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"A Clear Attempt To Manipulate Fixes In The Precious Metal Market"
Just in case there is still any confusion, here is Reuters to clear things up.
Swiss regulator FINMA said on Wednesday that it found a "clear attempt" to manipulate precious metals benchmarks during its investigation into precious metals and foreign exchange trading at UBS.
"The behaviour patterns in precious metals were somewhat similar to the behaviour patterns in foreign exchange," FINMA director Mark Branson said in a conference call with journalists.
He said that as UBS has precious metals and foreign exchange desks under combined leadership, it was not surprising to find similar behaviour.
"But we have also seen a clear attempt to manipulate fixes in the precious metal market."
Luckily, it was only at UBS. As for Andre Flotron, who is "keen to return in due time"... don't hold your breath.
Now all those traders who lost money with UBS on the other side, will get their money back right?
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Fuck you Martin Armstrong!
COMEDY chart of the day
http://2.bp.blogspot.com/-1706ZkAV0hM/VF1u2vcV-QI/AAAAAAAAZoo/kVrcPwu6lm...
So ~ Daneric has gold dipping to the $400's when DEFLATION sets in.
Save your powder bitchez ~ LOL
Armstrong = Douchebag
Potemkin Village
But... but... but.. Bart Chilton said there wasn't anything bad happening.
Who would trust that douchebag with that bleach blond hair............He's a lying SCREWBALL
I thought Chilton died in the first Die Hard.
The whole rig is possible because they trade 200 million ounces gross trading volume of gold daily on the LBMA.
This is suposed to be a 'physical' market.
Anything can happen with the price when you are trading virtual gold with the BofE helping fill the gap whenever physical demand comes into play.
If one looks at the longer term chart and puts in a normalized inflation ramp (consistent with the post 80 high years), it looks to me as if the price should normalize between $650 and $850. However, an overshoot low of $400 is not out of the question.
The only thing that keeps price up is the "fix", supported by the illusion of scarcity. As with diamonds, above ground gold is not rare, only our knowledge of the past is rare.
If this were true, I'd think you'd be awash in "above ground gold," what with you being so informed about the abundant supply. So, how's that going for you?
10:1 Armstrong comes back with the comment that the manipulations were in a different direction than what gold bugs claim.
"I have never seen a single instance where price manipulations were to the downside. They are always to the upside."
Dat backpedalling.
Dat full retard.
https://www.linkedin.com/pub/chief-tutu/a4/1b2/9a/nl
This is the linked in page of Chief Tutu.
Chief Tutu is a Chief of Abuakwa Gold Area and CEO of Investor Gold Mines
You can buy gold from him at a serious discount!
You know... the kind you see on the picture...
:)
Martin Armstrong is a fat brainless toothless crack addict. Fuck him and the shill wagon he rode in on.
https://www.youtube.com/watch?v=i_F4ldgdPVk
what do all those smug cocksuckers giving Peter Schiff grief have to say about this... BUT BUT BUT...
Hang them on a cross of gold....it's time.
Any ancestors of William Jennings Bryan are exempt....everyone else.....line up.
See, gold isn't useless after all.
There are other similar uses too:
http://youtu.be/6_hZT_jl6lY?t=3m15s
Governments have to get back their bank bailout money somehow. What better way than dripping out penalty fees over a long stretch of time. Plus it gives the illusion the state is defending justice and the interests of the citizens over the banksters. Perfect.
Anyone with one fuctioning brain cell can see the overt manipulation of precious metals everyday
Maybe the Bank for International Settlements could find room for Mr Flotron on their preciuos metals desk in Basel?
Last I heard he's got the CFR and the IMF in a bidding war.
If it gets to crazy....the BIS might have to step in.
Seems like a bunch of BS to try and get people to think its safe to trade PMs again... The manipulation is on going and still happening this very minute. Dont worry though they wrist slapped some folks and now its all better! Jump back into our rigged markets, you'll be fine!
Ha!
I'll just keep stacking you bastards!
That's a face only a fist could love.
"Andre Flotron"?? Sounds like the name for an algo.. Lol
Sounds like an electronic turd...
They always have this weird names, almost as if they know one day they will have to disappear.
I suspect related stories will appear for a multitude of markets in coming months, but the bottom line seems clear: we lack both the number, and sophistication, of enforcers to construct a more level playing field. Add to it the monetary incentive for exchanges to favor manipulators, and it seems we're still a few years away from making significant inroads. At least Nanex proves 'good guys' exist with the tools to shine a light, eventually forcing the issue from regulators (?) One can only hope ... but for now nothing more than hope . . .
You forgot the over-arching, lacking factor: will.
Question still remains. Where the God Damn Class Action Lawsuit against these Criminal Sociaths?
Over 3 million refugees have fled Syria, 10 million others displaced as new peace plan proposed
Go away, blog pimp.
Flotron is so cocky he does not feel the need to shave for his UBS headshot.
I think what TPTB are showing us is that is not a level market anymore....and to behave accordingly...they own it now....and we will never get it back...the fix is in..forever
I just sent this basTARD a thank you note through LinkedIn for the manipulation efforts that have helped me accumulate a larger position in the metals.
These dummies made a few bucks, which will become worthless. But their actions caused western gold and financial power to flow East and caused the West to lose its future. So they can slap each other's backs and pretend like they are masters of the universe all they want. They are idiots. Their actions will have serious consequences for everyone else. That gold they stole, borrowed or promised is gone forever. Setting the price too low was not in the best interests of the nations involved. And they will pay a dear price.
A few protests outside these clowns residences might make a diff.
Gold Bitchez....I pick up pennies
Just to step back a second ...
Doesn't the term "fix" and the method of arriving at the price (which was set inside the Rothschild offices for years) imply that the price is artificial to start?
The fix is not a market price. It is a price set by an individual or group of individuals for a purpose.
... manipulating a manipulated non-market price. To quote Hillary "what does it matter?"
I like Hillary and Ticks.
Can anyone suggest good place to buy gold coins..??
From what I've read, the South African Krugerrand seems like the best way to go. Just looking for a reputable dealer with a reasonable mark-up.
Sold a condo and looking to finally dip into the gold market (along with buying puts on the XLF)....
Any help or insight appreciated....!!
If you're in Canada you could use
Silvergoldbull.com
http://silvergoldbull.com/silver#gold;coin;;price;asc
Or
Border Gold.
Buy online and have delivered
http://www.coloradogold.com
If central banks own the vast majority of gold (need info/correctoin here) and central banks don't want gold to rise do central banks not have complete power over the price no matter what?
For example, the Fed wants gold to drop so that money goes into their friend's pockets via stocks. The Fed then sells gold at below market rates to the ECB, who will gladly print some money in order to buy said gold. Repeat, but in reverse. Gold goes down, down, down as the main owners sell for less and less but their supply doesn't diminish becasue they buy back and forth from each other.
How can this not happen?
Update: The Google found the below numbers here http://www.numbersleuth.org/worlds-gold/
Who owns the world's gold? 52 percent gets used for jewelry, 18 percent constitute official holdings (as in central banks of nations), 16 percent take the form of investments, 12 percent find industrial uses, leaving 2 percent unaccounted for.
Farmer Joe, Buy old gold coins in your country of origin, (for tax reasons). Safest option.
If you are in USA buy american coins, if you want some advice I massively recommend andy gause. You can hear him on one radio network every wednesday morning and all of his two hour interviews are available on podcast.
You can buy coins direct from Andy he has a business in Newark links provided on one radio network website.
THank you...
www.comparegoldprices.com
RIPS
Harry Dent says gold is going to $250, based on cycles theory. While he does have some interesting perspectives based on his cycles theories, I can't imagine how that could be possible without every mine shuttering or being nationalized and subsidized by their government to produce way below cost.
Sure......as we go trillions in debt every year.
You'd be crazy to try to save yourself with real money.
I'm starting to suspect Harry Dent doesn't give a damn what happens to you.
So Henry Dent is thinking that gold will follow Bitcoin.
Please contact him and tell him that I'd like to make a substantial wager that it hits $2000 first.
It's hard to root against a hairy dent, but I'll take Harvey Organ's hard stance on this one. Gold will hit $2K faster than it sniffs $750.
mines will be nationalized through higher royalties/taxes then miners goes away - write downs will also kill a lot of these miners, more of it will come.
Assuming we're talking about gold here (certificates that is), not Gold (physical that is) , I'll predict gold (with a small g) goes to Zero (with a capital Z).
Union Bank of Satan trading routine.
This is it.
Swiss regulator FINMA says this? A few weeks before the vote?
Maybe I'm wrong, but wouldn't that tend to favor a yes vote? Wouldn't the Swiss be more inclined to want to get the actual gold in their hands, if it is being manipulated by outside forces? At least enough of it so they have some say in pricing?
I don't know...these days up is down. But that is what I'D be thinking...