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The History Of The London Silver Market Since 1600
In honor of the end of the one of the most infamous price manipulation cartels in precious metal history - the London silver fix - below we present (pdf) the full history of the london silver market, from 1600 all the way until the year 2000. There is just one more event to add to the timeline: 2014 - the end of the silver fixing cartel (and its replacement with the BIS manipulation cartel?)
h/t @maxharpic
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Amazing how much effort goes in to fucking with the free market
the fix to me is window dressing, but I'm glad to see it go. The issue about dumping quillions and dillions of ounces onto the market when everyone is in bed is in my view a much more material manner of manipulation.
It is all about what Masters of the Universe have decided ...
thats the only reason for PM, and thats why they have been around for thousands of years.
Thats the reason BoA and Morgan Stanley declared 1300 two weeks ago at 1298 .... they had advance notice.
Make no mistake about it, there is a detailed plan going on...
There are already 5-6 commodities exchanges coming on or already in place mainly in Asia.
What The price WILL BE ?
it will be according to what market states: basically you have PM to sell, bring it and we will sell it for what the other person will buy ... dont hold your breath about 1500, 2000 or whatever, these people owned it all and they are GREEDY
Kennedy was taken out because of his desire to remonetize silver. Although these developments are positive, I think the corrupt bankers will do anything to maintain a fiat system, including taking people out. We're dealing with incredible greed here, and these asshole central bankers are completely lawless people.
Kennedy was assassinated in 1963. Silver wasn't taken out of coinage until 1965. If this was that to which you were referring, your argument has a chronology problem.
Funny Bloonberg didn't mention anything about this...
give me a break people ... kennedy was there because of his father ... just an innocent bystander.
these people have ruled the World for centuries .... with an iron hand!
keep your eye in the ball ... kennedy, bushes etc. even not as footnotes ,,,,
america just hekd the torch for a hunderd years or so ... time to move on ... thats all...
Check the link below. It is solid and quite readily dispels the EO11110 myth of Kennedy taking on the bankers.
You see, HE already had to power to issue silver certificates. He merely DELEGATED this authority to his Sec Treasury, Douglas Dillon:
http://www.freedomforceinternational.org/freedomcontent.cfm?fuseaction=j...
pods
http://www.amazon.com/Billie-Sol-Estes-Texas-Legend/dp/B000ANCGGS/ref=sr...
:)
JFK was a piece of shit. Any of these events ring a bell? Bay of Pigs, Vietnam War, Cuban Missile Crisis (No, I don't give JFK points for this because the US instigated the whole thing by adding missile sites in Eastern Europe). No wonder why the libtards love him.
he really was, banging all that ass, hoplessly addicted to drugs, his fake marriage of convience rivaling the clinton's. he was a total diaster
"because the US instigated the whole thing by adding missile sites in Eastern Europe). No wonder why the libtards love him."
How history repeats itself.
+2000 year all time silver high was in 1477, meaning $1,168 by current value
http://charts.stocktwits.net/production/original_2267507.png?1340672170
http://www.usinflationcalculator.com/
pods,
Thank you for exposing this myth. I'm tired of hearing it repeated.
Well I am just the messenger. The only thing I exposed was....Uh, nevermind.
He began to issue silver certificates that looked like dollars but were redeemable in silver coin. They were a slightly different color than a clown buck.
My granny gave me one when I was a kid, but it got lost or spent somewhere.
My wife has one. The ink is more grey/blue than green.
Yes indeed. Thanks!
"...that looked like dollars"
Congratulations, you won today's unintentional comedy award.
"clown buck"
Kennedy never began anything. There were alwasy silver certificates in circulation, as well as US Notes, well for as long as Kennedy was alive.
http://en.wikipedia.org/wiki/Silver_certificate_(United_States)
pods
Executive Order 11110
Sorry, EO 11110 was not what you think it was.
http://www.freedomforceinternational.org/freedomcontent.cfm?fuseaction=j...
(G. Edward Griffin)
JFK was a piece of shit. Any of these events ring a bell? Bay of Pigs, Vietnam War, Cuban Missile Crisis (No, I don't give JFK points for this because the US instigated the whole thing by adding missile sites in Eastern Europe). I won't even mention his heavy drug use and numerous affairs while in office.
Kennedy started printing US notes like Lincoln did. Funny both had the same outcome.
SECTION 1. Executive Order No. 10289 of September 9, 1951, as amended, is hereby further amended (a) By adding at the end of paragraph 1 thereof the following subparagraph (j):
'(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of an outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,' and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
John F. Kennedy,
THE WHITE HOUSE,
June 4, 1963.
Needless to say, after his assasination the silver certificates were never circulated.
Kennedy had the power to issue silver certificates (or more correctly to order the treasury to do so).
EO 10289 Section 1 are presidential powers delegated to the Sec Treas.
EO 11110 merely added issuing silver certificates to the delegated powers. If Kenendy were to be fighting the bankers he would not give away this authority to the bankers.
http://www.archives.gov/federal-register/codification/executive-order/10...
pods
You're right, but it makes such a better story the other way.
It was a story I wholeheartidly believed until I ran across G. Edward Griffin's dissertation on the subject.
Oh well, another hero fails, such is life.
pods
JFK was a piece of shit. Any of these events ring a bell? Bay of Pigs, Vietnam War, Cuban Missile Crisis (No, I don't give JFK points for this because the US instigated the whole thing by adding missile sites in Eastern Europe). I won't even mention his heavy drug use and numerous affairs while in office.
Why do the likes of JFK and FDR get so much love in public school??? Hmmmm. I wonder.
Lemme guess...you're a repub-tard? You know why there's intervention in the markets? Reagan. The Champion of Free Markets issued Executive Order 12631 to prop that shit up and pave the way everything you see here now.
There is no Red Team or Blue Team....only the Deep State.
No, I am not a republican. I was bashing a shitty US president named JFK. I didn't mention democrats or republicans. Funny how you have EO numbers ready to go to bash another shitty US president named Reagan. Seems strange to me.
"Lemme guess," you are a closet democrat who pretends to be an independent. Fuck off, loser, but before you do, be a man and apologize.
Subparagraph (j) is meaningless without the context.
See PODS' post above.
Sorry that ain't the reason.
The Treasury stopped selling silver in 1961 because of the repeal of the silver purchase act. Kennedy used an executive order giving modifying an older Truman executive order that already had defined what the Treasury Secretary could do without approval of the President. The idea was to give the Treasury Secretary power to issue silver certificates against excess silver reserves not already promised to outstanding certificates and to also take that excess silver and mint coins out if it like quarters for example for those newly issued certificates to be redeemed against, it didn't give the Treasury permission to purchase more silver.
https://en.wikipedia.org/wiki/Executive_Order_11110
...
President Kennedy's Executive Order (E.O.) 11110 modified the pre-existing Executive Order 10289 issued by U.S. President Harry S. Truman in 1951, and stated the following:[13]
The order then lists tasks (a) through (h) which the Secretary may now do without instruction from the President. None of the powers assigned to the Treasury in E.O. 10289 relate to money or to monetary policy. Kennedy's E.O. 11110 then instructs that:
...
If there is any FED conspiracy here it is they wanted the Treasury to sell them the excess silver reserves directly instead of putting it out on the open market first and in turn increasing the money supply and bypassing the FED and their monetary policy in the process. That you could make a case for since the executive order was never recinded until Reagan. For all we know the Treasury did keep issuing silver certificates against that excess silver that whole time but only to the FED as collateral to issue reserve notes aka 1 and 2 dollar bills.
Amazing how much effort goes in to fucking with the free market
Begs the questions......
1: When has it ever been free?
2: If it is so easy to fuck with.....why do we still call it free?
Amazing how much effort goes into fucking over 99% of the worlds population
1998: Blade usess silver hollowpoints filled with essence of garlic to take down Deacon Frost.
DHS plans to purchase 1,000,000,000 of them for study
If you were a cartel of vampires, what would you do?
Blade forgot to pay taxes on his capital gains from selling silver.
how will this affect SLV?
How does this timeline omit the crime of 1873 when the U.S. government, unconstitutionally, changed the U.S. from a bimetallic standard to a gold only standard?
How do you forget that? Oops! Really?!?
And the item at 1926 on the right side of the time line is also ridiculous. "India" dumps massive amounts of silver on the market. India, huh? Who the fvck was running India at that time? Oh. Yeah. The UK. It should read "Indians forced to dump their silver on the market by the British, crushing worldwide prices and fatally wounding the economy of China in the process."
Revenge for the Chinese only accepting silver for purchase of tea from them. Getting them hooked on drugs aka opium as payment once they didn't have enough silver to pay for the tea to keep up with demand still didn't get the Chinese to part with the British's silver (now owned by the Chinese).
Important lesson here because history may not repeat but it sure does rhyme. If anyone thinks a gold backed PetroYuan axis tries to take hold against Petrodollar you can probably expect the same playbook to be used here.
"In all calmness and deliberation I consider that the action of the international bankers in demonetizing silver and virtually destroying the purchasing power of over 800,000,000 people was one of the most brutal acts ever committed in history." ~ Senator William Borah, sometimes called “The Lion of Idaho”
in the New York Times, October 13, 1932
Gosh for such a worthless relic, silver sure has a lot of history.
"your argument has a chronology problem". No it doesn't, things like that don't happen over-night
I don't believe any manipulation is ending.
It's not. "The fix" headline is just to shut the complainers up. Wake me when they can't create multiple contracts at will for the same lot of silver.
Ya I said the same thing in the other thread. This is an interesting development, but that's not what drives the prices down, it's the dumping of millions of ounces while everyone is asleep and there is no volume. This does nothing to stop that. Until people start demanding delivery of the futures contracts, forcing a comex default, this really doesn't change anything.
moar #boatingaccidents
The London fix has been replaced with the paper Silver market, which the big banks can manipulate at will behind the scenes.
I have read that China intends to increase the coverage of their electrical grid by an amount equal to the entire American grid as it now stands.
Completion date is 2020. This will require a horrendous amount of silver to accomplish. All we need to do is wait.
We lucky band of silver holders will have our day.
I'm having my day right now harvesting stock market gains thanks to the fed and buying silver at suppressed prices. The only thing better is maxing out the charge cards, buying Pms, and defaulting.
"The only thing better is maxing out the charge cards, buying Pms, and defaulting..."
that is so sexy....
disclaimer: im not gay!
Very good historical synopsis! Thanks.
Imagine how much the Silver insiders have stolen from the market via their tricks and games over the last 414 years?
Interesting to see the origin of Mocatta in Scotia-Mocatta (of Bank of Nova Scotia or ScotiaBank)