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German Gold Manipulation Blowback Escalates: Deutsche Bank Exits Gold Price Fixing
Germany's blowback against gold manipulation is accelerating. Following yesterday's report that Bafin took a hard line against precious metals manipulation, after its president Eike Koenig said possible manipulation of precious metals "is worse than the Libor-rigging scandal", today the response has trickled down to Germany and Europe's largest bank, Deutsche Bank, which announced that it would withdraw from the appropriately named gold and silver price "fixing", as European regulators investigate suspected manipulation of precious metals prices by banks. As a reminder, Deutsche is one of five banks involved in the twice-daily gold fix for global price setting and said it was quitting the process after withdrawing from the bulk of its commodities business. The scramble away from gold fixing was certainly assisted by the recent first (of many) manipulation expose in the legacy media, when Bloomberg revealed "How Gold Price Is Manipulated During The "London Fix." And sure enough, with Germany already very sensitive to the topic of its gold repatriation, and specifically why it is taking so long, it was only a matter of time before any German involvement in gold manipulation escalated to the very top.
"Deutsche Bank is withdrawing its participation in the gold and silver benchmark setting process following the significant scaling back of our commodities business. We remain fully committed to our precious metals business," it said in a statement.
In mid-December, German banking regulator Bafin demanded documents from Deutsche Bank under an inquiry into suspected manipulation of benchmark gold and silver prices by banks, the Financial Times reported, citing sources.
Bafin declined to comment on Friday, but its President Elke Koenig said the previous day that it was understandable that the topic was attracting widespread concern.
"These allegations (about currencies and precious metals) are particularly serious, because such reference values are based - unlike LIBOR and Euribor - typically on real transactions in liquid markets and not on estimates of the banks," she said in a speech
Needless to say, manipulation of the gold market would not be exactly novel to a bank which has also been named in cases related to the sub-prime crisis, credit default swaps, mortgages, tax evasion and a decade-old lawsuit suit brought by the heirs of late media mogul Leo Kirch, who accuse the bank of undermining the business.
Reuters also reports that Deutsche is now actively marketing its gold and silver fixing seats to another LBMA member, however now that the cat is out of the bag on the gold fixing manipulation scheme (the first of many), it is likely that others will seek to follow in Deutsche's footsteps and seek to put as much distance between themselves and the wood-paneled room once located in the Rothschild office on St. Swithin's Lane in London.
We wonder which of these five gentlemen is from Deutsche?

So if everyone exits the London fixing market, what happens then?
"It wouldn't surprise me if the other banks were looking at pulling out as well. Why would they want the aggravation?" said the source, who declined to be named.
"The more worrying point is that, if you don't have the fixing, what do you have? There's a lot of contractual business done on the gold fix, and if you've got no basis for where the price is, someone is going to lose out."
Well considering that the fixing process over the years was manipulation pure and simple, those who will lose out are the... manipulators? it would seem rather logical. And speaking of manipulation, if indeed Germany is so keen on breaking the manipulators' back, perhaps it can demand that the pace of its gold returns from the NY Fed and Paris accelerates. It may be surprised at what it finds.
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"Koch Bos."----tipoff keyword of Bath House Barry's progressive trolls. Disregard all such blather. Eventually they will invent another strawman keyword, so keep sharp.
Stack on!
You need do come up with another bogey-man. "Koch Bros" is getting worn out and just identifies the poster as the real douche-nozzle low information talking points spewing Obama dick sucking little paid troll.
There is much more scandal here. I suspect they are avoiding what is to come more than what has transpired.
I agree..like the defaults in delivery comming soon...
Yeah, but they won't call it the D-word. They'll call it "rationed deliveries."
Ersatz deliveries.
Forced manure...
Comedy majeure...
Hoarding controls...
I wonder what banks will be involved in the daily price fix of tungsten?
Hoarding quota, hoarding limit?
Force Majeure claimed, payoffs in bernankebux.
DB, if it aint broken dont try to fix it.
Looks like Germany is getting their gold back afterall. If the rumors are true a SIZEABLE cache of gold that used to belong to a certain ruler is what is fueling the gold buying frenzy. Looks like the Germans and probably a few others that have been stiffed by the FED are getting their cut out of this cache that wasn't on the open market prior to settle debts since the FED obviously doesn't have their gold or else they wouldn't be taking 7 years to deliver it.
Link please. Exactly how do you know Germany is getting their gold back?
I said looks like by their actions. You ever wonder why the Comex has so much eligible but not registered gold? You ever think that the volume of paper is to hide the slow resale of said cache back onto the market so no one notices it. Think Andy Dupree in The Shawshank Redemption.
Well then if that is the case, at the rate Andy Dupree dropped those "gold nuggets" from his pant leg, it's going to take Germany 1000 yrs to get her gold back.
Who said anything about Germany having their debt settled by buying it on the open market.... That 7 years was probably the FED's estimate with the understanding of the rate of bleed onto the market and how fast they could buy it up and ship it back without being blatantly obvious what it was they are doing. Remember the FED tends to base their decisions on economic math models and not take how the real world works into account when they make decisions. PHD morons come to mind. The golden rule always applies, he who controls the gold, controls the rules and they don't control this rumored cache.
Not necessarily doubting your premise, but
"without being blatantly obvious what it was they are doing"?
7 years to get your gold back isnt blatantly obvious?
PHD morons tend to think everyone believes their bullshit because they have PHDs and you don't so you are obviously intellectually inferior. Hubris because of perceived superiority tends to be a dominant trait with them type of clowns.
Cui Bono by the Germans squawking about gold manipulation in relation to German self interest. They certainly don't while being owed gold and it needs to be bought on the open market first before they get it back. The Germans tend to be methodical and efficient. Them squawking about gold prices being manipulated down without having gold owed to them back in possession (doesn't matter where it came from if not the FED) first is completely out of character and also out of character for them to bite the hand that is feeding them aka the FED concerning owed gold unless the hand is no longer feeding them.
Interesting read on why Germany wants its gold back .... and why they were forced to give up possession in the first place.
http://www.thetrumpet.com/article/10416.28833.153.0/economy/why-does-germany-want-its-gold-back
More than that. The gold was used as collateral for the reconstruction of West Germany after WWII. After x amount of years Germany was supposed to get back their gold back if they wanted but until then the Allies were supposed to be able to use it as they pleased partially to raise revenue through loaning it out, etc. to pay for the reconstruction of Germany. There is more to it than that but that is the basic jist of it. Apparently the FED and France sold all their gold outright (the FED probably back in the late 60s to finance Vietnam) and this new cache is being used to settle those agreements.
The fact that Germany is squawking now tells me the debt has been settled behind the FED's back since they don't control this cache.
US/FED Checklist:
1. Tell JP Morgan to buy gold from Shanghai.
2. Send gold to Switzerland to melt down and cast new bars.
3. Give gold back to Germany.
4. Exit metal markets because everyone wants their gold back and there isn't enough cause they leased it all 3 times over... queue default.
5. Brace criminal investigations...
*PS #5 is Friday humor*
"Apparently the FED and France sold all their gold outright (the FED probably back in the late 60s to finance Vietnam)......"
AND where exactly did the "Fed" get "their" gold?
Fuc0*^g THIEFS........Hang them all!
The FED/Treasury/Ft Knox circle jerk misdirection. The actions tell the tale if you truely take the time to listen instead of just hear.
If you look at the timeline and the 'default' and going off the gold standard in 71 by Nixon says that is most likely time they sold it off because of financing issues due to Vietnam. The French also had alot of money tied up in that fiasco, first then we got sucked in once they couldn't get the job done with their boots on the ground.
Think of it this way war is like credit expansion. You take out the credit with the hope the debt load you take on in the short term pays itself off afterwards plus. Wars are expensive and the payoff is afterwards when there is no payoff like Vietnam that debt incured still needs to be paid and the aggressor then is on the hook for it.
the french lost the heroin concession in the viet nam fiasco
Them pulling out of the gold manipulation business is one thing but you'll know when the shit gets real as far as the whole gold thing goes when Douche Bank pulls out as being a primary dealer with the FED.
good day sir, good day, jolly good
More seriously, what does this mean for the gold price? Can the "See You Next Tuesdays" at the Fed still drive it down?
look at how theyre triying to hold Gold below their dreaded $1250 and The other only from of real money below $20.50...
meanwhile the fucking Dow goin up on earning misses and nothing but bad data....
hilarious......
They will lose control one day, one day it will be over, one day heads will roll.....one day the train horns will blow, the marching of troops boots will rumble in the distance one day, smoke will rise and billow from camps one day, lead will fly from patriots one day. One day everything will change, one day.
"Schiess das Fixer!" said Hans Gruber in the remake of both Die Hard I und III: Die Hard Mit Ein Vengence gegen Banker.
I'm not holding my breath, but it would be awesome if some of the people involved in the price fixing ended up shooting themselves in front of their kids....
It is amazing that all other asset classes are trading/selling at record amounts, but gold is selling near its production cost.
Gold Swan?
Or course, Joe Blow has to actually have money in order to buy anything real - like physical.
Like amazon or Twitter for example, no, like they are actually priced realistically
"It is amazing that all other asset classes are trading/selling at record amounts, but gold is selling near its production cost."
And that, is a great argument for owning Au. Patience will be rewarded.
JMO
yes & no.
A credit card isn't real money but many PM dealers will deliver from use of one.
Any non-payment is an issue with card-holder & card-issuer leaving the customer with metal & the PM dealer with usable fiat.
So now instead of 5 fixers, we have just 4 fu@kers, er fixers
If the fix goes, all is fixed!
Open auction of physical gold would be the way forward, and the guys long on paper, better get converted, fast.
At the moment 112 claims on paper on each unit of gold in Comex. What are they thinking, or not!
Less than 1% will end up with the real stuff, you know, the stuff that can't be eaten. LOL<
Ever heard of musical chairs.?
Stacker : musical chairs expert
IT HAD TO COME FROM GERMANY... FOR ALL THINGS, IT SEEMS THEY ARE THE SMARTEST DOWN THERE IN EUROPE... GEEZ...
NO, NO, NO - they are just pissed at the us for hoarding all the shiney stuff....
Actually, I think they're pissed at us for SELLING all their shiny. I seriously doubt that the USA is still 'hoarding' a fraction of the gold that they claim to hold.
Well yeah, of coure we all know that....I'm sure it's just retribution that's all, they are corrupt as we are, they just aren't as smart at being evil - don't ever forget that...it's not like they are doing this out of the kindness of their hearts.
i don't think it will be surprised at all.
Since when is when passing paper receipts back fourth between LBMA members for a multiple of the underlying physical metal (with absolutely no constraints on whether fixers are representing their own or their clients' interests) a "real" transaction?
They are very Nationalistic...and they want their gold back......and now they are learning that it might not be there as they were told....so yes..they will get pissed...and add in the NSA bugging....and your friend becomes an enemy..
"Dear Valued Deutscher Client,
We regret to inform you that your gold has been rehypothecated years ago when you were busy eating bratwurst and sipping Gluwein and Liebfraumilch. We'll be gald to remedy this situation by giving you a plane load of treasury bills and bonds to sooth your Teutonic angst. Please let us know so we can print them up for you.
On behalf of all our executives, shareholders, bondholders and employees, it has been a deep pleasure working with you.
Please come again.
Warm Regards,
The Honorable Bank CEO"
Nein, zee gold iz zafe in zee chocolate form.
Bundesbank (BuBa) knows since ever that their gold is gone. They are not stupid. Maybe a decade or longer ago the US tried to press the BubA to sell its gold (just as the time the Brits announced that they were selling a huge part of their BOE gold). I think the important politicians were at that time already bribed to follow England but they had no power over BuBa.
Fortunately, the BuBa President at that time refused with the following reply: The Bundesbank is not selling its gold because this is the gold of the German people. We have to safeguard this for the German people. We are not selling now and we do not intend to sell in the future. And for sure he knew also that the BuBa gold sitting in the US was not anymore there. If it was ever there is the question! because the gold Germany bought was never in Germany. Its was paid for and the BuBA received a statement of the ownership of the gold with such and such numbers. There was never a physical audit from the BuBa concerning their gold in the US, just on paper. Or do you think that Germany could press the US to check on their gold.They cant do it now, the more it was impossible at that time 10/20 years after WWII.
This nice story, that the gold was stored in the US, London and Paris to be safer in case of an attack from the Soviet Union is a joke, ha, ha. In case of a war in Germany all Germans East and West would have been exterminated, burned to shadows and Germany would have been only one big hole in the ground. Germany was bound to be the battleground of WWIII and their the war would have been contained most probably. The US had lots of nuclear mines digged in the ground to stop a Sowjet attack, the French and the Brits had short range nuclear rockets ready to go day and night for decades to be shot into Germany East and West. Plus the intercontinental ballistic missiles with nuclear warheads by the hundreds from Russia and the US would have exploded in Germany. There would have been nobody left to worry about their gold.
Its the same with Frau Merkel saying that NSA is spying on her. As a matter of fact in a few months a brand new high tech spy building in Wiesbaden-Erbenheim, Germany is starting to operate, it took years to be constructed. Build by the Germans with German money if I#m correct. Not the spy installations are paid by the Germans but everything else. Paid for by the "Bundesamt fuer Verteidigungslasten" (Federal Office for Defense Expense). This office paid also all the civil employees of the US Army in Germany, plus it paid for the buildings and the maintenance of the buildings in use by the US Army and Airforce, whatever. This is all public knowledge if one is interested to know it. The building in Wiesbaden Erbenheim is for sure a highly specialized building clearly visible what is its purpose. So Frau Merkel even pays the US to spy on her and she pays also for the spy buildings.
That means its an open conflict and Frau Merkel is fighting to receive full souvereignity for Germany. The gold "problem" is one lever and NSA spying on her is another lever used by Frau Merkel to put pressure onto the US. Germany wants to get rid of big brother US and the nuclear arsenal still stored in Germany. The other weaker Eurozone members (except France) do assist Frau Merkel but not openly. Once Germany manages to be free from the US grip the other nations (Italy and the Vatican would jubilate) will follow the next day. Only France and the UK are not happy about this development because an unchained German economic powerhouse and a unchained Italy is not in their interest. But its in the interest of Europe, at least that is my opinion.
+1
thanks for offering that perspective.
It must be a problem to keep the Hypothecation / ReHypothecation ball in the Air when a major counterparty DB starts to pull back from the PONZI lending against ficticious Bullion Bars This could get out of hand if some of the Banksters break their silence and blurt out the truth under interrogation The pressure valve reading appears to have moved to the RED zone now that a few real reporters are on the trail of a Global crime scene They will get to the bottom of our allegations and we can only hope the U.S. NSA does not confiscate and destroy the TRUTHFUL press releases before anyone anywhere gets to read them
Running before this SHTF . Thats all .
The current "fix" seems to be 1250.
http://www.wherethegoldat.com/
as Monti Burn's says, Excellent!
really nice piece, tyler!
Ps. and for those trolls (???) that embed false BS on ZH regarding, 'tyler never being right on the "markets movement" and losing money,... i, willfully suggest a myriad of money-making freebies offered-up by Sir Tyler Durden... ie. btfd stupid and no shorting POMO days just to name a few-- thusly, i say too one and all of the fool's (troll's) to get fucked!!!
bravo Tyler :-))
Note: now is the time for backing up the stagecoach and loading up on gold bitches! just like land, they ain't making any more!?!
Germany wants all of their gold back before Yellen squats on it and it then smells like gelfilte fish.
ehghgh, ehhhag, barffff
Essentially the bank is saying if they cannot break the law, they don't know how to do their jobs. They are in effect admitting that they are, were, and always will be, a criminal organization
If you own physical and want cheering up - go get one of your coins, hold it, feel the weight, and look at that beautiful colour.
Puts a little smile on yourface doesn't it?
"it can demand that the pace of its gold returns from the NY Fed and Paris accelerates. It may be surprised at what it finds"
Afaik the German gold in French vaults does still exist and was delivered to Germany. "Hello Washington can you say the same...?"
I don't believe germany has gotten anything from france, and all we get is silence. if they got it back, it would have been reported.
The Frenchies have recently acquired a gold mine in Mali, since they were obliged to go there following a convenient AQ attack. The US and GB are 'assisting' with logistics and drones. I suspect hiring has gone up at the mine site and they are now running three shifts.
And this mine belongs to whom exactly and in depth, is the question
http://www.infomine.com/index/properties/SKOURIES_%28HELLENIC_GOLD%29.html
And the opposition from the Locals
https://www.youtube.com/watch?v=jzZ7nkAEH2E
That is one of a similar actions in Europe but it sounds awfully closely related to the current events.
On May 7, 1999, just as gold threatened to surge over $300 in response to new doubts that the proposed IMF gold sales would go forward, the British announced that the Bank of England on behalf of the Exchange Equalisation Account in the British Treasury would sell 415 tonnes of gold in a series of public auctions. Although this announcement came with no warning and was completely unexpected by most, the previous evening Bill Murphy of GATA reported in his Midas column at Le Metropole Cafe: "[Deutsche Bank's] bullion desk is calling their clients saying that the gold market is stopping at $290." [Emphasis in original, copy at www.gata.org/graham.html.]
the link is not working
try this one. much more infromative, in depth and a proper antidote to all of the various soundbites in this echo chamber of the superficial and the transitory
http://www.usagold.com/gildedopinion/howederivatives.html
Thanks a lot. Is much to read. I printed it so I can read it in quiet later.
BUNDESBANK phones the FEDERAL RESEVRE;
Ring, ring, ring... ring, ring, ring...
FEDERAL RESEVRE:
> "Hello."
BUNDESBANK:
> "Hello, dis is da Bundesbank calling, we received only 37.5 tons of our Gold in 2013, we were expecting delivery of another 50 tons of our Gold... where is it?"
FEDERAL RESEVRE:
> Click noise.
BUNDESBANK:
> "Hello, dis is da Bundesbank!, is anybody there?, hello?, hello?, hello?... is anybody there?"
FEDERAL RESEVRE:
> Blank dial-tone sound.
BUNDESBANK:
> "Shiezzen!".
Time to invade Poland.
BUNDESBANK phones the FEDERAL RESEVRE;
Ring, ring, ring... ring, ring, ring...
FEDERAL RESEVRE:
Press 1 for English......
Press 2 for Hebrew
Press 3 for Yiddish
Press 4 for Ladino
Press 5 for Aramaic
"You see, he keeps hanging up!"
"This is United States calling are we reaching..." Click!
The banks are just the "boots on the ground"....the Federal Reserve is instigating the pm take down for reasons everyone on this boardhas known about for years.
Perhaps, too, the Chinese and our Fed are in this deal together.....the Chinese might have said, "We'll hold your worthless notes and not dump them (which would expose their true value) so long as you create a situation which permits us to acquire gold at a low price." ....or, "One hand washes the other".
Looking at the 2 major beneficiaries of this fixing, we have both the Chinese and the Fed.
Very likely.
I also think China is planning to pull the rug out from under the US at some point... i.e. dump all US debt/treasuries while simultaneously declaring a new currency backed by all the gold they have been buying.
I don't think the Chinese are planning to pull the rug from under us. I'm not naive to think that they like us but a complete collapse of any major currency would harm the global economy in the current inter collected world.
However, I think they are sick and tired of supporting the dollar and getting blamed and lectured by us regarding manipulation at the same time. They are probably getting ready and wishing for a partial gold standard which gold will be treated as an independent currency in the FX market.
How many ICBMs can we shove up their ass?
Sorry, but the ganstas in charge here won't let them 'pull the rug out" without making sure they go down with us.
Everyone is locked into a circle jerk hoping the other guy falls on their own first.
I think you're right. Poker table, entire night, vs play of one hand. Can't judge the whole night by the 3rd hand in.
note: one must also take into consideration Iran dumping it's gold for oil vast (?sanctionless?profit?) tangible assets for paper. what better way to fuck-em now, when they bought at the top and now must sell at the bottom? perhaps Iran will loose as much as 20%-30% because of manipulation 3rd/ 4th parties.
jmo
"We remain fully committed to our precious metals business," it said in a statement.
I don't think "fully committed" means what you think it means.
Pretty sad when almost every official response to accusations of wrong-doing has an appropriate meme.
I’m not a fan of Glenn Beck but here’s an interesting video he did. It’s simplistic and nothing we didn’t know. But it is pretty good because it’s simple and he makes it easy to understand and visualize. It is also true.
http://www.glennbeck.com/2014/01/09/what-really-happened-to-the-german-gold-housed-in-the-united-states/
It makes you think what will happen when this all blows up? What will happen to the price of gold? What will happen to the value of the $ we hold? What will happen to the economy? And when will this happen? Is there anything that can be done to prevent this from all coming to a head?
Yeah, I don't really care for Beck either, but this was a good watch. He did leave out leasing though, which I guess one could roll into "Rehypothecation."
I sent the link to some family and friends, as I am sure that my explanation of what is going on with the German gold and its importance was less than adequate.
Thanks, for the link.
Their house, skyscraper, of cards has just encountered a breeze.
Weren't there some metals experts (Rick Rule, James Turk etc) that had been saying that there is way more physical gold being sold than what is coming out of the ground, and that some countries must be selling their stock piles? I did read that gold out of London was being melted down by the Swiss and sold to the Chinese in different weighted bars. So my bet is that Ft Knox, et al, has gold painted styrofoam bars at best. I also wonder how any group of people could be so stupid, but then I think of -Obama care, Iraq invasion, and on and on.....
Yeah, when, a few years ago, some friends of mine told me that tungsten was found in some gold bars, I thought that they were nuts. I didn't think that they would DELIVER such a thing. But then that was my error, as it was probably an accident that they delivered. They were probably DECOY bars--"There mister German treasury guy, there's your gold right over there. See? Now lets go to the stripclub."
"If Jon Corzine died of a heart attack today, people would say that he dodged a guillotine."
Is there anything that can be done to prevent this from all coming to a head?
If there is.....I'd start using it now cause it's only a matter of time before everyone else hears about it.
From the 1920s to the 1970s (with striking similarities to today), gold loans between private and official sectors had periodically become so great that they simply couldn't be paid. The world economy was being built upon a debt of gold that no one could pay off.
FRIEND OF ANOTHER ~1999
(Edited to correct attribution)
I think his explanation of rehypothecation was a bit facile.
But then again, it was made for tv.
I just spent a night in a hotel room on my way to Roatan and watched tv for the first time in 7 years.
2 things struck me.
TV is still completely dumb, zombiefying waste of time,... yet oddly captivating, mesmirizing, black hole eyeball sucking crack pipe.
Number 2 is that the mood in 'merica is getting ornery.
Maybe number 2 was a channel surfing fluke. I am unwilling to repeat the experiment.
dittos.
but, beck has now thrust this into the mainstream, off of the places like ZH nobody reads (no affront intended). Now germany is backing off from london for partly domestic political reasons. That beggars the Question: Who Is Next? Some of you guys know better than me who else has made the mistake of loading their gold into the Fed vault (connected to the JPM vault just bought by China???)?
Is this one of those 'events,' obscure when it happens, but later emerging as the Black Swan?
Only time will tell, and it may not be long.
Keep Stackin'
I think my contrarian theory from the price fixing thread yesterday just got a little more evidence supporting it.
In which case, Germany isn't getting their gold back. Big surprise, considering the Fed fell short on their first delivery by 20 tons, even with a year's warning.
It's crazy to think they can't even come up with a puny 50 tons of gold... with you know, all that GLD and the COMEX and all.
What's even crazier is that they delivered freshly cast bars -- meaning that in the entirety of the Fed's holdings of gold, they couldn't come up with enough of the original German bars -- not even rehypothecated ones stolen from some other depositor -- to ship back in the first delivery to keep the lie going another year.
So the Fed doesn't even have 10% of the original German gold left in the vault. No wonder the Germans are making noise.
Ding! Ding! Ding! The gold they got was not only short, it was different. WTF does that tell anyone? Kinda tough to repay gold when the rest of the world is buying up all that's available. Did you say 50? I thought you said like 40 or so....give us a year. We are good for it.
I fear the rest of the world is going to gang up on America cuz they're getting sick of our shit.
wha??!! Next you'll be telling me if you don't hold it you don't own it.
Hey all first post long time reader.
Tsxv has been absolutely been destroyed by all this.
Look forward to more!
Dear China,
Can we have our gold back, please?
Pretty please?
Please, please, please?
Sincerely,
Germany
?
It's on like Donkey Kong! You can make this up! Jim Richards meets Tom Clancey.
$1250 has been crossed, start the slamdown timer...
This is a good video (from RT) that I had not seen before. An official from the German Prescious Metals Association talks about the repatriation problem starting at the 3:30 mark.
http://www.youtube.com/watch?v=NyemAwLD2N0
Obligatory:
Hitler Learns German Gold is Tungsten
https://www.youtube.com/watch?v=PqvDUEVbIbk
This Hitler video thing is almost the only truly funny commentary on the current state of things in the world there is.
Note: I did see this Hitler movie before it became a source of parody, and it is very good. Mrs. Pelosi, I mean Geobbels', killing her children is disturbing and telling.
"Ropes in Nuremberg, and guillotines in DC."
Dear all Germans, The criminals of the US government stole your gold.
Dear rest of the world, You better ask for yours back before the lines get too long--like more than one.
Me thinks somebody in a corner somewhere is challenging the US. They must hold physical gold since they are peeling back the curtain on market manipulation. Who will benefit? Not US but who is them?
The moral of this story will be: If you can't hold it in your hand you don't own it.
Me think somebody is pissed that the Chinese are getting their gold.
I hope no one believes him here, right ? :D
"The more worrying point is that, if you don't have the fixing, what do you have? There's a lot of contractual business done on the gold fix, and if you've got no basis for where the price is, someone is going to lose out."
Heaven forbid that the market would decide the price of anything, as opposed to cabal of "fixers".
They're taking their gold, going home, and crying to mommy. about how the other banks aren't playing nice?
As to the photo, the Deutsche rep is the one in lederhosen.
Could it be that the insiders spent Q4 acquiring dirt cheap PM mining stocks and are now ready for a ramp up in the sector?
stawks? Pretty sure they're going for the gold as directly as possible. The miners ain't it. So many are themselves merely speculating on what gold they can ever find.
Otherwise identified physical is not a speculation - it's there - just a question of how much the cost is.
"The more worrying point is that, if you don't have the fixing, what do you have? There's a lot of contractual business done on the gold fix, and if you've got no basis for where the price is, someone is going to lose out."
gee, just base everything off of Bitcoin then.
HAHAHAHAHA, j/k, bitchez...
The PM bears are soon going to get their asses handed to them. Or maybe a lot of them are secretly PM stackers anyone and just never wanted anyone else to get into the game.
Either way...tick-tock, tick-tock...when the SHTF, it's going to happen all at once, it will be extremely volatile, and it's gonna be a fucking blast!!!
And I'm betting we're a lot closer to blast off than anyone even knows, because there could be so many different triggers that kick this thing off...which one(s) and when will be the key.
Either way...tick-tock, tick-tock...when the SHTF, it's going to happen all at once, it will be extremely volatile, and it's gonna be a fucking blast!!!
It is going to be a blast, alright. Gold is at the apex of Exter's Inverted Pyramid.
How do I put this in a way that can be understood?
Central Bankers really have not declared outright that Gold is not money. (Other than Bernanke..) They continued to keep it in their reserves and many have been increasing those reserves. But it just was too difficult to transport. Too much risk...
So what they did was they parked it over here in the United States. They never declared it was not money.
For many years...decades...it was shuffled from vault to vault to settle the Balance of Trades. That used to happen underneath the World Trade Center before 9/11/01
But then the Buildings were bombed. But the US Government moved the Gold to the vaults of the Federal Reserve Bank of New York...BEFORE THAT EVENT HAPPENED.
So the Federal Reserve steals it and sells it? The US Government was complicit in that theft?
Maybe that was the goal of 9/11 all along. It was a fucking Bank Heist.
If this is going through my head you can be assured that others may be thinking this. And you can be assured that they are going to be really pissed off at this.
THERE WILL BE NO TRUST
CREDIT MARKETS WILL FREEZE
BANK HOLIGAYS WILL BE DECLARED
CONFIDENCE IN FINANCIAL INSTITUTIONS WILL BE DIMINISHED
THIS SPELLS OUT COLLAPSE...THE END GAME.
WITH THE LACK OF CONFIDENCE THE FEDERAL RESERVE WILL HAVE TO PRINT ACTUAL CURRENCY INSTEAD OF CREATING ELECTRONIC DIGITS.
Yeah..WE ARE FUCKED.
Yeah..Looking forward to it. ARE YOU PREPARED?
One down. Four to go.
Or maybe DB is getting out of the PM business because soon there will be no PMs available to trade? One wonders what else is behind these German moves.
As much as I am certain TPTB globally work in concert for their own mutual self interest that does not mean there is not dissension amongst the ranks.
Torn, I believe the German Central Bank is getting while the getting is good (or so it thinks). Being German Bankers, they understand the temperment that the German people can have when they are deceived. I think they are trying to put some distance between themselves and the Deuche Volk (the people with the pitchforks and rope) in order to create salvation for their banker ilk.
What else can be said besides Go GATA GO! Go get 'em Lars Schall, and to all banksters everywhere, your days are numbered (and we're not talking about those swiss bank account #'s).
The whole idea of rehypothecation of any asset is legalized fraud.
The ship was already here... and parked long enough to allow for hand carry.
http://tradewithdave.com/?p=15529
https://duckduckgo.com/?q=investing+in+china+a+shares+b+shares+h+shares+...
Imagine if Beijing simply creates
dual gold futures exchanges.
One for the fixed price.
One for the real one.
I think real estate's the same.
If this were the 70's the de facto
physical futures market represented
by purchase commitments made in
pre-construction trailer offices
along A1A could, if today, have
a parallel de facto physical futures
market represented by purchase
commitments made in pre-construction
trailer offices along A1A for buyers
ignoring the affects of:
http://pages.citebite.com/o2c0d2e1j0mlb
http://pages.citebite.com/d1i8e3n1t3rpv
I got margin called by myself while making up my own market on a sheet of paper.
what if the manipulators plowed all their profits into gold?
If the manipulation ends then the manipulators will make a killing
Buying physical gold is like buying sure-shot lottery tickets at this point.
I agree. It's just a bloody shame the Gov doesn't leave me enuff after the highway robbery of child support and taxes to buy any.
See John run. See Sally run.
They are safe and having fun!
See the German Banksters run,
to stop the people from their fun.
It doesn't matter that people have ropes.
For in the end they'll hang the bankster dopes.
- Dr. Zeus
Years ago, a banker entered the gold vault he was entrusted with....He looked about and said to himself, "Look at all that gold, sitt'n around, do'n nutt'n......the rest is history.......
Yes, all that glisters, etc. Perhaps tungsten futures are worth watching?
'
'
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The shit-rats leaving the shit-ship!
•J•
V-V
The German's are just picking on bankers again for stealing their money again. Nothing to see here move along.
Scotched earth policy still alive. heil hitler. Germans say with blatant outright fraud all the world sees, if we can't profit from the ponzi no ones does. Not even the dead head fed fuds reserves empty gold vaults. This is an outright pulling of the king pin from the ponzi global PM juggernaut. The price fix which was unsinkable hit a monstrous iceberg today and we've got people playing in the ice on deck. This suckers going down and all the fiat un-backed paper ponzi with it. This bonzi debt gone wild is over. Straighten deck chairs up top the sinking financial ship; paper assets are going down if you can't face reality or not. Get your paper assets turned into something of substance asap.
I like scotch with a good cigar.
"Scotched earth policy still alive."
I sure hope so, I should own at least five acres of Laphroaig's peat bog by now.
Their QuarterCask has a flavor of its own
I just bought a clay mine.
https://www.youtube.com/watch?v=Cilxe4G0Cho
This says it all.
Oh you precious souls and the balance of the (bargin basement?) us to common criminals. So you're having visions at this bright conditions, overseas transmissions to anyone who listens.
You're ready for the drums to kick in, your want to free your life and limbs. I am going to count to three then you want to leave here with me.
Oh we wasted all our precious time chasing dollars, chasing dimes, German English, Japenese, all the sand in all the seas. It's all in place, it's all laid out, and as we speak it's going down.
My thoughts on Bank behavior is simple. Proven by their actions to be criminal enterprises, big banks should be broken up by government action. This may displease the government haters, of which I am one, but in this case, nobody elese has the power to do it. To big to fail means you will be broken up. Added to this, evry state in the union should set up a state bank as a utility, simply to serve customers and small business, totally seperate from wall-street banking and the big banks. A utility to provide safe harbor for people's savings and return a real interest rate and to serve local small business. Some will say this can't be done, but we know from history it has been done and can be done. Banking is for all intents a criminal enterprise, the facts prove this. State utility banks would allow honest savers and honest small business to exit the grand skimming schemes of big banks. Why does this not happen? We all know why? Big money control of the political system. Perhaps people themselves could unite and form a cooperative bank in each state. Whatever we do as honest savers and small business owners, we must exit the big bank system. Who could argue otherwise in a honest fashion?
Government by definition is a criminal enterprise what makes you think a politically controlled bank would be any better?
If anything make it easier for people to organize small community coop banks
Max Keiser will LOVE THIS! I can't wait for his next program. He is not afraid to speak the truth, and the truth is that banks are criminal enterprises. If you or me engaged in actions of fraud and manipulation like them, we would never see the outside of a jail cell in our lives. You know, and I know it.
I agree Jack. BTW, love you movie. Waiting for the sequel. Big Trouble in Little DC.
You know what Jack Burton always says at a time like this...
"Ah, I just want my truck back?"
"Ah, I don't get it?"
"You were not put on this earth to GET IT Mr. Burton!"
Love me some Max Keiser but lately he's so crazed. This news will put him over the edge and he'll stroke out mid-program. Will be a hell of a show.
JB, here's the latest Max, it doesn't cover this topic but he has interesting things to say about how BTC will wipe out parasitical middle men currently thriving in the fiat pig pen: https://www.youtube.com/watch?feature=player_embedded&v=VPmkeio3jJQ
"In the second half, Max interviews Reggie Middleton of BoomBustBlog.com about his own Bitcoin 2.0 application for hedging. Reggie says that if Bitcoin were a car, it would be one which also comes with its own road and which can go faster than any other car on the road and pay no tolls – it is an intelligent currency, unlike dumb fiat."
Thanks Bob I am going to watch that right now during my workout time. Max motivates me.
another Deutsche Bank tidbit:
‘ol Jim Willie told Turd in a podcast interview late last year that his buddy, “The Voice”, said that Deutsche Bank was the biggest bank in the world that was extremely close to toppling over the cliff. He said they were one of three banks that had been having to work 24/7 night and day to do everything they could do to keep the bank afloat.
He said to look for a huge merger at some point between Deutsche Bank and another big bank, but I can’t remember which one he predicted it might be.
I read that as well. Willie has been a good voice in the wilderness, but his timing is off. Not to say that he tells tall tales, just the timing, which we know is very hard to predict (especially when the PTB keep changing the rules-the cocksuckers have most of the politicians, regulatory agencies, and judges in their back pockets).
Join the peaceful revolution...if that fails, join the violent one.
No, the Jackass has definitely told many a tall tale. I'm aware of him for many years. I loved the one he told Turd Ferguson last year about the existence of a prison under the Caribbean where various bad guys are now cooling their jets. Allll-Riiiiighty then JW.... But A) who the f*ck knows and B) he's always a great listen regardless.
Willie's been dead-on about emerging global settlement mechanisms designed to cut the dollar out of bilateral and multilateral trade. He saw it coming much earlier than any other analyst I'm aware of.... I respect him for his foresight and ability to read the tea leaves.
I also love his audios b/c frankly, listening the guy is a whole lot easier than trying to decipher the tortured usage/syntax/grammar in those long Hat Trick Letter excerpts. I usually just skip to the end for the bottom line.
I think we'll see reverse WWII USA v Germany before Deutsche Bank fails. Or shortly thereafter. Big mess either way.
jump back into funds like CEF if you want your IRA to do anything this year... if they pull back on fixing the price a bit gold could hit $1500 by end of year
AGQ Jan '17 Calls. See prices for 20, 30, 40 and $50 stikes, watchlist them, and buy some on the next smackdown, likely around the next FOMC meeting next Tues/Weds 1/28 & 29. Watch them closely all week long and buy when the smack is at its ugliest and when commenters here are most distraught...
The leverage of options on top of an underlying 3X leveraged ETF that itself tracks Ag futures. If AGQ shares will rocket higher once PM's are out of lockdown consider for a moment what AGQ Calls will do. Bear in mind the Calls won't have it be ITM for one to make fabulous returns on a solid best placed earlier than most even consider the possibilities....
DYOD and just remember: 3X leverage cuts both ways! Any bets placed here need to be considered speculative in the extreme.