• Sprott Money
    04/29/2016 - 05:58
    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

Guest Post: Bullion Bank Trading – A Closely Guarded Secret

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Thu, 04/07/2011 - 14:35 | 1146224 Circlehook
Circlehook's picture

Rat Bastards!  Bitchezzzzz!

Thu, 04/07/2011 - 15:17 | 1146483 nope-1004
nope-1004's picture

Fractional reserve speculation has no boundaries.  The only saving grace to my stash is that the white-collar criminals can't print physical.  They can distort ledgers, manipulate spread sheets, and lever paper promises - which they will continue to do until people demand honest accounting.

One day this jig will be up.

Thu, 04/07/2011 - 15:52 | 1146616 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Don't forget the stories about a yr or two ago where tungsten filled gold bars were popping up. This form of "forgery" will continue as physical demand heats up. But I too feel that the jig is up (for a number of reasons).

Thu, 04/07/2011 - 15:58 | 1146649 Ratscam
Ratscam's picture

A classic Rat Scam!

Thu, 04/07/2011 - 14:35 | 1146225 sheeple
sheeple's picture

Good stuff Adrian! thanks

Thu, 04/07/2011 - 15:29 | 1146527 Shell Game
Shell Game's picture

Agree, excellent investigation. Thank you!

Thu, 04/07/2011 - 15:43 | 1146582 Sudden Debt
Sudden Debt's picture

Good stuff indeed!

This could push gold to 60.000$ per ounce and silver to 4.000$ ounce

NOT TO MENTION THE HIGHER SHORTAGE IN SILVER!!

I think I'm going to let my silver tone just a bit longuer :)

 

 

Thu, 04/07/2011 - 14:36 | 1146229 Horatio Beanblower
Horatio Beanblower's picture

For the Empire, dear boy, for the Empire...

 

"Five men talk on their phones for 10 minutes or so and then lower tiny Union Jacks sitting on their desks. And that's it. The London gold fixings is complete. It takes place at 10:30 a.m. and 3 p.m., like clockwork. The same ceremony has been performed the same way, in the same place, and with mostly the same firms participating since the first gold fixing was enacted at Rothschild in St. Swithin's Lane on Friday Sept. 12, 1919."

 

http://www.kitco.com/london.fix.article.html 

Thu, 04/07/2011 - 14:40 | 1146257 ReallySparky
ReallySparky's picture

What are tiny Union Jacks?

Thu, 04/07/2011 - 14:42 | 1146287 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Little British flags.

Thu, 04/07/2011 - 14:44 | 1146302 Horatio Beanblower
Horatio Beanblower's picture

Small British flags.  For the pedants out there, the article should say Union Flags as opposed to Union Jacks.  The British flag is only called a Union Jack when it's flown on a ship.  

Thu, 04/07/2011 - 23:40 | 1148407 Milestones
Milestones's picture

Hmmm. Didn't know about the "Jack" is for ships only. Thanks.      Milestones

Thu, 04/07/2011 - 14:46 | 1146306 knukles
knukles's picture

Flags. 
Teenie, tiny, little, itty, bittie, flags of the UK.
Decorative shit on a stick that some folks, quaint folks, like to keep on their desks or trading turrets. But that's beside the point, isn't it? 
Jesus God help.  With everything else going on in this world you're asking what a fucking Union Jack is? 
Some, not all, but some of this shit does not require a Da Vinci De-Coder Ring. 

Thu, 04/07/2011 - 14:48 | 1146322 Horatio Beanblower
Horatio Beanblower's picture

Vexillphobe?

Thu, 04/07/2011 - 14:55 | 1146356 knukles
knukles's picture

Now that is quality, Horatio!
But I do now have to ask, who the fuck in their right mind would be afraid of flags?
But then again, I may have answered my own question.
And even the other one as to who would even ask that question in a public forum.

Thu, 04/07/2011 - 15:04 | 1146406 Horatio Beanblower
Horatio Beanblower's picture

Thank you, Sir.

 

Northern Ireland, where I grew up, is a hotbed of vexillphobia - http://cain.ulst.ac.uk/images/symbols/bryan0510.pdf

 

It's a funny old world.  As an aside, the Catholics in NI fly Palestinian flags and the Protestants fly Israeli flags - http://www.informaworld.com/smpp/content~db=all~content=a790416192

 

 

 

Thu, 04/07/2011 - 15:12 | 1146461 knukles
knukles's picture

Ahhah!
Indeed, spent my informative years a Yank ex-pat in the UK.  So having played Bait the Yank for so long, I've great empathy with your perspective. 

My first thought had been to memorialize St. Swithin's Lane with a retrospective upon tea (which I still favor) civility, a "Jolly good show, eh what?" and a breif Rotogravure triptick of those odd, white tiled, most unusual underground public loos that used to populate the City.  But then again, first things first.

Thu, 04/07/2011 - 15:37 | 1146568 Pladizow
Pladizow's picture

The Union Jack is where the term "Double Crossed" comes from, as the British flag is one cross layed upon a second cross.

Plays well into the gold fix conspiracy!

Thu, 04/07/2011 - 15:53 | 1146633 hardmedicine
hardmedicine's picture

newsflash: they are NOT attractive.  at least put up some that don't sag and have cow nipples.

Thu, 04/07/2011 - 16:31 | 1146796 Pladizow
Pladizow's picture

Sorry, I forget that you Americans prefer silicone.

Thu, 04/07/2011 - 14:50 | 1146335 knukles
knukles's picture

And then there's Google, too.

When in doubt,
Find it out,
Don't look the fool,
Use the tool!

Thu, 04/07/2011 - 14:56 | 1146359 Horatio Beanblower
Horatio Beanblower's picture

Good shout,

There is no doubt.

Thu, 04/07/2011 - 15:00 | 1146396 knukles
knukles's picture

When in doubt,
Just spout it out,
When mentally distressed,
Screaming's best

Thu, 04/07/2011 - 15:00 | 1146385 knukles
knukles's picture

Jesus God, there are some really uneducated people out there!
And they still get to vote, drive cars, log on to computers, and hold positions of authority and responsibility like TSA gropers.  What is going on?
The whole fucking world is coming unglued and somebody's asking about tiny Union Jacks.

Then again, I'm responding!
Time for the morning Thorazine, Ativan and Xanax enema.

Thu, 04/07/2011 - 15:33 | 1146548 Antarctico
Antarctico's picture

Time for the morning Thorazine, Ativan and Xanax enema.

Graphic and disgusting -- +1

Thu, 04/07/2011 - 15:35 | 1146553 RockyRacoon
RockyRacoon's picture

I'll admit, I was rather struck by

1. The lack of knowledge

2. The inability (laziness?) to find out

3. The confession in a public forum

Sheesh.

Fri, 04/08/2011 - 07:34 | 1149198 tomster0126
tomster0126's picture

Churchill's quote about democracy and its proven stupidity when you talk to the average voter comes to mind so quickly here.  Union Jacks, lol.  Google...plz...

Do you ever take Adderall?  I use it in combination with Emergen-C and BCAA powder in the morning, might be a little more inspiring than your downer enema bro :)

 

www.forecastfortomorrow.com

Thu, 04/07/2011 - 14:37 | 1146235 MaxVernon
MaxVernon's picture

Visit the Silver Liberation Army, and spread the word!

 

http://j.mp/f2lkxu

 

or http://silverliberationarmy.wordpress.com

Thu, 04/07/2011 - 14:45 | 1146297 erumisato
erumisato's picture

You have my axe!

Thu, 04/07/2011 - 15:04 | 1146415 mt paul
mt paul's picture

just lashed a 100 oz JPM bar to a stout stick ...

my battle hammer... 

 join the silver liberation army...

freedom .... 

Thu, 04/07/2011 - 15:18 | 1146476 SilverRhino
SilverRhino's picture

Generic Silver Rounds make good scale armor.

Thu, 04/07/2011 - 15:41 | 1146574 Occams Aftershave
Occams Aftershave's picture

We are legion.

Expect us.

(but don't expect us to come up with an original motto.)

Thu, 04/07/2011 - 14:38 | 1146241 ReallySparky
ReallySparky's picture

And when will the oil producers figure this out and demand delivery?

Thu, 04/07/2011 - 14:46 | 1146305 I think I need ...
I think I need to buy a gun's picture

They already know but do the sheeple know its going to $9.00 dollars a gallon or more in gold. gas jackings coming soon.......

Thu, 04/07/2011 - 15:36 | 1146550 Hacked Economy
Hacked Economy's picture

Too late.  Gas is already $4.25+ here in SoCal, and the natives are getting more bold.  My neighbor down the street recently had his gas tank jacked in the dead of night.  He was pretty upset the next morning, as he had just filled his tank.

I installed an anti-siphon ring in own truck so as to protect my supply of go-go juice in my tank.

And I live in a nice neighborhood....

Thu, 04/07/2011 - 16:04 | 1146671 Bastiat
Bastiat's picture

Diesels at my house.  Will suck to be them if the load up the gasser with diesel.

Thu, 04/07/2011 - 14:48 | 1146315 InconvenientCou...
InconvenientCounterParty's picture

...you have new record highs on a near daily basis.

Thu, 04/07/2011 - 15:49 | 1146609 uranian
uranian's picture

i wonder if when silver starts making new (nominal) all time highs (which looks like not more than a few weeks away, the way things are going), there will be some MSM coverage...outside of the financial press, there are almost zero stories about gold's continuing new record highs. perhaps J6P will wake up a bit when silver hits 50$? i'll not hold my breath on that, but it could mark the beginning of the mania phase.

Thu, 04/07/2011 - 14:37 | 1146249 linrom
linrom's picture

Gold backed fiat--the bankers own all the gold. The joke is on you!

Thu, 04/07/2011 - 14:53 | 1146354 InconvenientCou...
InconvenientCounterParty's picture

snarf..gurgle. Ouch. diet coke burns the sinus.

Thu, 04/07/2011 - 14:39 | 1146250 NOTW777
NOTW777's picture

obama content to burn it to the ground

Thu, 04/07/2011 - 15:43 | 1146577 RockyRacoon
RockyRacoon's picture

Hey, you.   Yeah, you.  Back there in the back of the crowd with your hand up.  

You simply say, "obama content to burn it to the ground".   No proper punctuation used.

You got our attention and that's all you gotta say?  Put your hand down and be quiet.

Thu, 04/07/2011 - 14:39 | 1146269 espirit
espirit's picture

Tax them bitchezzz! 

Thu, 04/07/2011 - 14:41 | 1146270 suckerfishzilla
suckerfishzilla's picture

Even if PSLV is on the up and up I never understood the mindset of investors who did not want to hold their own inventory.  "Would you hold this for me Uncle David?"  It is difficult to come to loathe the paradigm.  After all if you indeed have been taking physical possession of Gold and Silver this all plays right into your greedy little hands. 

Thu, 04/07/2011 - 14:43 | 1146281 DoChenRollingBearing
DoChenRollingBearing's picture

This will not end well.

Thu, 04/07/2011 - 14:51 | 1146343 Ruffcut
Ruffcut's picture

Guess what, the bullshit just never ends.

Thu, 04/07/2011 - 14:57 | 1146368 InconvenientCou...
InconvenientCounterParty's picture

life is a journey, not a destination.

Thu, 04/07/2011 - 14:42 | 1146289 Josh Randall
Josh Randall's picture

Tungsten is the Word, as opposed to Bird

Thu, 04/07/2011 - 15:59 | 1146644 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Yep. It also appears that Unallocated = Unsecured (or rather Precious Vapor-Metal)

Thu, 04/07/2011 - 16:23 | 1146759 Long-John-Silver
Long-John-Silver's picture

The Ferengi (Star Trek) raided Ft Knox in the Year 2525 and discovered it will filled with Gold Plated Tungsten. They immediately assumed it was the most precious material in the Universe due to the extreme measures taken to protect it. They could find no reference at to it's purpose and so it's sole purpose must be a store of wealth. They called it Gold pressed latimum. Little did they know it was simply counterfeit fiat Gold.

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