Caption Contest: If Gold Is Broken, They "Fix" It

Tyler Durden's picture

Much has been written recently about the rigged London "gold fixing" process, during which, as even Bloomberg recently covered, the price of gold is blatantly manipulated. One thing was, however, missing: a photo of the fixers in practice. Today, courtesy of German WiWo, we show just what said "fixing" looks like in real life every single day.

h/t @DrGideonGono

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hedgeless_horseman's picture

 

 

Haha!  They have to wear a coat and tie, listen to that old clock tick, and stare at those ugly assholes all day while commiting fraud.

No salary is large enough for that!

You only live once.

smlbizman's picture

than buy buy buy....than sell sell sell...r.i.p. rodney..

hedgeless_horseman's picture

 

 

Caption contest:

Much has been written recently about the rigged New York "POMO" process, during which, as even Bloomberg recently covered, the price of US Government Debt is blatantly manipulated. One thing was, however, missing: a photo of POMO in practice. Today, courtesy of the NY Fed, we show just what said "POMO" looks like in real life every single day.

giggler321's picture

One thing I never understand about dogs; they have such a strong sense of smell and then they go sticking their sensor right in the source, so strange.

kito's picture

no different that the fed. no one can argue that they are imbued with strong intellect, grasping myriad computer modeling concepts, yet they go sticking their brains in the ass of misguided economic policy. 

john39's picture

intentional fraud is a different thing altogether than negligence and stupidity.

kito's picture

yes and no. these fellows at the fed were indoctrinated early on at the "finest" business schools in the country. i doubt one of these schools offers up anything other than standard keynesian fare.

john39's picture

even with indoctrination, they are smart enough to know that what the FED is doing is probably illegal, and certainly detrimental to the vast majority of average people.  I suspect that they go along with what their superiors tell them because they feel like part of the ruling elite... doing what they do for the greater good of humanity, with their own positions at the top and ruling the lawless masses.    someone has to rule, right?  in otherwords, psychopaths.

Pladizow's picture

"So how much fiat you guys wanna skim today?"

Al Huxley's picture

"As much as we can get away with, same as always".

DoChenRollingBearing's picture

Gold...  I just placed my FIRST order for gold paying with Bitcoin.  More information later, either I get it (or I will be proven a fool in public).  

I will let you know the truth.

Tegrat's picture

There's one gold broker I know of that accepts BTC for AU and they charge a premium for the service. The benefit is that theoretically you can buy AU from a wallet created in the farthest regions of uganda, however the source blockchain will go to a tracable account.

 

 

The Alarmist's picture

We're Smart Patrol, nowhere to go

Suburban robots that monitor reality

Common stock, we work around the clock

We shove the poles in the hole.

 

I am more equal than others's picture

 

 

Duck........Duck.......Duck....Golden Goose.

Slaugher that bitch.

Manthong's picture

Guy on the left talking:

“Don’t you guys ever get the creeps with the portraits of all those evil old Rothschilds staring at you while you here in the rigging pit?”

Pinto Currency's picture

 

So you have the LBMA trading 290 million oz. of gold per day (for sure no HFT algos working that) with the contracts levered 100x for every gold ounce backing the contracts and then you have 5 guys sitting around the table with telephones at the end of the day setting the price at the Rothchild's bank.

Seems efficient, transparent, and not susceptible to manipulation or fraud.

An analysis of the LBMA gold fixing  should be required reading for how to structure an efficient market for true-blue price discovery.

 

Manthong's picture

OK so that's what.. 900 tonnes+ per day?

um.. like 1/3 the total mine production of the entire year "traded" in a day?

Oh, that makes a whole lot of sense..

Now I understand.

Hey, India.. all 1B+ of you are being played.

Join the club.

Pinto Currency's picture

 

9,100 tonnes per day.  About 3.5 x world annual gold mine production is traded - each day.

Just another zero so no prob.  The LBMA can make as much gold as you want.

Brings back memories of Steve Martin's routine about FRED'S BANK. 

Except everyone laughed at Steve Martin.

Monty Python could never do a skit about the LBMA gold and silver fixing. 

Nothing funny about efficient markets.

rabbitusvomitus's picture

Yeah just like that "guy" who bought  a tesla with bitcoin, only he didn't. Don't know if any of you caught the interview on cnbs with the Lamborghini dealer who " sold a telsa for bitcoin" only for him to come on the air and say, " the buyer sold bitcoin for us FRN's and THEN bought the used tesla from the dealer with dollars. Complete BS listening to the shills on cnbs trying to corner him into saying he accepted bitcoin, lmao. So if I sell my appl to buy a tesla can I get my 15 seconds on cnbs?  

nmewn's picture

I notice a lot of them "cashing out" these days.

I was wondering when the faith in the credit worthiness of this scam would break...lol.

wintermute's picture

You have Noooooooooooooooooo idea.

Do yourself a favor and do some basic research. I'll make it easy:

http://www.youtube.com/results?search_query=bitcoin+explained&sm=1

nmewn's picture

An entire page, of youtube amatuers, explaining the ins & outs of a crypto-currency, to profit from in fiat currency...protected by a patent, to be enforced by the state.

No, I see no contradictions there at all ;-) 

Manthong's picture

Flek calls it a chain letter not backed by a standing army or the power to tax.

As a person of the non-statist persuasion but indoctrinated by the state I am not so sure how to absorb this conflicting information. 

NickVegas's picture

Is bitcoin a monetizing scheme for distrubed hashing for the NSA? That may be the question of the hour. I'm very suspicious when the MSN promotes anything. I can't recall once in my life where pursuing anything they promote was worthwhile.

zerozulu's picture

No wealth of the universe can satisfy their greed. I call them genetically flawed race.

Idisq's picture

I hope you used amagimetals.com. They are on the up and up.

DaveyJones's picture

"Yes, maintenance, this is Edward. How come my frame has no picture?, Oh, I see, that's the door"

ParkAveFlasher's picture

"Gentlemen, how much capital shall we misallocate today?"

disabledvet's picture

more like "how much capital will YOU mis-allocate today"? what's a little gold amongst friends. http://www.youtube.com/watch?v=0WjHyA7-Iyshttp://www.youtube.com/watch?v...

SafelyGraze's picture

this Zerohedgearticleauthor in Photocaption big Mistake has maken!

not give it Geldprice fixgetting, but the Highpriceprostituten for the Fridaynight are they detailoutworking.

huggen,
angelamerkeln 

ParkAveFlasher's picture

I heard Jar Jar Binks when I read that.

akak's picture

Meesa thinkin you be on the nose hittin it betcha betcha!

kaiserhoff's picture

whorepricenmitwhoppiemachen?

Crash N. Burn's picture

Indeed!

"Over the past dozen years or so, many well-meaning individuals and institutions have sought to expose – and thus presumably put an end to – the rampant financial crime in these gold and silver markets. There has been the “smoking gun” testimony of metals trader, Andrew MacGuire. There has been a litany of quasi-confessions from various Western banking officials on past and ongoing efforts to “stabilize” (i.e. suppress) the gold market, in particular.

Then there are the markets themselves. We see prices jerked up and down (mostly down) in large, absolutely vertical moves, on a near-daily basis – an impossibility in any large, legitimate market. We see prices and inventories plummeting straight down, simultaneously – also an impossibility in any legitimate market.

We see the miners who produce these metals being relentlessly driven into bankruptcy, because prices aren’t allowed to rise high enough to even allow these companies to break-even, while at the same time global demand is spiking to unprecedented levels."

The One Road To End Precious Metals Corruption

 

 Psychopaths are many things, stupid usually isn't one of them.

Sovereign Economist's picture

I'm not so sure how intellectual they are.  They are installed by the Globalist Banker Cabal and told what to do by their new puppetmasters.  Perhaps, more than intellect, they are chosen for their fealty to following the directions of their masters.

ZH Snob's picture

OK, guys, the photographer's here.  let's all pick up our phones and make it look like we're taking adversarial positions on the price this morning.

 

 

Ignatius's picture

Not typically my greeting for a first date, but this is 'dog world' we're talking about.

If the dog reels in horror it might indicate something, probably not good.

Kirk2NCC1701's picture

Haven't you figures it out yet?  It's just about the only place, whose smell is NOT masked by other smells from the environment. 

It's where you get the "Un-Manipulated ID", the "Genuine ID".

Itch's picture

one can never be too sure.

krispkritter's picture

Where the hell is Beeks and that Gold report!  "And then there are other commodities, like frozen orange juice... and GOLD. Though, of course, gold doesn't grow on trees like oranges."  It does when it's paper...

F-Tipp's picture

Get back in there and SELL!!!

Jumbotron's picture

If you're in the big club you're getting the milk.

If you're NOT in the big club you're just sniffin' their ass.

hedgeless_horseman's picture

 

 

Yes, the cow is the Fed, the calf is the PDs, and the dog left licking up the PDs' piss for a taste of salt is us.

MachoMan's picture

The view only changes for the lead mule...

Svendblaaskaeg's picture

So it´s just piss?? - yikes! (spitting) I thought its was urine..

Lordflin's picture

This is exactly the way I pictured it...