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German Gold Manipulation Blowback Escalates: Deutsche Bank Exits Gold Price Fixing

Tyler Durden's picture




 

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.

Reuters has more:

"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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Sat, 01/18/2014 - 12:28 | 4343936 lakecity55
lakecity55's picture

"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!

Sun, 01/19/2014 - 12:29 | 4345890 dexter_morgan
dexter_morgan's picture

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.

Fri, 01/17/2014 - 11:39 | 4340946 Quinvarius
Quinvarius's picture

There is much more scandal here.  I suspect they are avoiding what is to come more than what has transpired.

Fri, 01/17/2014 - 11:51 | 4341009 youngman
youngman's picture

I agree..like the defaults in delivery comming soon...

Fri, 01/17/2014 - 11:56 | 4341030 NoDebt
NoDebt's picture

Yeah, but they won't call it the D-word.  They'll call it "rationed deliveries."

Fri, 01/17/2014 - 11:59 | 4341042 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

Ersatz deliveries.

Fri, 01/17/2014 - 12:16 | 4341128 Crash Overide
Crash Overide's picture

Forced manure...

Fri, 01/17/2014 - 14:18 | 4341598 Oh regional Indian
Oh regional Indian's picture

Comedy majeure...

Fri, 01/17/2014 - 12:24 | 4341166 gmrpeabody
gmrpeabody's picture

Hoarding controls...

Fri, 01/17/2014 - 13:09 | 4341366 Jonas Parker
Jonas Parker's picture

I wonder what banks will be involved in the daily price fix of tungsten?

Fri, 01/17/2014 - 14:22 | 4341625 Herd Redirectio...
Herd Redirection Committee's picture

Hoarding quota, hoarding limit?

Sat, 01/18/2014 - 12:25 | 4343928 lakecity55
lakecity55's picture

Force Majeure claimed, payoffs in bernankebux.

Fri, 01/17/2014 - 11:39 | 4340947 put_peter
put_peter's picture

DB, if it aint broken dont try to fix it.

Fri, 01/17/2014 - 11:41 | 4340948 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

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.

Fri, 01/17/2014 - 11:50 | 4341005 fijisailor
fijisailor's picture

Link please.  Exactly how do you know Germany is getting their gold back?

Fri, 01/17/2014 - 11:56 | 4341031 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

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.

Fri, 01/17/2014 - 12:18 | 4341147 quasimodo
quasimodo's picture

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. 

Fri, 01/17/2014 - 13:08 | 4341170 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

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.

Fri, 01/17/2014 - 13:51 | 4341521 Clever Name
Clever Name's picture

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?

Fri, 01/17/2014 - 15:52 | 4341582 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

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.

 

 

Fri, 01/17/2014 - 11:59 | 4341039 Rainman
Rainman's picture

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

Fri, 01/17/2014 - 12:20 | 4341124 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

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.

Fri, 01/17/2014 - 12:28 | 4341189 Crash Overide
Crash Overide's picture

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*

Fri, 01/17/2014 - 12:32 | 4341209 Imagery
Imagery's picture

"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!

Fri, 01/17/2014 - 13:03 | 4341250 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

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.

Sat, 01/18/2014 - 00:17 | 4343271 delacroix
delacroix's picture

the french lost the heroin concession  in the viet nam fiasco

Fri, 01/17/2014 - 11:51 | 4341012 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

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.

Fri, 01/17/2014 - 11:40 | 4340958 the not so migh...
the not so mighty maximiza's picture

good day sir, good day, jolly good 

Fri, 01/17/2014 - 11:41 | 4340963 Rodders75
Rodders75's picture

More seriously, what does this mean for the gold price? Can the "See You Next Tuesdays" at the Fed still drive it down?

Fri, 01/17/2014 - 11:42 | 4340967 Kaiser Sousa
Kaiser Sousa's picture

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......

Fri, 01/17/2014 - 11:48 | 4340998 Obama_4_Dictator
Obama_4_Dictator's picture

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.  

Fri, 01/17/2014 - 11:44 | 4340974 Eastwood
Eastwood's picture

"Schiess das Fixer!" said Hans Gruber in the remake of both Die Hard I und III: Die Hard Mit Ein Vengence gegen Banker.

Fri, 01/17/2014 - 11:44 | 4340979 Vooter
Vooter's picture

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....

Fri, 01/17/2014 - 11:44 | 4340984 bankonzhongguo
bankonzhongguo's picture

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.

Fri, 01/17/2014 - 11:47 | 4340994 Racer
Racer's picture

Like amazon or Twitter for example, no, like they are actually priced realistically

Sat, 01/18/2014 - 09:00 | 4343686 Croesus
Croesus's picture
bankonzhongguo: 

"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

Mon, 01/20/2014 - 16:45 | 4349045 MeelionDollerBogus
MeelionDollerBogus's picture

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.

Fri, 01/17/2014 - 11:46 | 4340987 Racer
Racer's picture

So now instead of 5 fixers, we have just 4 fu@kers, er fixers

Fri, 01/17/2014 - 11:46 | 4340992 holgerdanske
holgerdanske's picture

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.?

Mon, 01/20/2014 - 16:45 | 4349044 MeelionDollerBogus
Fri, 01/17/2014 - 11:49 | 4341004 lemarche
lemarche's picture

IT HAD TO COME FROM GERMANY... FOR ALL THINGS, IT SEEMS THEY ARE THE SMARTEST DOWN THERE IN EUROPE... GEEZ...

Fri, 01/17/2014 - 11:51 | 4341008 Obama_4_Dictator
Obama_4_Dictator's picture

NO, NO, NO - they are just pissed at the us for hoarding all the shiney stuff....

Fri, 01/17/2014 - 12:05 | 4341071 OpenEyes
OpenEyes's picture

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.

Fri, 01/17/2014 - 14:52 | 4341112 Obama_4_Dictator
Obama_4_Dictator's picture

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.

Fri, 01/17/2014 - 11:54 | 4341007 Its_the_economy...
Its_the_economy_stupid's picture

i don't think it will be surprised at all.

 

Fri, 01/17/2014 - 11:55 | 4341025 Urban Redneck
Urban Redneck's picture

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?

Fri, 01/17/2014 - 11:55 | 4341027 youngman
youngman's picture

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..

Fri, 01/17/2014 - 12:55 | 4341301 CheapBastard
CheapBastard's picture

"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"

 

 

Mon, 01/20/2014 - 16:19 | 4348973 MeelionDollerBogus
MeelionDollerBogus's picture

Nein, zee gold iz zafe in zee chocolate form.

Fri, 01/17/2014 - 15:51 | 4341882 supermaxedout
supermaxedout's picture

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.

Sat, 01/18/2014 - 07:28 | 4343615 trader1
trader1's picture

+1

thanks for offering that perspective.  

Fri, 01/17/2014 - 12:03 | 4341060 BlackBoxFund
BlackBoxFund's picture

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

Fri, 01/17/2014 - 12:05 | 4341067 thewayitis
thewayitis's picture

 

 Running before this SHTF . Thats all .

 

Fri, 01/17/2014 - 12:07 | 4341079 Bastiat
Bastiat's picture

The current "fix" seems to be 1250.

Fri, 01/17/2014 - 12:10 | 4341098 earleflorida
earleflorida's picture

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!?!

Fri, 01/17/2014 - 12:19 | 4341148 Clowns on Acid
Clowns on Acid's picture

Germany wants all of their gold back before Yellen squats on it and it then smells like gelfilte fish.

Fri, 01/17/2014 - 12:30 | 4341198 Obama_4_Dictator
Obama_4_Dictator's picture

ehghgh, ehhhag, barffff

Fri, 01/17/2014 - 12:19 | 4341151 RaceToTheBottom
RaceToTheBottom's picture

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

Fri, 01/17/2014 - 12:20 | 4341154 Calculus99
Calculus99's picture

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?

Fri, 01/17/2014 - 12:23 | 4341171 Volaille de Bresse
Volaille de Bresse's picture

"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...?"

Sat, 01/18/2014 - 00:22 | 4343283 delacroix
delacroix's picture

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.

Sat, 01/18/2014 - 10:54 | 4343802 lakecity55
lakecity55's picture

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.

Sat, 01/18/2014 - 12:06 | 4343881 Escapedgoat
Escapedgoat's picture

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.

Fri, 01/17/2014 - 12:25 | 4341173 Yardfarmer
Yardfarmer's picture

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.]

Fri, 01/17/2014 - 14:58 | 4341747 supermaxedout
supermaxedout's picture

the link is not working

Fri, 01/17/2014 - 15:08 | 4341781 Yardfarmer
Yardfarmer's picture

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

Fri, 01/17/2014 - 16:11 | 4341933 supermaxedout
supermaxedout's picture

Thanks a lot. Is much to read. I printed it so I can read it in quiet later.

Fri, 01/17/2014 - 12:26 | 4341175 The Duke of New...
The Duke of New York A No.1's picture

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!".

Fri, 01/17/2014 - 12:55 | 4341315 NoTTD
NoTTD's picture

Time to invade Poland.

Fri, 01/17/2014 - 12:57 | 4341324 CheapBastard
CheapBastard's picture

BUNDESBANK phones the FEDERAL RESEVRE;

Ring, ring, ring... ring, ring, ring...

FEDERAL RESEVRE:

Press 1 for English......

Fri, 01/17/2014 - 14:30 | 4341646 Meat Hammer
Meat Hammer's picture

Press 2 for Hebrew

Press 3 for Yiddish

Press 4 for Ladino

Press 5 for Aramaic

Fri, 01/17/2014 - 15:44 | 4341868 Vooter
Vooter's picture

"You see, he keeps hanging up!"

Fri, 01/17/2014 - 16:05 | 4341924 Billy Sol Estes
Billy Sol Estes's picture

"This is United States calling are we reaching..." Click!

Fri, 01/17/2014 - 12:28 | 4341188 rosiescenario
rosiescenario's picture

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.

Fri, 01/17/2014 - 12:39 | 4341257 GrinandBearit
GrinandBearit's picture

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.  

Fri, 01/17/2014 - 14:04 | 4341537 ltsgt1
ltsgt1's picture

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.

Fri, 01/17/2014 - 14:50 | 4341711 Almost Solvent
Almost Solvent's picture

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.

Mon, 01/20/2014 - 16:21 | 4348978 MeelionDollerBogus
MeelionDollerBogus's picture

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.

Fri, 01/17/2014 - 12:30 | 4341200 earleflorida
earleflorida's picture

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

 

 

 

 

Fri, 01/17/2014 - 12:31 | 4341204 Cangaroo.TNT
Cangaroo.TNT's picture

"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.

Mon, 01/20/2014 - 16:22 | 4348980 MeelionDollerBogus
MeelionDollerBogus's picture

Pretty sad when almost every official response to accusations of wrong-doing has an appropriate meme.

Fri, 01/17/2014 - 12:31 | 4341206 Took Red Pill
Took Red Pill's picture

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?

Fri, 01/17/2014 - 13:00 | 4341334 kchrisc
kchrisc's picture

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.

Fri, 01/17/2014 - 14:42 | 4341609 therevolutionwas
therevolutionwas's picture

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.....

Fri, 01/17/2014 - 16:15 | 4341949 kchrisc
kchrisc's picture

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."

Sat, 01/18/2014 - 09:53 | 4343725 GetZeeGold
GetZeeGold's picture

 

 

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.

Sat, 01/18/2014 - 12:48 | 4343743 Tall Tom
Tall Tom's picture

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)

 

 

 

Fri, 01/17/2014 - 14:59 | 4341753 jimmytorpedo
jimmytorpedo's picture

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.

Sat, 01/18/2014 - 10:42 | 4343784 lakecity55
lakecity55's picture

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'

Fri, 01/17/2014 - 12:36 | 4341210 seek
seek's picture

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.

Fri, 01/17/2014 - 12:58 | 4341326 Crash Overide
Crash Overide's picture

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.

 

Fri, 01/17/2014 - 14:17 | 4341597 seek
seek's picture

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.

Sat, 01/18/2014 - 01:52 | 4343395 IridiumRebel
IridiumRebel's picture

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.

Mon, 01/20/2014 - 16:25 | 4348992 MeelionDollerBogus
MeelionDollerBogus's picture

wha??!! Next you'll be telling me if you don't hold it you don't own it.

Fri, 01/17/2014 - 12:35 | 4341238 Uni
Uni's picture

Hey all first post long time reader.

Tsxv has been absolutely been destroyed by all this.

Look forward to more!

Fri, 01/17/2014 - 12:39 | 4341258 kchrisc
kchrisc's picture

Dear China,

Can we have our gold back, please?

Pretty please?

Please, please, please?

Sincerely,

Germany

Fri, 01/17/2014 - 12:44 | 4341272 cristo
cristo's picture

?

Fri, 01/17/2014 - 12:43 | 4341274 CitizenPete
CitizenPete's picture

It's on like Donkey Kong! You can make this up!  Jim Richards meets Tom Clancey. 

Fri, 01/17/2014 - 12:43 | 4341278 seek
seek's picture

$1250 has been crossed, start the slamdown timer...

Fri, 01/17/2014 - 12:45 | 4341280 mr.n3utr0n
mr.n3utr0n's picture

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

Fri, 01/17/2014 - 14:55 | 4341731 TheAnswerIs42
TheAnswerIs42's picture

Obligatory:

Hitler Learns German Gold is Tungsten

   https://www.youtube.com/watch?v=PqvDUEVbIbk

 

Fri, 01/17/2014 - 16:37 | 4342054 kchrisc
kchrisc's picture

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."

Fri, 01/17/2014 - 16:20 | 4341973 kchrisc
kchrisc's picture

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.

Fri, 01/17/2014 - 12:46 | 4341287 IREN Colorado
IREN Colorado's picture

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.

Fri, 01/17/2014 - 13:24 | 4341426 ltsgt1
ltsgt1's picture

Me think somebody is pissed that the Chinese are getting their gold.

Fri, 01/17/2014 - 12:48 | 4341292 FrustratedLogician
FrustratedLogician's picture

I hope no one believes him here, right ? :D

Fri, 01/17/2014 - 12:53 | 4341306 NoTTD
NoTTD's picture

"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".

Fri, 01/17/2014 - 13:05 | 4341357 bluskyes
bluskyes's picture

They're taking their gold, going home, and crying to mommy. about how the other banks aren't playing nice?

Fri, 01/17/2014 - 12:53 | 4341309 NoTTD
NoTTD's picture

As to the photo, the Deutsche rep is the one in lederhosen.

Fri, 01/17/2014 - 13:08 | 4341364 Metal Minded
Metal Minded's picture

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?

Mon, 01/20/2014 - 16:26 | 4348998 MeelionDollerBogus
MeelionDollerBogus's picture

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.

Fri, 01/17/2014 - 13:20 | 4341414 Save_America1st
Save_America1st's picture

"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.

Sat, 01/18/2014 - 10:44 | 4343788 Tall Tom
Tall Tom's picture

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?

Fri, 01/17/2014 - 13:39 | 4341469 SumSUN
SumSUN's picture

One down.  Four to go.

Fri, 01/17/2014 - 14:03 | 4341549 TORNasunder
TORNasunder's picture

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.

Fri, 01/17/2014 - 14:24 | 4341614 grekko
grekko's picture

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).

Fri, 01/17/2014 - 14:04 | 4341552 tvdog
tvdog's picture

The whole idea of rehypothecation of any asset is legalized fraud.

Fri, 01/17/2014 - 14:08 | 4341573 tradewithdave
tradewithdave's picture

The ship was already here... and parked long enough to allow for hand carry.

http://tradewithdave.com/?p=15529

Fri, 01/17/2014 - 14:11 | 4341578 evernewecon
evernewecon's picture

 

 

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

 

 

 

Fri, 01/17/2014 - 14:12 | 4341583 Manipuflation
Manipuflation's picture

I got margin called by myself while making up my own market on a sheet of paper.

Fri, 01/17/2014 - 14:13 | 4341586 SmittyinLA
SmittyinLA's picture

what if the manipulators plowed all their profits into gold? 

If the manipulation ends then the manipulators will make a killing 

Fri, 01/17/2014 - 14:18 | 4341599 Gordon_Gekko
Gordon_Gekko's picture

Buying physical gold is like buying sure-shot lottery tickets at this point. 

Fri, 01/17/2014 - 14:32 | 4341651 grekko
grekko's picture

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.

Fri, 01/17/2014 - 14:29 | 4341644 grekko
grekko's picture

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

Fri, 01/17/2014 - 14:39 | 4341673 Fix It Again Timmy
Fix It Again Timmy's picture

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.......

Fri, 01/17/2014 - 14:39 | 4341678 Erpfish
Erpfish's picture

Yes, all that glisters, etc.  Perhaps tungsten futures are worth watching?

Fri, 01/17/2014 - 14:50 | 4341709 SweetDoug
SweetDoug's picture

'

'

'

The shit-rats leaving the shit-ship!

•J•
V-V

Fri, 01/17/2014 - 14:53 | 4341725 q99x2
q99x2's picture

The German's are just picking on bankers again for stealing their money again. Nothing to see here move along.

Fri, 01/17/2014 - 15:00 | 4341757 buzlightening
buzlightening's picture

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. 

Fri, 01/17/2014 - 15:25 | 4341821 Manipuflation
Manipuflation's picture

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.

Fri, 01/17/2014 - 15:32 | 4341840 dark pools of soros
dark pools of soros's picture

Their QuarterCask has a flavor of its own

Sat, 01/18/2014 - 08:45 | 4343673 negative rates
negative rates's picture

I just bought a clay mine.

Fri, 01/17/2014 - 15:14 | 4341788 TheAnswerIs42
TheAnswerIs42's picture
All the Sand in All the Sea

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.

Fri, 01/17/2014 - 15:12 | 4341792 Jack Burton
Jack Burton's picture

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?

Sat, 01/18/2014 - 11:02 | 4343810 Uni
Uni's picture

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

Fri, 01/17/2014 - 15:15 | 4341798 Jack Burton
Jack Burton's picture

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.

Sat, 01/18/2014 - 00:23 | 4343284 grekko
grekko's picture

I agree Jack.  BTW, love you movie.  Waiting for the sequel.  Big Trouble in Little DC.

Sat, 01/18/2014 - 00:25 | 4343286 grekko
grekko's picture

You know what Jack Burton always says at a time like this...

Sun, 01/19/2014 - 15:29 | 4346386 Jack Burton
Jack Burton's picture

"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!"

Sat, 01/18/2014 - 05:25 | 4343555 the0ther
the0ther's picture

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.

Sat, 01/18/2014 - 14:34 | 4344204 ArrestBobRubin
ArrestBobRubin's picture

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."

Sun, 01/19/2014 - 15:31 | 4346389 Jack Burton
Jack Burton's picture

Thanks Bob I am going to watch that right now during my workout time. Max motivates me.

Fri, 01/17/2014 - 15:26 | 4341823 Save_America1st
Save_America1st's picture

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.

Sat, 01/18/2014 - 00:20 | 4343278 grekko
grekko's picture

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).

Sat, 01/18/2014 - 00:22 | 4343281 grekko
grekko's picture

Join the peaceful revolution...if that fails, join the violent one.

 

Sat, 01/18/2014 - 14:53 | 4344236 ArrestBobRubin
ArrestBobRubin's picture

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.

Sat, 01/18/2014 - 05:23 | 4343553 the0ther
the0ther's picture

I think we'll see reverse WWII USA v Germany before Deutsche Bank fails. Or shortly thereafter. Big mess either way.

Fri, 01/17/2014 - 15:29 | 4341831 dark pools of soros
dark pools of soros's picture

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

 

 

Sat, 01/18/2014 - 15:08 | 4344266 ArrestBobRubin
ArrestBobRubin's picture

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.

Do NOT follow this link or you will be banned from the site!