German gold? The Bundesbank was put on-hold a year ago when they rang their banker buddies in NY with instructions to deliver their bars. When they did get through they were told their gold could not be delivered, not today, or next month, or even next year, but to expect some of it over the next 7 years. Seriously! That is either one very slow boat, or maybe, just maybe, the last boat has sailed, to the land of the rising sun or the sunny shores of Arabia (where the terms "physical" and "fiat" are more clearly understood). On the bright side, some of that German order (for 674 tons) did get filled in 2013, about 5% of it, leading some Germans to conclude that the gold is "not in the possession of the offshore custodians." Ya think? The headline in Germany ... "Konnten die Amerikaner nicht mehr liefern, weil sie die bei der Federal Reserve of New York eingelagerten gut 1500 Tonnen längst verscherbelt haben?" Now take a guess at what I'm about to say next?
German Regulator: Metals Manipulation Worse Than Libor
It may be time to shift yet another conspiracy "theory" into the "fact" bin, thanks to Elke Koenig, the president of Germany's top financial regulator, Bafin, which apparently is not as corrupt, complicit and clueless as its US equivalent, and who said that in addition to currency rates, manipulation of precious metals "is worse than the Libor-rigging scandal."
Deutsche Bank Exits London Gold Fix
Deutsche Bank is withdrawing from the price-setting process for gold and silver, known as fixing, as part of its strategy to scale back its commodities business. The bank's decision comes amid investigations by German and English regulators into suspected manipulation of precious metals prices by financial institutions. Deutsche, Germany's largest bank by assets, is one of five lenders charged with controlling the London benchmark price for gold and one of three that determine global silver prices.
Turk: Massive Short Squeeze In Gold Will Be Historic
"This shortage of physical metal is enormous when fully quantified, and that is why this short squeeze could be historic in terms of the price advance. You can't create gold from bookkeeping entries. It has to come out of the ground, or from the existing above-ground stocks. But over the past two years the existing above-ground stocks have moved into strong hands. I think you will see a massive short squeeze here. This squeeze has the potential to literally propel gold over $2,000. It could get very disorderly very quickly."
China Bank Chief Shuts Door on Burned Investors!
The chairman of the Industrial and Commercial Bank of China (ICBC), the world's largest bank by assets, said Thursday that it would not compensate investors for losses related to a fund product it marketed to them. Jiang Jianqing told CNBC that the event can be considered educational, with investors learning the lesson of moral hazard in financial markets. "I believe this incident has been a very good opportunity to educate the investors, to educate the trust companies and to educate ICBC," Jiang said. In the future, he added, if customers buy "wealth management products or other products they must see clearly the risks."
Bank-Run Fears Continue; HSBC Restricts Large Cash Withdrawals
Mr Cotton says the (HSBC) staff refused to tell him how much he could have: "So I wrote out a few slips. I said, 'Can I have £5,000?' They said no. I said, 'Can I have £4,000?' They said no. And then I wrote one out for £3,000 and they said, 'OK, we'll give you that.'" He asked if he could return later that day to withdraw another £3,000, but he was told he could not do the same thing twice in one day. He wrote to complain to HSBC about the new rules. The bank said it did not have to tell him. "As this was not a change to the Terms and Conditions of your bank account, we had no need to pre-notify customers of the change."
Happy To Help ..
The incredible paper price attacks of this past year are the very best signal you'll ever get that the coming financial hurricane is closer than ever, and that physical silver an gold ownership is an absolute necessity. We currently have a healthy supply of gold and silver products, in all shapes and sizes. Please contact me for the very best pricing and discreet, informed service.
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Sovereign Exchange International Ltd.
Steven Merrill, President
www.sovereignize.net
phone:
778.835.7667
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Engage a Rich New Audience; Reconcile to your Private Account; Settle for Metal at Any Time. The Sovereign Exchange was founded by Steven Merrill and a small network of individuals from across British Columbia with a vision to embrace Austrian economic principles and provide a sound and stable payment facility than be trusted for commerce and used to store wealth.
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