This Is What Happens When Trying To Get To The Bottom Of The UBS Gold-Rigging Scandal

Tyler Durden's picture

As reported previously, and as had been suspected for years, the gold manipulation cartel is slowly breaking apart, and courtesy of the FT, we now know at least one individual directly implicated in Swiss gold-rigging: the former head of UBS's gold desk in Zurich, André Flotron.

So as part of our diligence, because apparently no other media will touch the topic of gold rigging until and unless it is shoved in their face on a, ahem, silver platter, because after all the subject matter is just too "conspiratorial", we decided to ask Mr. Flotron some on the record questions, and sent him the following email:

Andre, we are following up on the FT's gold rigging story and were wondering if we could ask you a few follow up questions on the record?

This is the response we got:

From: <>


Date: 9 November 2014 17:47:12 WET


Subject: Out of Office AutoReply:


Dear sender,


I am no longer responsible for your inquiry. Please refer to Roger Böhler (

Best regards,


André Flotron


Based on the present E-Mail exchange, and/or on the agreement reached with you, respectively, UBS is entitled to contact you via insecure E-Mail:(a) E-Mails contain substantial risks such as lack of confidentiality, manipulation of content and sender, misdirection, viruses etc. UBS does not accept any liability for damages arising from use of E-mail. Accordingly, UBS recommends to abstain from sending any sensitive information via E-Mail, from forwarding the text received  when submitting reply E-Mails and recommends to manually capture the  E-Mail address in every instance. If you should wish to verify the content of this message, please request a hard-copy version. (b) In principle, UBS does not accept any (purchase) orders,  cancellation of orders or authorizations etc. via E-mail. If UBS  receives such E-Mails, UBS is not obliged to expressly decline them. If you have received this E-Mail by mistake or do not wish to be contacted by E-Mail in the future, you are kindly asked to inform UBS accordingly. Any E-Mail received by mistake (including all its annexes) needs to be destroyed and the content may not be forwarded nor disclosed to any further persons. c) This message is provided for informational purposes and should not be construed as a solicitation or offer to buy or sell any securities or  related financial instruments.


UBS reserves the right to retain all messages. Messages are protected and accessed only in legally justified cases.

To be expected. After all, we know that having been the first person busted for gold rigging in Switzerland, Andre is gone but "keen to return in due time."


So we did as he requested, and sent an identical email to person he named as responsible "for our inquiry", Roger Böhler.

To our surprise, Roger also appears to no longer be at the company. To wit:

This is the mail system at host


I'm sorry to have to inform you that your message could not be delivered to one or more recipients. It's attached below.


For further assistance, please send mail to postmaster.


If you do so, please include this problem report. You can delete your own text from the attached returned message.


The mail system <>: host[] said: 550 5.1.1 <>: Recipient address rejected: User unknown in local recipient table (in reply to RCPT TO command)

Which, in retrospect, should not have been a surprise. It was on July 13, 2014 when the FT reported that:

Roger Böhler, chief dealer at UBS in Connecticut, has been the latest senior trader to leave his employer in recent weeks, people close to the situation said. The reasons for his departure are not known. Mr Böhler could not be reached for comment while UBS declined to comment.

The reasons for his departure are now known. What is unclear, however, is why Flotron, who is on leave with UBS as of January for reasons known, had an autoforward as recently as today suggesting inquiries be addressed to a person who no longer is with UBS.

In other words, good luck trying to get to the bottom of the UBS gold-rigging scandal, where every loose end is now also a dead end.

Perhaps the biggest surprise is that the "suicide epidemic", recently prevalent among various senior executives at Germany's largest bank, Deutsche Bank, hasn't spread to the largest bank in Switzerland headquartered at Bahnhofstrasse 45, Zurich. At least not yet.

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Cacete de Ouro's picture

And UBS has just joined the new LBMA Silver auction in London as a participant...

God help us!

fightthepower's picture

Martin Armstrong is a lying sack of shit!

ekm1's picture

The moment Armstrong had his passport denied few months after getting out of jail, he changed his tune.

The he got his passport.


He is saying things totally opposite to what he wrote during jail time and during first few months out of jail up to the day passport was denied.

I've read every single thing he wrote for 5 years already and I even lost money following his predictions.


He's got good sources for sure. Interpretation is a different story

localsavage's picture

"suicided" Tyler....get it right next time

Pladizow's picture

@fightthepower - can you elaborate?


highandwired's picture

It's all coming apart as we speak.  Everthing is upside down, black is white, and up is down.  Government in Edmonton, Alberta is kicking a 5 year old out of his school because he is guilty of the high crime of being related to his uncle who happened to have a divorce in 2012:

kliguy38's picture

Check the rivers and shallow graves

SoberOne's picture

It really does feel as if the wheels are coming off. 

phaedrus1952's picture

Yes, sober one, it sure does. The accelerating tempo of all this is what concerns me greatly.

stacking12321's picture

class action lawsuit being prepared against the gold riggers:

Latina Lover's picture

Nothing will happen. The courts are controlled by the fascist elite.

NoDebt's picture

Andre Flotron.... sounds like a Dave Chapelle character.

g&#039;kar's picture

---> I won't buy gold or silver again until they hit their 2002 prices

---> I won't buy gold or silver until again they hit their 2002 prices

Manthong's picture

I suggest that the scrounge becomes familiar with products manufactured by Gillette.


philipat's picture

Regarding "suiciding", the UBS Building in Zurich is not very tall. So they need to be "Promoted" to NY or London first...

old naughty's picture

Andre is wishing same fate as Roger (living faded)...

so no reply yo ZH.


Ahem, what fate was Roger's?

g&#039;kar's picture

I'd recommend Pat Benatar's "La Bel Age"

cnmcdee's picture

Dilute Forumla 0.5% / day of QE

1% Physical + 99% Certificate Paper = Futures Market.

Phys is not Paper like Butter is not Margarine.

I guesstimate the ratios  - as soon as we know the real dilution maybe someone can figure out the real value

Gold dilution estimate

Total Money inside United States (Federal Reserve Money Stock Measures) - Sep 2014 :

2.855 Trillion M1 + 11.473 Trillion M2 = 14.328 Trillion

If the 'gold reserve' was to return we would assume the US '7400 tons' or 238 Million ounces would represent all money (14.328 Trillion)

$59,823 / ounce.

Current Price $1180

Dilution Ratio : 50 : 1

But we know they do not have 7400 tons of anything but bullshit.

 - Audit suspects fort knox has Tungsten bars - real reserves inside United States at Federal New York Banks 433 tons

When we apply that back to the 14.328 Trillion we get :

1.027 Million dollars / ounce

Dilution Ratio : 1000: 1

In otherwords:



Therefore the US dollar is overvalued 1000:1 in historical terms and I suspect that very very soon the correction will begin.



cnmcdee's picture

... Now ... like TODAY is a good day to go looking for physical.  If the dealing desks are stupid enough to sell it for the discounted diluted 'futures market' when the paper:phys ratio is at least 100:1 whoever is buying gold in this rout is GOING TO MAKE A SHIT TON OF MONEY IN 24 MONTHS.

meterman's picture

And just where do you get the "24 months". All PM talk is just BS by crooks that want you to destroy your wealth by purchasing their crap metal. There is no PM market - just manipulation.

cnmcdee's picture

I just realized - everything in US dollars will loose 90% of it's value in the coming crash. aka real estate etc.

So a house at $300,000 will go back to $40,000.

But Gold will not! It will appreciate in value to $3000/ ounce while everything else drops 90%.

Gold is the escape vehilce from the coming carnage people - BUY EVERY OUNCE YOU CAN GET YOUR HANDS ON NOW.!!

Meanwhile India, Russia and China who wisely bought up 1000's of tons are going to come back into America and buy everything up for pennies.


cnmcdee's picture

This is why <Greenspan> is suddenly coming out and saying to buy it. - the Old Bugger knows!  It's his way of 'repenting' by warning us to get out of all US dollar denominated assets.  Gold is one of the only mechanisms that are going to survive the coming collapse.

tmosley's picture

Lemme dolla at ya.  Dolladolladolla.  Dolladolladolladolladolladolladolla.

Dragon HAwk's picture

Yup like the end of a Good book where things start falling into place, and things get revealed

BigJim's picture

If we'd all been into this shit 50 years ago, we'd probably have been saying that since 1971.

I've only been into this shit since 2007... and since then it's felt like the wheels are about to come off every week.

Have they? No.

I think I may have doom fatigue.

conscious being's picture

Observing the 9-11 spin vs. numerous observations that said otherwise let in the crack of daylight that got me free.

Eternal Complainer's picture

So, why is he still allowed to attend a different catholic school?

Court order -> Extended Family-> expel child from St.Basil's - > yet allowed to attend St. Dominique.

Makes absolutely no sense.

highandwired's picture

Because the stupid judgment only applies to one school:  St. Basil.  The whole thing is absurd

willwork4food's picture

No it's not if you understand what these religious nut cases wrap up doctrine with. After being around it for years in my family the only thing that surprises me is that it wasn't a  private Baptist Church school that had that as their "law".  Gotta be careful not to let in the rift-raft, doncha know.

Stockmonger's picture

That guy in Edmonton is a nut job professional victim who likely deserved his restraining order...proof:

It's a shame that his son has to suffer for his mental illness.

highandwired's picture

That's exactly the point, why is the child suffering for the stupidity of the courts? 

Stockmonger's picture

Who says the courts were stupid?  The principal of the private school said he was not allowed within 25M of the school--suggesting the private school got a restraining order against this nutjob and kicked his kid out.  Most likely for his own behavior as well as his brother's.  We don't know the true situation, and the recording showed he was being a liar.  Notice that they transferred the child to a different school.

There are plenty of examples of government overreach without lending support to whack-jobs.

conscious being's picture

Ekm said it all and said it well up thread, re. poor Mr. Armstrong.

Stoploss's picture

He looks like a nailgunner. Maybe a 'jumper', but definitely not a 1 inch water puddle drowner.

zipit's picture

I see him hanging.... in flesh-colored latex gimp suit...  with object inserted.  Oh, wait, that's already been done:

BigJim's picture

Wow. The rich really aren't like the rest of us, are they?

effendi's picture

All banksters should recieve a Stern warning.

stacking12321's picture

The death of Édouard Stern was directly parodied on the FX animated series Archer in the third season episode "Lo Scandalo".[15]

Buck Johnson's picture

I didn't know that, I guess once he got that passport everything changed.


btb2010's picture

The end are on the "loose" - they are not yet "dead"--"In other words, good luck trying to get to the bottom of the UBS gold-rigging scandal, where every loose end is now also a dead end."

ekm1's picture

You guys are just too cruel.

Bravo, bravo.

Excellent work done. 

fockewulf190's picture

32 year career and then your chopped off like a gangerous foot...only because you got caught.  I wonder if he will vote yes in the upcoming Swiss referendum regarding gold. I think he will.  If the SNB has to purchase a shit load of gold, they are going to want to be getting it as cheap as possible, and banksters like this guy are just what they are going to be looking for.  Expect a change on his Linked In page if the yes vote wins.

NoDebt's picture

"32 year career and then your chopped off like a gangerous foot...only because you got caught."

Getting caught is the only unforgivable crime in the banking biz.

The Duke of New York A No.1's picture

Looks like the Rabbit holes goes very, very deep;

Kirk2NCC1701's picture

There's a reason they're called "United Banditos of Switzerland".