About That "London Gold Exchange"...

Tyler Durden's picture

We are only putting this up because we have been flooded with emails about an event which for some reason readers believe is relevant. The event in question is that according to its website, the London Gold Exchange ("LGE" or the "Joke") has closed. The one thing we would like to say about this is that the LGE is nether an exchange, nor does it trade gold. And, judging by its Wikipedia page, is probably not based in London but in Hong Kong. But yes, if one is concerned about such "currencies" as bitcoin and other digital "currencies", this may be news...And now, carry on.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
sqz's picture

The metals exchange you guys are looking for is the UK London Metal Exchange or LME whose website is this: http://www.lme.com/precious/gold.asp

Manbarepig's picture

This isn't the exchange you're looking for...

Ahmeexnal's picture

Yomomma's gold exchange has also shutdown indefinitely.


GeneMarchbanks's picture

Huh? Someone fill me in?

centerline's picture

Also in the "huh?" category is a new post over at Hypertiger that has documents pertaining to a lien filed by the IRS against the US for $14.3 trillion.

Conax's picture

We should give them Puerto Rico in exchange for the lien, hell they're headquartered there anyway.

Throw in Samoa if it will sweeten the pot.

Mr Lennon Hendrix's picture

No need to worry, Attackwatch will inform Bernanke shortly and he will handle it in like 15 minutes.

pods's picture

That was on urbansurvival.  Someone posted a link to it on Friday I think.  A UCC filing that once again mortgaged our asses to the banksters.


jonan's picture

what exactly does this put us on the hook for?

trav7777's picture

ah...Hypertiger.  Saying the same things I am saying about yields, growth, and money supply.

Where we part company is the endgame.  Unpayable claims get discounted...and our money is claims.

Silver Shield's picture

Hypertiger? Do you mean the legend in his own mind and everyone else is too stupid to understnd him- Hypertiger?




GeneMarchbanks's picture

So... some shady shit just went down and some sorry ass PM 'investors' got hosed, am I close?

WhatCouldGoWrong's picture

Gene... Yes, you were very, very close. Instead of quotation marks around investors it should have been quotation marks around the term PM

GeneMarchbanks's picture

@WCGW Indeed. You have to know why you're in PMs. Buying like these poor folks did wasn't insuring or investing. Many people will get burned and so... the bitterness toward PMs will only increase.

Alpha Monkey's picture

Only by paper players.  Anyone buying phys knows enough and is probably content with their decision.  They aren't waiting for the next uptick to sell and then buy a dip.

rich_maverick's picture

Get physical...  All other forms of PMs are still paper...

depression's picture

"The purchase of gold or silver shall be classified as a form of economic terrorism against the state."

Hearst's picture

Rest assured the 'permanently closed for business' sign will hang off the doors of the CME, LBMA, & CFTC.  Buying physical will hasten that inevitable justice.

strannick's picture

Au Contraire. As a government entity, the CFTC wont die, it will just multiply. Those endless silver investgations dont investigate themselves you know. Commissioners need assistants for that stuff. And their assistants need assistants...

Hearst's picture

I meant to say Comex and not the CFTC but hey, throw all those cocksuckers in there together!  Speaking of which, isn't 'Bart - Silver is manipulated but I'll never act - Chilton' susposed to speak on Silver this month?  Let me guess.  He'll state what's obvious again.  Then say he can't go into details due to the third 3 year ongoing investigation into Silver.  But no there's still hope from the regulators...

slewie the pi-rat's picture



carry on, BiCheZ!!!

Glasgow Gary's picture

The TDFMetals site has indeed become quite hilarious. Turd can't seem to be able to separate Noise from Signal. Indeed, Turd himself has become a fade since the Spring. When he's bullish, watch out. But, very useful when he's bearish. I hate to see good people get stuck in such loops. You wind up throwing spaghetti against a wall twice a day, just to see what sticks.


SilverIsKing's picture

What's the URL for your blog?  If I can't read what you consider a laughable blog, let me know where yours is so I can read a much less hilarious one.

pods's picture

I just can't see why Turd always catches such hell over predictions.  Haven't visited his blog (only read him here), but to try and predict the metals while fighting all manner of manipulation is difficult.

He could be right 99 times out of 100 but someone will come here and chide him for the 100th.

Does he now have to predict when the exchanges will raise margins as well?  Maybe perform a mind-meld with Blythe so as to be right all the time in order to enrich others?

He is out there making statements about directions in the future, instead of speaking about how well he played last weeks markets at least.  

Plenty of those people around.


boiow's picture

turd rocks. 

  took his advice last year with regard to market timing to sell gold to buy farm land. 

 he was spot on.

HamyWanger's picture

Which incidentally confirms that most "gold investors" lack a solid understanding of the economical and financial world, that coupled to a contempt for all forms of research and curiosity. 

Which seems to correspond to the definition of a redneck. 

Even a 5th-grader knows the difference between the LME and the "London Gold Exchange" (lol)... 

Pladizow's picture

Surprised this TROLL was able to hold out so long.

Must of thought to himeself, "only after a 20% correction in gold, will I be able to post again".

What is the over/under as to how long it will be before this TROLL goes into hibernation agian?

HarryWanqer's picture

Thanks for clarifying that Tyler.

Pladizow's picture

Same avatar, similar name, both been around a similar amount of time - so which is which?

fuu's picture

HaryWanger and HammyWanqer are both meta-trolls of HarryWanger.

Pladizow's picture

Also seems strange that Tyler would offer unsolicited clarification?!?

Even stanger is that Harry offered gratitude only 3 minutes later?

Am I paranoid, Who said that......?

fuu's picture

I dunno about that. I do know that when the 3 of them were posting it was hilarious. Maybe Tyler just has a good sense of humor.


I always suspected Wanqer and Hamy were one and the same.

Pladizow's picture

This is some Scully/Mulder shit!

Atomizer's picture

Harry Wanker misspells his own name

Biosci's picture

Hamy?  Seriously?  You've been around long enough to know better.

fasTTcar's picture

I own London Gold Buyer.

We are open 6 days a week :-)


pods's picture

Poof, it's gone!


lix333's picture

Dealers are not buying gold. That is the reason. 

rambler6421's picture

Soon happening to the COMEX and LBMA. 

breezer1's picture


A subscriber sent me a link to the London Gold Exchange which closed their doors PERMANENTLY today. Here's the link:   www.londongoldexchange.com   At first I thought they might be related to the London Metal Exchange but they are not. Just similar names. Here's the description of the London Gold Exchange from Wikipedia:   "London Gold Exchange is a digital currency exchanger founded in 2001. The London Gold Exchange is owned by LGE International LTD., an offshore company registered in Belize, with offices in LondonEngland and Hong Kong. London Gold Exchange operate 2 franchises, one in the UK and one 'International' which covers everywhere other than the UK. The UK administration office in Central London, with staff based in locations around the UK. The International administration office is in Hong Kong, with staff also operating from mainlandChina. Technical staff also operate from locations in Australia."     Yes. This was a DIGITAL gold exchange playing in the gold DERIVATIVE markets. From other articles the London Gold Exchange claimed to be the LARGEST e-gold exchange in the world. 
  Hmmm...   This surely can't be good news for their customers or the COUNTER PARTIES on the other end of these paper/electronic gold derivative transactions. The ripple effect of an implosion of gold and silver derivatives will set off the long awaited "Weapon of Mass Financial Destruction". I doubt this will be big enough to start the crash but it is definitely a sign of things to come.
  Then again, there is not much difference between an e-DIGITAL market and the COMEX market as both are just electronic derivatives of gold and silver. It's possible that September will be the largest volume month for COMEX silver in history... meaning north of 3,000,000 contracts traded representing over 15 Billion Ounces of SILVER! To add some context there's only about 30M ounces of physical silver available for delivery in the COMEX warehouses which represents a 500-1 ratio of paper trades against physical silver available for delivery in the month...and this is how the price is set for physical commodities in this age of paper Ponzi Schemes.   I know it is difficult to ride out these slams but this IS the end game so...
  STAND STRONG!!!   Obviously, it looks like we are going to have to EARN the future rewards on our physical gold and silver investment once again. So be it!
  We saw it coming long ago and IF you survive another few months with your METAL IN HAND then you will be one of the ONLY investors in the world to have preserved their wealth after the CRASH.   Keep and eye out for the END of the THIRD quarter as there should be MANY surprises in OCTOBER.   BIX WEIR's just recieved email.  


Hannibal's picture

Force majeure (French) or vis major (Latin) "superior force", also known as cas fortuit (French) or casus fortuitus (Latin) "chance occurrence, unavoidable accident",[1] is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties,....


sullymandias's picture

I was also wondering what the physical deliveries would look like this month for the COMEX. I'd like to see another one of those registered/eligible charts again too.

godzila's picture

Er... what's wrong about bitcoin ?

goldm3mb3r's picture

We already have digital currencies - issued by governments, what the hell do we need Bitcoin for. Fundamentally I object to a currency that is only obtainable by nerds "mining" in their basements. davincij15 posted loads of good videos on youtube about silver and gold until he became obsessed with Bitcoin and started talking bollocks. Sadly missed.