The price-setting system of selling promissory notes, that do not require specific vaulted bars allocated to buyers, in the world’s largest gold and silver cash/spot immediate ownership market in London can only continue as long as the holders of those promissory notes are content with paper and do not ask for bar delivery.
I feel the frustration as well. Many commentators, Jim Ricksrds, Eric Sprott, Ted Butler to name a few have predicted the end of the shenanigans is ‘just around the corner’ for about 15 years. Yet the charade continues.
Also agree with all frauds collapse.
Also realize like Ted Butler proved, being right eventually is cold comfort if it doesn’t happen in your timeline to enjoy the spoils.
Don’t bet the farm on the fraud ending, because it can be maintained far longer than anyone dreamed. Remember fraud and irrational market can be maintained longer than we can remain solvent.. or something like that so go in with eyes open on this!
What we know is that OTC from London's gold vaults is ramping up to a very high level and that the London leverage tells us that this can not go on for very long.
Second, the Fed says it wants to cut rates with stocks, real estate, and food prices at record highs.
This translates into chaos and an accelerated draw on physical metals to exit the corrupted financial system.
All we can do is follow the data and it is telling us a lot.
I am not frustrated as I just stacked and stacked. I met a guy in a chat 2010 who almost owned a ton of Ag - he sold all at the top in 2011 (I thought he was mad!). I own a ton myself now. It came automatically as I studied all the time and the more I learned, the more I was convinced. Did I "bet the farm?" I am too old to start over - so it was better to know, there really is something for old age time - phys! And silver had the costs of production mostly near by. So no deep falls expected.
I agree 100% on Ted Butler et al or Scott Minerd - these old knights who fell before the false reality came down. But I am convinced, they were more convinced than I am today.
I feel no need to get rich and if, I would use it for others. Today an old man asked me for money at the petrol station: "For food." I said I would ride to the supermarket and meet him there and we would buy his needs together. I distrusted him, but he came and wanted milk powder for a baby. (Shame on me!) "Anything else?" No, that was it. I bought it and wife and I got blessed the latin way. Soon normal people in the west will be in these situations. If we make it, we can share - if not, we can't. I prefer to become rich, because it is wonderful to give. :-) All the best!
One of the reasons that this has lasted longer just happened...again...!
Argentina / psy ops Melei...just sent Argentinas gold to london, to "earn" interest on it and/or use it for collateral for a...paper loan to repay old debt...sound familiar..?
just like...Libya,Irak,Afganistan, venezuela and probably Ukraine...others..?
This gold is already sold long ago, and kan now be..delivered...
I think this is exactly the reason 3 world countries are joining Brics....
The banks et al, have not only cheated the 3 world countries, but also the mining companies and thus the miners but also the purchasing power of F.I.A.T paper money it self.
Gold in 1971 at 35$ usd/oz to now 2500 + usd/oz says it all.
Argentina's gold is already sold & transferred into physical lbma exchange to suppress price, continue the musical chairs game and the country will be cash settled as lbma nickel contracts.
Us "Contribute" a few million Benjamin's to melei campaign coffers, steal $1B in physical. THAT'S an ROI.
If the BRICS go with any sort of "gold backed" system it will likely be the straw that broke the camels back in terms of the LBMA and COMEX "paper gold market" no? I think that would push it over the end. So many people would then want physical gold.
BRICs move to gold currency not specifically required to break the paper pricing system in London, IMO. There is already high and increasing physical demand for gold and silver that is tracking toward default by parties selling paper spot contracts into the London market.
I believe this time is different. So many sophisticated party that asked delivery of physical from EFP. Mine permit is getting harder and i think sooner or later a silver like OPEC will be formed. Its just sad Ted Butler cant see it personally. But well never know if he was still waiting up there.
The central planners wish for the gold price to be set fraudulently and so it has been.
Now Mr. Market is waking up and the people will know what has happened to their gold, their countries, and their future due to this market distortion and rigging.
Phenomenal break down of the situation in London right now. Thank you for sharing
Thank you Max - it is my pleasure.
Follow the data not the talk.
So follow the data to the only conclusion that matters -- WEN does London default on PMs?
the data indicate the market is in distress.
if you have data indicating the market is fine, then present it.
nobody knows the exact day of failure - especially given so much data is withheld from public view.
the data indicates the market is changing.
all frauds collapse.
Excellent article. First time I’ve seen how lease rates can be used as evidence of the fraud.
Some gold quotes in case you’re interested:
https://open.substack.com/pub/inverttheinversion/p/ch-113-gold?r=b2h87&utm_medium=ios
Thank you Inversion.
I feel the frustration as well. Many commentators, Jim Ricksrds, Eric Sprott, Ted Butler to name a few have predicted the end of the shenanigans is ‘just around the corner’ for about 15 years. Yet the charade continues.
Also agree with all frauds collapse.
Also realize like Ted Butler proved, being right eventually is cold comfort if it doesn’t happen in your timeline to enjoy the spoils.
Don’t bet the farm on the fraud ending, because it can be maintained far longer than anyone dreamed. Remember fraud and irrational market can be maintained longer than we can remain solvent.. or something like that so go in with eyes open on this!
What we know is that OTC from London's gold vaults is ramping up to a very high level and that the London leverage tells us that this can not go on for very long.
Second, the Fed says it wants to cut rates with stocks, real estate, and food prices at record highs.
This translates into chaos and an accelerated draw on physical metals to exit the corrupted financial system.
All we can do is follow the data and it is telling us a lot.
I am not frustrated as I just stacked and stacked. I met a guy in a chat 2010 who almost owned a ton of Ag - he sold all at the top in 2011 (I thought he was mad!). I own a ton myself now. It came automatically as I studied all the time and the more I learned, the more I was convinced. Did I "bet the farm?" I am too old to start over - so it was better to know, there really is something for old age time - phys! And silver had the costs of production mostly near by. So no deep falls expected.
I agree 100% on Ted Butler et al or Scott Minerd - these old knights who fell before the false reality came down. But I am convinced, they were more convinced than I am today.
I feel no need to get rich and if, I would use it for others. Today an old man asked me for money at the petrol station: "For food." I said I would ride to the supermarket and meet him there and we would buy his needs together. I distrusted him, but he came and wanted milk powder for a baby. (Shame on me!) "Anything else?" No, that was it. I bought it and wife and I got blessed the latin way. Soon normal people in the west will be in these situations. If we make it, we can share - if not, we can't. I prefer to become rich, because it is wonderful to give. :-) All the best!
Nice. Spread blessings to others in need. Thanks LGWT.
Well done you
One of the reasons that this has lasted longer just happened...again...!
Argentina / psy ops Melei...just sent Argentinas gold to london, to "earn" interest on it and/or use it for collateral for a...paper loan to repay old debt...sound familiar..?
just like...Libya,Irak,Afganistan, venezuela and probably Ukraine...others..?
This gold is already sold long ago, and kan now be..delivered...
I think this is exactly the reason 3 world countries are joining Brics....
The banks et al, have not only cheated the 3 world countries, but also the mining companies and thus the miners but also the purchasing power of F.I.A.T paper money it self.
Gold in 1971 at 35$ usd/oz to now 2500 + usd/oz says it all.
Physical demand is building. Javier Milei foolishly shipping his country's strategic asset into ground zero when the fraud implodes.
Argentina's gold is already sold & transferred into physical lbma exchange to suppress price, continue the musical chairs game and the country will be cash settled as lbma nickel contracts.
Us "Contribute" a few million Benjamin's to melei campaign coffers, steal $1B in physical. THAT'S an ROI.
Fully corrupt.
Why would he do this?
That is a very good question.
If the BRICS go with any sort of "gold backed" system it will likely be the straw that broke the camels back in terms of the LBMA and COMEX "paper gold market" no? I think that would push it over the end. So many people would then want physical gold.
BRICs move to gold currency not specifically required to break the paper pricing system in London, IMO. There is already high and increasing physical demand for gold and silver that is tracking toward default by parties selling paper spot contracts into the London market.
I believe this time is different. So many sophisticated party that asked delivery of physical from EFP. Mine permit is getting harder and i think sooner or later a silver like OPEC will be formed. Its just sad Ted Butler cant see it personally. But well never know if he was still waiting up there.
Sustained physical demand is the game breaker.
WHY...is the gold never put up for an AUktion, to get the best price...?
and let the ..people...have the right to buy the gold...It is their gold to start with...
Thus the gold would still be in the country....instead of exporting it...
The real question is...was the gold...SOLD already...( UK..Browns bottom )
but lost in a " leased gold " con job..to earn ..interest...but nevet returned...
Who bought the .UK gold in 198 x...??
OR what it just a..media stunt...for the final smack down
We will know in time.
The central planners wish for the gold price to be set fraudulently and so it has been.
Now Mr. Market is waking up and the people will know what has happened to their gold, their countries, and their future due to this market distortion and rigging.