Bill Murphy: Silver – All about the Physical Market; Takin’ These Bums Out!

Sprott Money's picture

 

 

Bill Murphy: Silver – All about the Physical Market; Takin’ These Bums Out!

Posted with permission and written by Rory Hall, The Daily Coin (CLICK FOR ORIGINAL)

 

 

Bill Murphy: Silver – All about the Physical Market; Takin’ These Bums Out! - The Daily Coin

 

 

 

When you dedicate yourself to a project for 17 years, as Bill Murphy, GATA and LeMetropole Cafe, has, it must to be a joyous occasion to see the beginning steps of justice being served.

On April 14 Deutche Bank (DB) admitted, in a court of law, their precious metals desk had been rigging the silver market and as the information began to surface it was also discovered that DB had been rigging the gold market as well. This is only the beginning.

The members of GATA, namely Bill Murphy and Chris Powell, have been presenting evidence of precious metals market rigging, to the world, for close to two decades and now we find that one of the largest banks in the world has been participating in this market rigging scheme. The real question is: will justice be served? Or will DB simply pay a fine, as Goldman Sachs did for the out-right theft and fraud that created the mortgage crisis that began in 2008? Only time will tell, but for now, the facts are on the table and the precious metals market rigging can no longer be denied by anyone.

They’re manipulating the silver market and then gold market; they’re going to turn on the other banks…the rats are cornered and it really could be quiet exciting. What it will really mean? You gotta wonder because of the way silver is trading so differently. Something is going on. Bill Murphy

One of the more interesting aspects of all this is the timing. I no longer believe in coincidences so the timing is very curious. On April 19, 2016 the Shanghai Gold Exchange (SGE) will begin offering physical gold, at spot price, but instead of the contract being settled in dollars it will be settled in yuan (Renminbi), the Chinese national currency. This will provide an alternative for companies and bullion traders around the world to acquire physical gold at the current stated spot price. This has huge implications for the current gold and silver markets that operate in London and Chicago. These two markets, over the course of the next year, will be impacted as more people begin using the new SGE physical gold market. We can only hope the impacts is a tipping point for the precious metals markets.

The big deal will be them turning on each other and what comes out publicly and what reaches in the public domain and so on. Five years the CFTC looked in to what Morgan, what was going on in the United States. What did they find? Nothing. What’s going here, pick a number, 10, 50 times bigger than what Deustche Bank has been cited for. It is off the charts what is being done here. Bill Murphy

In October 2015 the Yuan was added to the International Monetary Funds (IMF) fiat currency basket, Special Drawing Rights (SDR). This allows the yuan a global presence and allows other nations to trade yuan currency like the Euro, Dollar, French Franc, etc. As you can see currencies, gold (gold is money) and silver (silver has been money longer than gold) are experiencing massive changes in a highly compressed timeframe.

 

As the ramifications continue unfolding let’s celebrate this victory with all the other tinfoil hatters who have supported GATA, Bill Murphy, Chris Powell and all the others, as the world now knows their money (gold and silver) have been rigged by the banking cartel. Another blow to the banksters. These criminal organizations have duped us long enough and it is high time these criminals began serving prison time for their crimes against humanity. Maybe one day justice will be served and these people will know what it means for their entire families wealth to be evaporated as they have done to so many around the world.

 

 

 

 

Please email with any questions about this article or precious metals HERE

 

 

 

Bill Murphy: Silver – All about the Physical Market; Takin’ These Bums Out!

Posted with permission and written by Rory Hall, The Daily Coin (CLICK FOR ORIGINAL)

 

 

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Jungle Jim's picture

Was the plunge in gold price today _the_ "raid," or is that going to happen *next* week? Right now this big Shanghai Exchange thing looks like just one more big dud, another flash in the pan, full of sound and fury, signifying nothing. A teeny-tiny litle blip of $20 or so, lasting 24 hours or less. Then, the inevitable "correction."

Squid-puppets a-go-go's picture

JJ, I'm nt sure what you were expecting, like, an overnight revaluation to $10k ?

watch now. If the chinese had no intention on having the shanghai price diverge from lbma, they wouldnt have bothered going to all the trouble of creating their own fix.

Think of the incentive. China still wants to accumulate gold on the cheap if it can -so all it will do at least for 6 months is to offer a small premium over what the West is offering. It can still buy cheaply, while investors sing the arbitraged premium buy gold from the west and sell it to the east. The western central banks will then go 'Fuck if we dont raise our rice to match shanghai the coffers of the west will eventually be EMPTIED.

TsyFox's picture

So now that we have not seen the 'Overnight Revaluation' to $10k, Can we file complaints against Sprott Money for 'Market Manipulation'??

Jungle Jim's picture

Was the plunge in gold price today _the_ "raid," or is that going to happen *next* week? Right now this big Shanghai Exchange thing looks like just one more big dud, another flash in the pan, full of sound and fury, signifying nothing. A teeny-tiny litle blip of $20 or so, lasting 24 hours or less. Then, the inevitable "correction."

Herdee's picture

There was no evidence of manipulation in Chicago right Bart?ah-oh,Here's Bart at his best.Pure con-artist all the way.

http://www.cnbc.com/2015/03/16/flash-boys-claims-a-big-lie-bart-chilton....

oncefired's picture

We really need to take old Bart out and get him Shit-Faced Drunk and once he passes out........ We give him the BUZZ Cut! The guy looks like a throwback from the 60's!

Knight who says Ni's picture

The Chinese will have a vested interest in suppressing the metals prices UNTIL they have enough to back the Renminbi with Gold.  At that point they will let the price of the metals rise to devalue the RMB while they liquidate their Treasury holding.  In that move they a) make the Yuan the 'safest' currency in the world and further their goal of replacing the USD as the World's reserve currency, b) devalue it as much as they want because they can drive the price of gold higher and c) have the US by the balls on Treasury liquidation which will allow them to dictate terms on what the USD/RMB exchange rate is.

The USD will end up tied to Gold, just not in the way they think...

This will also force the US to come clean on their actual gold reserves btw...

oncefired's picture

Nobody actually knows how much gold China really has. They have already been quietly liquidating Treasuries. They may already be in position to back their currency with gold but will not pull the trigger until the most opportunistic time. They are just sitting & watching Grandma Yellen digging a big hole....Profusely Digging a Big Hole! They may wait for a time when the ABC Agencies can no longer rig the numbers and the US slips into recession (of course we are there) for maximum impact. To many moving pieces with Russia ready to follow, Saudi Arabia threatening, Japan ready to go down the toilet and the EU fighting with Germany over more QE!! We really need to find a Soothsayer!

BobEore's picture

Exactly 13 months ago, the day that "would change the world forever" dawned. The "new London Gold Fix" - with the "Chinese banks" which were going to rewrite the rules. Everyone yawned - after all the histrionics had died down.

Everyone actually paying attention by this time already knew - the biggest fibbers of all were those who for 5 years had constantly embellished their stories involving throw away lines like

"as the world now knows their money (gold and silver) have been rigged by the banking cartel. Another blow to the banksters. These criminal organizations have duped us long enough and it is high time these criminals began serving prison time for their crimes against humanity"

designed to distract the attention of those with something at stake in the gold&silver market from what was really going on. This manipulation of the manipulation narrative took the heat off of Mr Big Short, and allowed for the charade to continue, all the way to the present.

It was brilliant. On the one hand, paint the Chinese as white knights riding in to save 'free markets' and the physical price, while on the other, lay the blame for the paper farce on western banks and their associates. If anyone ever tried to point out that the two were working together - organizing a gigantic shift of wealth and influence from west to east, you get your minions to call them 'trolls' and 'government agents.' Worked like a charm.

And no, it's not a coincidence, indeed, what is happening at the moment. It was always clear that the time would come when the charade could be ended, and the curtains rise on the biggest heist in history. Except to the cadre of "precious metals analysts" and those who drank from their poisoned punch bowl.

The Chinese learned from the masters - of the universe - and are ready to put the squeeze on shiny so tight it will burst eardrums. Instead of making certain western "bagholders" RICH! RICH! beyond their wildest imaginings! There will be no need for "free price discovery" or "fair market value" in what's shaping up - anymore than there was in the previous go round. 404/that page not found. Sorry bout that!

Crisismode's picture

 

 

One of the most idiotic posts on ZH ever.

BobEore's picture

I disagree. That post was just the same as a hundred others like it here - neither more or less idiotic a repetition of a failed story line designed to distract attention from the workings of the "gold market."

Perhaps you were just having a bad day.

ebworthen's picture

Judas hung himself over betraying Jesus for 30 Silver coins.

Just a historical reminder for you Silver manipulators.

MFL8240's picture

Why are there any out of court settlemsnts?  Why dont they allow the judicial sytemn put these criminals in prison pennyless?  Is Madoff the only sinner?

Memedada's picture

It started with the whole ”neo-liberalism” thing. It should be called “anti-liberalism” – the classical liberalist made a very important distinction between earned income (profit and wages) and rentier income (rents, speculation, price inflation on assets you own, copy-rights/trademarks, derivatives etc. etc.). The latter was, rightfully, seen as destructive to the former = the latter should be minimized or dealt with (at that time especially the “Land lords”/rest of the feudal class) and the former expanded.

What we have today is just one big interconnected Ponzi scheme – sucking wealth from the bottom towards the ownership-class in the top. And it’s all held together by their “fiat”-illusion.

Gold and silver are one way of giving the finger to the banking-sector. Buy it – not as an insurance for economic collapse, or an investment, or pension. Buy just to give the finger at the fiat-establishment.

 

NoBillsOfCredit's picture

Saying "earned income" is like saying "dog cat", there is NO SUCH THING! Income is a profit or gain, while "earning" means to receive compensation for one's labor. Your incorrect use of words confuses you and your readers and thus you are wrong and controlled.

Memedada's picture

Your comment added nothing. But maybe (for the slow people ”in the class”) there’s a need to clarify my comment: there was (in classical economics) an important distinction between “active” and “passive” income (=did you produce something or not – did you add something of value to society or not). Today it’s all numbers – there’s no underlying fundamentals behind the numbers – 600 trillion fiat (or something) in the shadow banking system does not transfer to 600 trillion of wealth. That’s my point.

And I’m not a native English speaker (it’s my third language) – but that shouldn’t disqualify my arguments by focusing on semantics.

In the Danish and German language we have that distinction of earned and unearned income - apparently some English speaker do to (like Hudson above).

 

Nage42's picture

In the old days (i.e., pre 1990), a landlord would need to take risks to build capitol enough to have "spare" housing to be able to rent it out.  The value he provides is access to something that takes work and years to build that the rentor was unwilling, or unable to do for himself.  It's paying a fee to gain access to something beyond one's native capabilities.

This theory used to be how banks worked too, but their lending practices have changed by deregulation.  A bank now does not lend out capitol (take a risk of it's earned capital), but rather opens up a chequing account in your name and kites a cheque from you to the sellor with the liability actually gaurenteed by someone else (hint: the public by bail-out).

So, a rentor that took risk and provides a service = earned income.

A bank that takes no risk and fools people on how cheque kiting works = un-earned income.

 

IMHO of course. 

Memedada's picture

The common denominator among all of the classical economists was the distinction between earned income and unearned income. And the unearned income was rent and interest. The earned income were wages and profits. Well, John Bates Clark came and said, there’s no such thing as unearned income. The landlord actually earns the money by taking all this effort to provide a house and land to renters, and the banks that provide credit. Their interest–every kind of income is, everybody earns their income. So everybody who accumulates wealth, by definition, according to his formulas, get rich by adding to what is now called gross domestic product[...]money is not a factor of production. But in order to have access to credit, in order to get the money, in order to get an education, you have to pay the banks. And at New York University here, for instance, they have Citibank, I think Citibank people were on the board of directors at NYU. You get the students, when they come here, to start at the local bank. And once you are in a bank and have monthly funds taken out of your account for electric, utilities, or whatever, it’s very hard to change.

So basically you have what the classical economists called the rentier class. The class that lives on economic rents. Landlords, monopolists charging more, and the banks. So that if you have a pharmaceutical company such that raises the rate of drug from $12 a shot to $200, that’s all of a sudden, their profits go up. Their increased price for the drug is created, is counted in the national income accounts, as if the economy is producing more. So all of this presumed economic growth that has all been taken by the 1% in the last ten years, and people say the economy is growing. But the economy isn’t growing–."

 - Prof. Michael Hudson (recent interview with Chris Hedges)

Earned income (your dog cat): http://www.investopedia.com/terms/e/earnedincome.asp

Unearned income (I guess your cat dog): http://www.investopedia.com/terms/u/unearnedincome.asp

 

Ghordius's picture

memedada, fine. but...

... this bourgeouis is against having to explain at every transaction if the money I am using was "earned" or "unearned"

fungibility and anonymity make a hash out of it, don't they? how much state are you willing to bear in order to make this distinction?

Memedada's picture

Sorry for the short answer to your relevant question - but I'm not at my laptop...

Ghordius's picture

;-) know that problem. another time, then

Memedada's picture

No state and no private capital = libertarian society.

GreatUncle's picture

It's not just silver though is it? It is everything, if it can be traded it is manipulated.

As for "their entire families wealth to be evaporated as they have done to so many around the world" do you really that is going to cut it? Cut it being the operative word. For the first time in history, think Romanoved on a global scale it is going to be the only way to remove the global parasite. All those puppet governments will be callled on to protect them also, so it really is going to be global.

Finally, does anybody actually believe a thief will negotiate giving all the goods and value they stole back? Nope, they do only if the lives of them and their families depended on it and before that they woul kill everything to try and prevent it.

Think brutal, but true.

jeff montanye's picture

speaking of trading, what do we make of this above?

"In October 2015 the Yuan was added to the International Monetary Funds (IMF) fiat currency basket, Special Drawing Rights (SDR). This allows the yuan a global presence and allows other nations to trade yuan currency like the Euro, Dollar, French Franc, etc."

french franc?

was the writer really thinking of the british pound which does still exist?

August's picture

The Swissie, and no proofreader.

KnuckleDragger-X's picture

It's all about the casino. you either have to play or leave.......

USisCorrupt's picture

GATA proved to be right after 2 Decades.

Throw the Bums OUT !