As anecdotal evidence that seems, from where I sit, possibly to support your thesis re Fink and Starmer, in the last few weeks of 2024, my ISA provider told me I could no longer keep Sprott PSLV holdings in the ISA wrapper, and Keir doubled the capital gains tax I will consequently be expected to pay. Feels like being nudged.
So when the whole promissory note shenanigans goes tits up any found to have been involved in what, for want of a better word is a fraud, then they would be in deep doodoo alongside those who are meant to be "overseeing" the whole thing would they not. In a normal world anything like that would be a career ending move, would it not🤔
David what are you really keeping a close eye on in the first few months of the year??
If we know there is shortages with the paper trades, what would it take to drain the physical vaults?? Do we know how much is been physically taken out each month or that info is not available??
I think China is collapsing far faster than many realise, some of the videos coming out of there in the last few weeks are crazy and the msm are not showing any of it. There is serious social/economical problems growing inside China. AI will gut China and India for many of the low paying jobs and possibly end globalism as we know it.
Giving record global demand and increasing physical shortages to a record level now, what is your basis for assuming that "demands for delivery turn to dust..." ?
Ha ha, it was a half joke. But we have reached the point where the silver market riggers’ time is up. Big fan of yours as well as people like Bill Holter, Andy Schectman, Bix Weir, +++. The Petro Doller is dying on the vine (soon, mid-Feb?). Gold & SILVER will become unattainable for a period of time, does SILVER settle at 10 or 20 to 1 Gold, historical norms? Or Silver eventually go one to one with gold, given its intrinsic value? things to ponder. Best.
PS. I’m just an armchair critic, but I do hold an Econ degree from long ago, and I did stay at a Holiday Inn a while back…😎
After giving it a little thought, it appears to me that the LBMA is not really a spot market at all but rather an indeterminate futures market. Buyers can purchase a contract and then hold it as long as they care to, possibly years, and then when market arbitrage conditions appear to be auspicious, they can demand prompt physical delivery. It would appear that their risk is that the contract is defaulted upon with claims of force majeure, and they are paid off at a rigged spot price in fiat. However, it would appear to me that their greater risk is that they experience a true default and are simply told to go pound sand. But who exactly are the vast majority of these contract buyers anyway? I suspect that they are probably fronts for the BoE and the Fed, who clandestinely print fiat to buy the contract, suppress the price, and in truth have really nothing to lose in the game. The alternative would appear to be that they are extremely rich morons. It is all about a system where the tail wags the dog until it can’t.
As anecdotal evidence that seems, from where I sit, possibly to support your thesis re Fink and Starmer, in the last few weeks of 2024, my ISA provider told me I could no longer keep Sprott PSLV holdings in the ISA wrapper, and Keir doubled the capital gains tax I will consequently be expected to pay. Feels like being nudged.
So when the whole promissory note shenanigans goes tits up any found to have been involved in what, for want of a better word is a fraud, then they would be in deep doodoo alongside those who are meant to be "overseeing" the whole thing would they not. In a normal world anything like that would be a career ending move, would it not🤔
If anyone thinks a premium of 20% in one market over any other is "business as usual", i have a bridge to sell you in the Metaverse.
David what are you really keeping a close eye on in the first few months of the year??
If we know there is shortages with the paper trades, what would it take to drain the physical vaults?? Do we know how much is been physically taken out each month or that info is not available??
I think China is collapsing far faster than many realise, some of the videos coming out of there in the last few weeks are crazy and the msm are not showing any of it. There is serious social/economical problems growing inside China. AI will gut China and India for many of the low paying jobs and possibly end globalism as we know it.
Great Summary David, wonder when the demands for delivery turn to dust…
https://www.reuters.com/markets/commodities/nickel-that-failed-lme-standards-was-found-access-world-warehouses-2023-03-21/
Giving record global demand and increasing physical shortages to a record level now, what is your basis for assuming that "demands for delivery turn to dust..." ?
Ha ha, it was a half joke. But we have reached the point where the silver market riggers’ time is up. Big fan of yours as well as people like Bill Holter, Andy Schectman, Bix Weir, +++. The Petro Doller is dying on the vine (soon, mid-Feb?). Gold & SILVER will become unattainable for a period of time, does SILVER settle at 10 or 20 to 1 Gold, historical norms? Or Silver eventually go one to one with gold, given its intrinsic value? things to ponder. Best.
PS. I’m just an armchair critic, but I do hold an Econ degree from long ago, and I did stay at a Holiday Inn a while back…😎
Cheers DL!
After giving it a little thought, it appears to me that the LBMA is not really a spot market at all but rather an indeterminate futures market. Buyers can purchase a contract and then hold it as long as they care to, possibly years, and then when market arbitrage conditions appear to be auspicious, they can demand prompt physical delivery. It would appear that their risk is that the contract is defaulted upon with claims of force majeure, and they are paid off at a rigged spot price in fiat. However, it would appear to me that their greater risk is that they experience a true default and are simply told to go pound sand. But who exactly are the vast majority of these contract buyers anyway? I suspect that they are probably fronts for the BoE and the Fed, who clandestinely print fiat to buy the contract, suppress the price, and in truth have really nothing to lose in the game. The alternative would appear to be that they are extremely rich morons. It is all about a system where the tail wags the dog until it can’t.
London has been the world's primary physical gold and silver market. Miners sell through London and users of the metal buy through this market.
The spot contracts are private and can be different. For a contract to allow for cash settlement would negate its purpose.
This market is quickly developing into a problem as global shortage spreads.
The LBMA is the global distribution mechanism for the Eurodollar system. When it goes down - and it will - all hell will break lose.