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UBS Investigated For Gold Manipulation Suggesting Gold Inquiry Goes Beyond London Fix

Tyler Durden's picture




 

The last time the FT penned an article on the topic of gold manipulation, titled "Gold price rigging fears put investors on alert" it was promptly taken down without much (any) of an explanation. Luckily, we recorded the article for posterity here. Earlier today, another article on the topic appears to have slipped through the cracks of the distinguished editors of the financial journal that enjoys the ad spend of the status quo, when it reported that "Gold pricing scrutiny widens", hardly an update that will take the world by storm, however it is notable that "even" the FT, where for years goldbugs claiming gold manipulation had been ridiculed, is finally start to admit the glaringly obvious.

In this case, the FT looks at one of the most habitual and recidivist manipulators of practically every asset class that the market has ever known, Swiss bank UBS, better known as the rat that is allegedly perfectly happy to expose all other manipulators in exchange for immunity, and focuses on the Friday’s admission by UBS in its 2013 annual report: "that a review of its foreign exchange operations has been widened to include its precious metals business. In the report, the Swiss bank said: "Following an initial media report in June 2013 of widespread irregularities in the foreign exchange markets, UBS immediately commenced an internal review of its foreign exchange business, which includes our precious metals business.

And while it was recently revealed that there has been unprecedented collusion and rigging of gold at the time of the London fix, the latest revelations confirms that the inquiry is going beyond merely what the venerable five member banks of the London Gold Market Fixing Ltd, on the premises of N M Rothschild & Sons: after all UBS is not part of this particular criminal syndicate, which at last check included Barclays, Deustche (soon to be replaced by Standard Bank which is merely a front for China's ICBC), Bank of Nova Scotia, HSBC and SocGen.

More from the FT:

“A number of authorities also are reportedly investigating potential manipulation of precious metal prices. UBS has taken and will take appropriate action with respect to certain personnel as a result of its ongoing review.”

 

UBS has been in front of its peers in revealing important details about various regulatory probes – most notably the rigging of Libor and other interbank lending rates.

 

Until Friday the bank had not mentioned its precious metals business was included in its review of trading practices. There was, for example, no mention of the metals business alongside fourth-quarter results a month ago.

But before anyone gets too excited, let's recall that the last time the CFTC did an "in depth" investigation of manipulation in precious metals, it found... nothing (however, according to Bart Chilton that was only due to the zero or negative budget allotted to the impotent regulator, until recently headed by a Goldmanite). Perhaps this time will be different, and suddenly it may be in someone's interest to finally see gold trade up to its fair value, whatever that may be, although certainly higher than the current prevailing beaten down prices, which have seen China buy up unprecedented amounts of physical gold courtesy of manipulated paper supply and demand. Especially supply. 

Better yet: we look forward to learning all about it by the staunch defender of fair and efficient gold markets, the FT. Which is why, just in case, we have saved this article too. You never know when the FT will pull down this article or that, simply for breaching the taboo topic of gold price manipulation, something the Bank of England we are confident, will be very interested in as well.

 

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Mon, 03/17/2014 - 15:26 | 4560083 LawsofPhysics
LawsofPhysics's picture

Meh, unless everyone with a paper claim demands delivery, nothing changes.

Mon, 03/17/2014 - 15:29 | 4560095 gafgroocK
gafgroocK's picture

 

 

I love the 'revelation' of manipulation...and the Dance of the Kabuki that follows..

Mon, 03/17/2014 - 15:31 | 4560115 outamyeffinway
outamyeffinway's picture

Oh another gold investigation. I guess that's why the price is getting smacked today. Or is the new found peace in the Ukraine?

Mon, 03/17/2014 - 15:34 | 4560134 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

I think if like 2 in 100 stood for delivery we'd get some fireworks...just sayin.

Mon, 03/17/2014 - 15:55 | 4560245 strannick
strannick's picture

Sentances like this is why I come to ZH everyday for news, and not FT, Bloomberg, or God forbid, TV news. This scheme, like the London Gold Pool, lasts up til the day it doesnt.

Earlier today, another article on the topic appears to have slipped through the cracks of the distinguished editors of the financial journal that enjoys the ad spend of the status quo, when it reported that "Gold pricing scrutiny widens", hardly an update that will take the world by storm, however it is notable that "even" the FT, where for years goldbugs claiming gold manipulation had been ridiculed, is finally start to admit the glaringly obvious.

 

Mon, 03/17/2014 - 16:07 | 4560313 Skin666
Skin666's picture

Tylers have been on fire the last few weeks!

 

This is cutting edge reporting/satire. These kleptos are being exposed quick. What's going on on twitter at the moment is mindblowing! Politicians and kleptos signed up to twitter to get down with the kids, and the kids are just laughing at them!

 

The AskJPM storm on twitter cost Blythe 'klepto' Masters her fucking new job at the SECC. These people are being exposed and mocked!

Mon, 03/17/2014 - 16:19 | 4560354 Herd Redirectio...
Herd Redirection Committee's picture

I'm lovin' it.

Mon, 03/17/2014 - 16:26 | 4560401 fredquimby
fredquimby's picture

I love the BofE gold tweet replies

 

 

Mar 14

If you enjoyed a look at the gold vaults download the app for a tour of the Bank of England

Mar 14

Whats with all the gold tweets ? You only have some 300 Tons left to back up all the confetti you printed !


 




Mon, 03/17/2014 - 15:36 | 4560145 HoofHearted
HoofHearted's picture

I hope they keep up with the manipulation for a while longer. Beat the price back down a little. We've just come into some fiat and want to get the gold where it is fairly valued by the manipulators...then, and only then, should it rise to a free market price...

Mon, 03/17/2014 - 15:59 | 4560279 lordylord
lordylord's picture

Down $30 from today's high.  It's laughable.  I would cry if I owned ETFs.

Mon, 03/17/2014 - 15:28 | 4560097 Soul Glow
Soul Glow's picture

And if you had a paper claim and you found out that everyone else just found out that the gold in the vaults are unaccounted for wouldn't you want to claim you paper?

Mon, 03/17/2014 - 15:36 | 4560132 LawsofPhysics
LawsofPhysics's picture

I would never hold paper PMs.  I do, however, wish the miners would catch a break (not just PM miners, but rare earth miners as well).  I mean, if everyone will be eatin i-pads shortly, you would think that lithium and lanthanum miners would be heading to the moon...

Mon, 03/17/2014 - 15:39 | 4560159 Soul Glow
Soul Glow's picture

There is a huge difference between a paper claim on unallocated gold - unallocated as it is - and a claim on a stock certificate.  Stocks are always paper.

Mon, 03/17/2014 - 16:31 | 4560429 fredquimby
fredquimby's picture

someone on here kindly recommended BRD at $0.53 a month or two back. today $1.29

I am happy to spread the BRD love too, so feel free to punt

https://www.google.com/finance?q=TSE%3ABRD

 

 

 

Mon, 03/17/2014 - 16:43 | 4560481 Herd Redirectio...
Herd Redirection Committee's picture

It was $.84 two months back.  Was at $.54 almost 5 months ago. But still a nice run, running up to its acquisition.

Mon, 03/17/2014 - 17:11 | 4560591 Soul Glow
Soul Glow's picture

Keep moving that paper back and forth.  I hope you are having fun.

Mon, 03/17/2014 - 15:29 | 4560099 BaBaBouy
BaBaBouy's picture

CAN YOU SPELL..... F-E-D ????????????

Mon, 03/17/2014 - 16:02 | 4560292 Kirk2NCC1701
Kirk2NCC1701's picture

Enquiring Minds demand "delivery" of the Cargo Manifest -- the real Manifest -- of flight MH370.

What has the authorities "weighed down" with not spilling the truth?

Mon, 03/17/2014 - 17:13 | 4560581 Anasteus
Anasteus's picture

"Meh, unless everyone with a paper claim demands delivery, nothing changes."

5% of all such claims would do the job.

As regards the article, another conspiracy theory turned out to be conspiracy fact. Soon we're out of conspiracy theories.

Mon, 03/17/2014 - 15:26 | 4560087 KingdomKum
KingdomKum's picture

we few,  we happy few,  we band of silver holders  .  .  .

Mon, 03/17/2014 - 15:28 | 4560091 Cognitive Dissonance
Cognitive Dissonance's picture

In the case of Gold manipulation.....where there is smoke there is no fire.

If 'they' admit to some form of manipulation it is a safe bet the actual manipulation was/is ten times worse. No matter what, it will never be traced directly back to the central banks.

Mon, 03/17/2014 - 15:58 | 4560114 Ham-bone
Ham-bone's picture

paging Fabrice Tourre or the solitary gunman from the Dallas grassy knoll...a single fall man should be adequate to show that a bad apple was responsible...but all's well now.

Mon, 03/17/2014 - 16:13 | 4560330 knukles
knukles's picture

Some snot nosed white Anglo Saxon 64 y/o Protestant married with 4 children chick clerk in the IRS's Cincinnati office

 

Gives a whole new meaning to "Miss-ta-filing"

Mon, 03/17/2014 - 18:44 | 4560938 The Abstraction...
The Abstraction of Justice's picture

Well they will probably admit to a fwe billiion USD of manipulation and get fined a few hundred million, but the real scope of the fraud is over 1500 trillion USD, the derivative market that is propped up by fiat crap.

Mon, 03/17/2014 - 15:29 | 4560100 Ancona
Ancona's picture

Uh huh.......this will go exactly nowhere.

Mon, 03/17/2014 - 15:43 | 4560185 NoDebt
NoDebt's picture

Like the end of "A Perfect Storm".  The boat is chugging through monster waves and high winds all night.  In the morning they see the dawn breaking through the clouds and think they've made it.  Then it all quickly closes in again, the boat is capsized and everyone dies.

Mon, 03/17/2014 - 15:29 | 4560103 One And Only
One And Only's picture

Gold has been hacked.

Mon, 03/17/2014 - 17:00 | 4560543 ParkAveFlasher
ParkAveFlasher's picture

Really?  Because mine is still shiny.

Mon, 03/17/2014 - 15:31 | 4560104 Kreditanstalt
Kreditanstalt's picture

All well and good...but the REAL manipulation consists of trading futures and options & naked shorting.

The fact that a paper-denominated Comex trading entity (which allows unlimited, unbacked positions) & under which physical delivery rarely if ever takes place and with almost no supply on hand anyway - can DETERMINE THE PRICE of the physical commodity...is the true manipulation.

Mon, 03/17/2014 - 15:48 | 4560218 free_lunch
free_lunch's picture

Paper gold creates the illusion that there is more gold then there actually is. It also creates the illusion that fiat money has +45 times the purchasing power it actually has.. At least that's what goldseek claims in this article: http://conquerchange.com/paper-gold-a-fraud-masquerading-as-an-illusion-...

Analysing todays events related to goldpricing: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/17_West_Controlling_Markets_To_Keep_Confidence_From_Collapsing.html

Paul Craig Roberts research on goldanipulation: http://www.paulcraigroberts.org/2014/01/17/hows-whys-gold-price-manipulation/

TAFTA:  as a free gift, an revealing interview with Karel De Gucht (EU commisioner on trade) on the lifechanging EU/USA TAFTA / TTIP deal that is continueing in all silence while the spotlight is focussed on less important events. Watch the video (english)

Mon, 03/17/2014 - 15:30 | 4560112 AL_SWEARENGEN
AL_SWEARENGEN's picture

Those poor suckers who think they own Gold and Silver through GLD & SLV are going to be really POOR when they figure out all the actual physical they own is in their teeth.

Mon, 03/17/2014 - 16:20 | 4560164 Ham-bone
Ham-bone's picture

the poor suckers are those that doubted TPTB willingness and/or capability to distort, manipulate, control damn near everything. 

Those that doubted the populaces willingness to go along in a fraud.  Doubted the perpetrators willingness to go all in; spurn every law, fuck every constitutional piece of paper...those who still doubt how this will end, you've been told what to do by TPTB...get on board with the fraud or hold your head high and go down like a man w/ morals still intact..but I'm doubting investing in a "contrarian" PM's play is going work out real well for the average guy/gal.

Most ZH'ers hold their PM insurance policy but those who think their holding the winning PM megabuckz ticket...good luck with that.

Mon, 03/17/2014 - 16:41 | 4560471 Kaiser Sousa
Kaiser Sousa's picture

sorry bro, they can change your perception but they cannot alter the reality....

theirs is a debt based currency paradigm in its dying days...

we who hold physical Gold and Silver hold REAL money.....

let their games continue to afford me the opportunity to aquire that which they hold...the reset is near

Mon, 03/17/2014 - 16:58 | 4560529 Ham-bone
Ham-bone's picture

and you would have likely and seemingly correctly said the same in March '09, the same in '71 upon the death of gold backed dollar.  And you'd be better off holing PM's than most other "assets"...still, the dollar, not unlike ourselves, is terminal but like us, no one knows when the games up.

By all means, hold PM's but make no pretense we are near the end...we simply don't know and the risks are high...just think of the top .01% in Cyprus who all knew what was coming and avoided the bail-in...I do not think the average man will be allowed to simply book a profit...they have thought of every game scenario, do not believe them oblivious or stupid...assume quite the opposite as they are thorough and briliant in their Machiavellian maintenance of power and wealth.

Mon, 03/17/2014 - 17:15 | 4560585 Kaiser Sousa
Kaiser Sousa's picture

sorry to say that u confuse brillance with sociopathic...they r not to praised for being ruthlses enough to kill their own mother in order to maintain their debt based currency paradigm...the fact that so many consider them to be omnipotent and resign to being their debt slaves is why we r where we r...i happen to believe im just as smart as they r without the sociopath genes...i know what they know thats why they got all the Gold and ive been stacking the Silver they thought they demonitized many years ago - but they have failed and will fail at preserving this parasitical paradigm SOONER rather then later...

if u wish to "bow down" believeing all that u said above please proceed...

i have chosen a different path...

as Bruce called it - "the art of fighting without fighting..."

thats what real money allows u to do...

Mon, 03/17/2014 - 17:19 | 4560625 Ham-bone
Ham-bone's picture

Kaiser, I don't praise them but acknowledge you are correct in their sociopathic lives.  I won't assimilate into the lies and corruption and fraud but I doubt that has a happy ending for me or you or other non-conformists.  I will hold my head held high regardless but less convinced I'll be "rewarded" for my convictions in this lifetime.

Mon, 03/17/2014 - 17:32 | 4560677 Kaiser Sousa
Kaiser Sousa's picture

bro im 52...

and am certain that if i allowed to live another 5-10 years all that i have been preparing for will unfold...and as reslut i will have won and prospered...

everything that they r doing is a testement to their desperation - and the realization that they have lost control...stay the course and hold fast..u, i and many more r more powerful than u think....and they do fear us...

Mon, 03/17/2014 - 17:49 | 4560756 tocointhephrase
tocointhephrase's picture

Gloves are off and have been for a long time. Their painkillers are about to wear off

Mon, 03/17/2014 - 17:10 | 4560587 Greenskeeper_Carl
Greenskeeper_Carl's picture

I disagree that a reset is near. I used to think so, but ive come to think that this whole shitshow is going to muddle along a lot longer than most on here think. I (obviously) could be completely wrong on this, but I just don't see it happening anytime soon. I buy gold and silver not becuase I think there is a massive reset just over the horizon, although there very well could be, but because I am 29 years old, and i know that both are manipulated lower to make fiat currencies look better than they are, and that they will be worth many times what they are worth now in another 30 or 40 years when I retire. I like being able to go right up the street from my house and buy a 10 ounce bar for 237 in cash at my LCS, and i hope i will continue to be able to do so for a while longer. This will of course mean my mining stocks will continue to go nowhere, but Im ok with that. PMs will get their day in the spotlight again, but its probably not going to happen for a while, and im ok with that. In the mean time, keep stacking

Mon, 03/17/2014 - 15:47 | 4560199 Kreditanstalt
Kreditanstalt's picture

But "those poor suckers" don't CARE if they "own gold and silver" or not...GLD and SLV are their vehicles for making BETS on "the gold price" or "the silver price".

And in a no-growth world of next-to-no investment opportunities, betting is all there is...

Mon, 03/17/2014 - 16:37 | 4560455 Kaiser Sousa
Kaiser Sousa's picture

hey Al i know u really meant once they find out all that Silver is "in our safes..."

Mon, 03/17/2014 - 15:31 | 4560117 Confundido
Confundido's picture

This is simply a way to link this outstanding issue to foreign policy...I wonder how much of the Russian assets in the West were moved via (not to) UBS, in the past weeks...

Mon, 03/17/2014 - 15:31 | 4560122 holmes
holmes's picture

There's got to be a special place in Hell for these bankster scumbags.

Mon, 03/17/2014 - 15:58 | 4560271 ziggy59
ziggy59's picture

The devils ass...

Mon, 03/17/2014 - 15:59 | 4560280 NOTaREALmerican
NOTaREALmerican's picture

Re:  There's got to be a special place in Hell for these bankster scumbags.

They probably run the place.

Mon, 03/17/2014 - 15:32 | 4560123 PlusTic
PlusTic's picture

aint exactly news...who doesn;t alreeady know (or suspect) this?

Mon, 03/17/2014 - 15:37 | 4560157 HoofHearted
HoofHearted's picture

99% of the US, and about 1% of ZH denizens. Paging MDB and Harry Wanger, for instance...

Mon, 03/17/2014 - 18:36 | 4560909 MillionDollarBoner_
MillionDollarBoner_'s picture

You rang ?;o)

Mon, 03/17/2014 - 15:32 | 4560124 agent default
agent default's picture

UBS is the main reason behind Switzerland's troubles.  And now we have this.

Mon, 03/17/2014 - 15:37 | 4560153 DelusionalGrandeur
DelusionalGrandeur's picture

Yeah we can really count on these guys to tell the truth. WTF.....I agree, I hope there is a special place in hell for these fucking slime ball cunts...no offense to the cunts out there.

Mon, 03/17/2014 - 15:37 | 4560158 Gordon_Gekko
Gordon_Gekko's picture

Premiums (as Avg %) on various 1 Oz coins from various US dealers since June '13 (via http://www.realpriceofgold.com/):

Mon, 03/17/2014 - 15:40 | 4560167 Soul Glow
Soul Glow's picture

What is up?  Gordon Gekko!

Mon, 03/17/2014 - 15:45 | 4560168 SgtShaftoe
SgtShaftoe's picture

I'm shocked! SHOCKED!!! that they would do such a thing.

/s

 

On the other hand, China and Russia could get together and blow up the entire currency market by breaking the gold markets.  It's the equivalent of nuclear weapons in the 21st century against ponzi economies.  Problem is, China is a ponzi too. 

 

On another note, there's a class action lawsuit coming out of the Bundesbank comments about gold market manipulation.  It includes some of the same people that chased after liebor.  Sprott was talking about it last week.  Should be a fun packed year. 

Mon, 03/17/2014 - 15:46 | 4560200 Charles Nelson ...
Charles Nelson Reilly's picture

uh, as long as gov'ts & private bankers control the $ supply it will always be a ponzi.  Nixon just happened to be the asshole who got the ball rolling faster. 

Mon, 03/17/2014 - 15:50 | 4560232 SgtShaftoe
SgtShaftoe's picture

Agreed, but since they've increasingly all but extinguished real market indicators for decades, when this sucker blows, there will be no putting currencies back in the hands of governments.  They'll try, sure.  But it will fail a year or two later.  It's over.  It's just a matter of who triggers the avalanche. 

Mon, 03/17/2014 - 16:21 | 4560367 slightlyskeptical
slightlyskeptical's picture

To who does China owe any meaningful money? There issues are internal and as such can be easily fixed. The rest of the developed world not so much.

Mon, 03/17/2014 - 17:24 | 4560644 Greenskeeper_Carl
Greenskeeper_Carl's picture

"There issues are internal and as such can be easily fixed"

That is not true. Just becuase their issues are mostly internal does not mean they can easily be fixed. China might be accumulating a shitload of gold, but they have a large list of problems that arent easily going to be fixed, massive gold reserves or not. They manipulate their figures probably worse than anyone, and thats saying A LOT. They are going through a potential landslide of defaults, and if those start snowballing, there is no telling what could happen. And they have a WAY overvalued real estate market that could pop at any time. They are trying to gain international trust and recognition for their currency, which will all go down the shitter and be set back years, possibly decades, if banks start going under, or the PBOC starts printing reckless amounts of money to prop them up, and one or both of these scenarios are likely to happen. Yes, I realize I am talking china down while at the same time describing pretty much exactly what the US has done/is doing. But, like it or not, the US dollar remains the worlds reserve currency, which is why we have gotten away with far more reckless behaviour than any rational person would have believed possible. Massive debt, and overvalued assets, combined with several large bubbles, are not easliy fixable problems, internal or not. A lagging US economy such as we are experiencing hurts them too, since they sell a large portion of the cheap shit they manufacture to us, and the american consumer is just about tapped out

Mon, 03/17/2014 - 15:50 | 4560230 Judge Crater
Judge Crater's picture

UBS seems to be the government's favorite target.  For reasons having to do with UBS having the habit of quickly knuckling under to shakedown rackets by regulators looking for a quick and easy score.

Mon, 03/17/2014 - 16:34 | 4560438 Amish Hacker
Amish Hacker's picture

Or shakedown rackets by the US taxing authorities, who brought an end to any semblance of Swiss banking secrecy.

Mon, 03/17/2014 - 15:51 | 4560236 maskone909
maskone909's picture

There are some leaked docs that show conspiracy to commit false flag in ukraine

Basil, you must quickly carry out proactive in Melitopol. There’s 25
aviation brigade. Must stain our sworn friends and good neighbors. I
think you understand me.
Just proceed carefully and cautiously. 25 brigade combat mission out ,
so do not do them much damage to aircraft . There is already damaged
aircraft , that He can do everything. Yihny board numbers you give.
Remember, you need everything to be as real attack of the Russian
Special Forces.
Brigade commander there is a reasonable man. Details of know he will not, but in extreme cases it can turn to. We did come.
Read more at http://www.liveleak.com/view?i=23a_1395063026#o25pJKi0xtGtwXbq.99

Just a sample
http://www.liveleak.com/view?i=23a_1395063026

Mon, 03/17/2014 - 15:53 | 4560247 MFLTucson
MFLTucson's picture

Get Dimon

Mon, 03/17/2014 - 15:53 | 4560248 Seasmoke
Seasmoke's picture

Down $30 off the opening highs. On a day of news that should be up $100. 

Mon, 03/17/2014 - 15:53 | 4560252 williambanzai7
Mon, 03/17/2014 - 15:58 | 4560274 agstacks
agstacks's picture

I wonder if they're pulling the Snowden tactic here.  Just put it out there in the open then let the sheep claim, "We all knew this was happening anyway!"

 

People would rather pretend they know something, then admit they've been wrong for a really long time.

Mon, 03/17/2014 - 16:01 | 4560289 NOTaREALmerican
NOTaREALmerican's picture

Just put it out there in the open then let the sheep claim, "haven't they suffered enough?   I'm sure it was just a few bad apples."

Mon, 03/17/2014 - 16:46 | 4560487 Herd Redirectio...
Herd Redirection Committee's picture

Hiding things in plain sight.  They do it to fuck with the paranoid.  And also because they have chutzpah.

Mon, 03/17/2014 - 16:04 | 4560300 Cacete de Ouro
Cacete de Ouro's picture

Gold Manipulation investigators should look at the following:

- the neverending gold supply created at the Fixing by the Bank of England
- the constant rolling over of central bank gold loans by the bullion banks
- the evergreen gold mining hedging deals with the bullion banks
- the impact of massive OTC gold derivative issuance by the bullion banks
- the ratio of bullion bank unallocated gold accounts to allocated accounts
- the gold for oil deals between the G10 and the Saudis
- the commercial (bullion bank) gold accounts at the BoE, Fed and BdeF
- the naked shorting of Comex gold (and silver) futures
- GLD trading patterns of Authorized Participants
- the percentage of GLD gold stored at sub-custodian Bank of England

Mon, 03/17/2014 - 16:37 | 4560457 Seize Mars
Seize Mars's picture

Amen brother

Mon, 03/17/2014 - 16:15 | 4560344 debtor of last ...
debtor of last resort's picture

Maybe the roachcockers are running out of phyz and they let the price go up in a controlled way.

Like tapering the manipulation. Bitchez.

Mon, 03/17/2014 - 16:36 | 4560447 Seize Mars
Seize Mars's picture

The problem isn't the existence of the futures market in gold per se. The problem is that dealers and other malefactors are allowed to manipulate the margin requirements. Some players are able to "invent" their own collateral through (essentially) hypothecation. So the gold price in futures is just not a function of actual gold supply, and anyone wanting to arb this is swamped by big traders manufacturing their own margins. It's bullshit.

Mon, 03/17/2014 - 16:41 | 4560472 Joebloinvestor
Joebloinvestor's picture

Imagine the price of gold going to $5k an oz in a couple of hours.

WHOO HOO!

Imagine ANY UBS banker going to jail.

Yeah sure.

Mon, 03/17/2014 - 16:51 | 4560500 free_lunch
free_lunch's picture

I just finished reading the ebook "the big reset" from Willem Middelkoop.

The book examens the new reserve currency planned behind closed doors to replace the dying Dollar.

Gold is mentioned often and not as a  barbarous relic, the EU, US and China would be part of this monetary zone, but first they have to allow China to accumulate more gold so the playing field is more equal, otherwise China would not agree to join in. The book reveals a lot of information and quotes: http://thebigresetblog.com/

Mon, 03/17/2014 - 17:01 | 4560546 Cacete de Ouro
Cacete de Ouro's picture

You wouldn't happen to be Willem Middelkoop by any chance?

Mon, 03/17/2014 - 17:38 | 4560715 free_lunch
free_lunch's picture

No I am not, nor do I get payed to plug his book, but he wrote a book that predicted the financial crisis in detail before it happened and he was on television in Holland a lot during the crisis explaining on mainstream TV the Money as debt system. Therefore I value his research and his view on what will happen in the near future..

Mon, 03/17/2014 - 16:55 | 4560522 sudzee
sudzee's picture

I'm sticking to real safety. 100,000.00 savings account gets me 4.50 a month. Bank fees are only 4.00 a month so at least i'm winnin.

Mon, 03/17/2014 - 16:58 | 4560536 pies_lancuchowy
pies_lancuchowy's picture

you must be a PhD

Mon, 03/17/2014 - 16:57 | 4560534 pies_lancuchowy
pies_lancuchowy's picture

One day, all those ETF and certificate owners will go to sleep rich, and wake up poor.

Mon, 03/17/2014 - 18:38 | 4560912 silverserfer
silverserfer's picture

It's under control they got the Hardly boy's on this one.

Uhh I'm getting a raging clue! Its pointing this way!

 

https://www.youtube.com/watch?v=yNgrc8vDp3s

 

Mon, 03/17/2014 - 19:04 | 4561014 SilverIsMoney
SilverIsMoney's picture

I can't wait til this crumbles. Burn, baby, Burn!!!!!

Mon, 03/17/2014 - 21:03 | 4561415 roadlust
roadlust's picture

All markets are manipulated.  There would be no reason for Hedge Funds and Goldman Sachs otherwise.  This is a surprise?

Mon, 03/17/2014 - 21:51 | 4561538 exartizo
exartizo's picture

There has been no manipulation of gold prices.

There has been a Government Volatility Reduction Program to prevent speculation and to prevent private citizens from owning gold at both higher and lower prices for gold.

The government is happiest not when gold prices are lowest, but when the fewest possible citizens own gold instead of stocks or real estate.

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