I paid $17 for about 11oz of silver in the early mid 70s. I was too young to drive so mom ran me over to an estate sale because I knew it was a good deal.
In 6 years those 3 rolls of dimes were worth $400. I was a lucky kid.
I believe that your analysis and knowledge is truly great and timely. There are not many who have the depth that you seem to possess AND ARE WILLING TO SHARE IT !! I believe you are of the stature of the great Theodore Butler. May The LORD preserve you ! I will be searching for your articles.
I’ve been stacking since 2006. Every morning since Obama signed the Billion Bankster Bailout Bill I’ve awoken wondering “is today the day?” Closer and closer…
About time ' Bailey ' and his BIS cohorts were all swinging from lamp post in throgmorton street and ' High street - Basel ' ......though they'll probably need a Crane of some sorts to string up ' Karstens ' from , as the immense weight of that fetid great lump of lard would probably collapse any lamp post onto the throng of the wildly clapping swiss public who turned up en masse' to see him and the others get their long overdue come uppance .
" Imagine the Mess at the BoE " ....Can't wait ( bring it on ) . I shall be looking to get a ring-side seat so that I can bear witness to this end of the Ponzi Scheme being brought to it's knees once and for all .
And now the Fed too, with this loosening of capital requirements for their fiat scheme. COMEX also in flames, and US becoming Japan monetarily speaking.
Noticeid n the past day or so that ' BIX WEIR ' has just released a piece to say that the Fed / Treasury Dept have just ammended existing measures OR put in place all new ones which will protect ' Wall Street ' from failure per the current state of insolvency that they've been in already for ever & a day - and of course th esword of damoclese that's hanging over all of their heads
According to your article, the Government may have leased gold to keep London BMA alive. However, the US government needs to audit gold reserves before it could revalue gold and reduce the debt, fend off govt shutdown, etc. The possible audit would presumably document the amount of US gold reserves that have been leased/rehypothecated, inhibiting a revaluation. What do you think will come out of this apparent conflict between the US trying to limit gold retail price, and its apparent desire to revalue upwards its own reserves?
Will any ' Audit ' uf US Gold reserves actually ever happen ....not heard a peep out of anyone on this front for age's now ..?? . Beginning to think that the longer any ' Audit ' goes on being shoved under the carpet - how this add's fuel to the fire that there's vastly less than the alleged 8,133 tons sat there or if it is there that's it's totally encumbered having been
leased / sold / hypothecated many times over - at least since 1971 if not much earlier .
This apart and with the Chinese potentially sat on 60 - 70.000 tons + the Russians also supposedly being in possession of 15 - 20,000 tons + ( ignoring all of the bullshit official data & figures etc ) + with the Chinese just having backed the Yuan with Gold and the Russian's almost certainly taking the same step in pretty short order - then how much does
what ever amount of Gold that the USA does or doesn't own , count in all of this ....?? .
Possibly not much as per the age old dictum - " He who owns the Gold makes the Rules "
it will therefore be the Chinese ( predominantly ) + the Russians who will be sat at the head of the table and calling the shots - whilst ' Uncle Sam ' could easilly be sat there with vastly fewer ' Chips ' ..or may be none at all .
Even Gold leasing is getting more difficult now as Central Banks want either to repatriate their Gold or refuse to lease it in the current "market" climate. If the BOE wants to lease its own Gold (refusing to learn from the "Brown Bottom") they are, of course, free to do so.
The City of London could use a massive crisis or event, something right in the City, to make this all go away.
Alex Krainer in an article a few months ago noted that all CCT camera's in London central were dark, and it was more than just short term glitch. This was a level of concern to him back then about an impending event/crisis related to the BOE / City of London. Now you .
I wouldn't put anything passed these ' Spooks ' & Scum-bags given that false flag events and covert operations are very much their ' Stock in Trade ' . Something will happen for sure , we'll just have to wait it out .
Nickel is not traded on the LBMA - in fact, the LBMA is a market association and not an exchange. Look at the London Metals Exchange. Very different from the London Gold Market, London Silver Market, London Platinum and Palladium Market.
• Lawsuits were filed by Elliott Associates and Jane Street, claiming damages totaling roughly $470 million, but UK courts ruled in LME’s favor, finding the cancellation lawful under exceptional conditions .
• In March 2025, the UK’s FCA fined the LME £9.2 million for insufficient controls during that episode—though the fine was tied to process flaws, not the cancellation decision itself .
• The UK Supreme Court refused to review Elliott’s appeal, effectively ending that final legal challenge
The LME exchange contracts are governed by the rules of the LME exchange.
London Gold Market, Silver Market, and Platinum & Palladium Market spot contracts are private, party-to-party contracts for the immediate purchase of metal and are governed by contract/common law. Something very different.
The London market for gold, silver, platinum and palladium sees these spot private contracts between parties cleared through the London Precious Metals Clearing Limited (LPMCL) but there is no exchange per se.
Rules , likewise the laws are there to be ' bent ' or completely ignored by the ' Money Powers ' and the politicians and judiciary
who they all stuff the pockets of , and issue the requisite scripts to .
' If ' you can bend the rules at will + via legislation and the jurisdiction your holding companies / assets are registered in - are able to place yourselves above the law ( Globally ) then " Job Done " and you';re sitting pretty for multiple generations - as has been all too apparent for some hundred's of years - not that more than 2% of the population have the mental capacity or necessary level of ' Critical Thinking ' to even realise this ...FACT ..!!
" Well Blow Me Down " ......UK Courts ( Bought & Paid For ) find in favour of the UK LME ( the payers - though now Chinese owned .) ... who'd have ever thought this level of blatant in yer face manipulation and outright crookery could come about without so much as a squeek ...??
Yes, the LME did cancel nickel trades in 2022. On March 8, 2022, amid a historic short squeeze, nickel prices on the LME skyrocketed overnight—from around $48,000 per tonne on March 7 to over $100,000—before the exchange suspended trading .
At 08:15 GMT, the LME halted all nickel trading. Later that morning, at around 12:05 GMT, it retrospectively cancelled all nickel trades executed from 00:00 GMT onwards—amounting to approximately $12 billion in contracts .
⸻
🔍 Why Did This Happen?
• A massive short position held largely by Tsingshan Group triggered a short squeeze, causing nickel prices to double in hours .
• LME officials warned that allowing these trades to stand could have unleashed an estimated $20 billion in margin calls, potentially triggering a systemic default among multiple clearing participants .
• The exchange argued that such a scenario would pose existential risk: “death spiral” and cascading defaults
It's one thing to stealthily put in place a price fixing system to rig global interest rates.
It's another to void contracts in breach of settled law for $trillions for those who purchased assets under that system when it becomes publicly visible.
Mortgages needed a clear line of title or they will get forfeited, or it voids the contract. didn't stop the banks from repoing homes during the housing crash. Be realistic, the elites do what ever they want with impunity. They'll just change the rules.
A lot of brilliant " right over the target " comments upon this equally right over the target repor - ( no change there then ) + must applaud you for the ' Washing Machine Video ' which provided an excellent few mins of levity during this rolling train wreck of a global financial collapse . Totally agree - if we don't maintain our sense of humour throughout all of this - then we'd probably have taken a lomng walk off the end of a very short peer ages ago ..??
Approx. 500M oz. of spot gold claims in London spot mkt. 30M oz. withdrawal in Jan/Feb caused panic with BoE having to lease central bank gold into the mkt to cover. Pick a number of what vaulted gold is available for delivery. At some point, central banks are going to vacate the leasing game as they recognize they won't be getting the metal back.
Exactly - As Bill Holter has been opining for yonks - it will be a failure to deliver in the vastly more leveraged Silver Market ( No CB's presently loading up on Silver ) that will be - " The Pin that gets pulled and explodes the Gold Market " .
The City of London is a foreign power. I was going to say that this entity operates within the UK like a tumour, but it is much worse than that. It has spread its malign influence across the world. This unincorporated thing, which in legal terms means stealth entity, cannot be grasped and so cannot be dealt with in the usual legal ways; at least that appears to be the opinion of those who operate within its network of tax havens, offshore quasi-legal constructs, banks and other institutions. And so it has been. It has, perhaps, overseen all corruption, exploitation and war. But it is not omnipotent. In my opinion, its primary weakness is its own sense of omnipotence. It has poisoned itself with the weird unreality it creates. It has become its own false flag. And now the terminal point has been reached. This coming crisis David so clearly reports seems to have been built-in as a self-destruct mechanism. If that is the case, I wonder how its digital escape pod will fare within the chaos created by the unravelling of this epic, murderous fraud. If the Fed is a 'creature', the City of London is its evil sire.
Thanks LS. The City does not operate well in daylight and morning has broken. It depends on ignorance to operate and in the end it will be recognized for the chaos it has brought.
" Doesn't operate well in daylight " - in the same way that ' Dracula ' stays away from the rays of the sun and recoils in horrotrat the sight of somebody coming close to him with a Silver crucifix round their neck s and silver stake in hand . Bram Stoker's classic story of ' Dracula ' serves as an almost perfect metaphor / descriptive for the current state of play .
YES - ' The City ' as with ' The Vatican ' , ' Washington DC ' and most probably BIS / Basel
( though not sure about BIS ) are essentially independant states within their host states who operate entirely under their own laws and rules and are not bound to any of the laws of the host nation state .....Exactly the same as having a parasite / malignant cancerous tumour living within your own body which is continually leeching you dry of your lfe force and killing you quietly with every passing day / hour . ' IF ' there's any justice in this world ( Jury's still out ) - then it will be Physical Gold & Silver that will serve as the ' Cleanse ' that will send the Fiat Ponzi horror show and it's architects down into the depths of hell once and for all .
Excellent piece David. And extra points for the vocabulary! Bring it on. And the fact that it's happening simultaneously in the "markets" for Gold, Silver and Platinum for slightly different reasons, makes it even more difficult to finesse this time.
If Central Banks begin to end the leasing of their gold (when the leases would "roll over"), I imagine that would create significant ripples through the gold domain. What would be early indications of such a disturbance?
The billionaires control the market. It will crash when the ponzi scheme directors decide to crash it. Four Hedgefunds have the power to keep or crush any market. This is the crisis. Take your assets and work out of the system. It doesn't serve you anywhere in the West. It is one giant vacuum that has the full intention of leaving you with nothing. U.S. confiscated every dollar, every bank account. Took away my son using the legalized torture lawfare system. Participating in one big privatized weapon to fuck you to death by the "Glafia" makes you the enemy of yourself and your family. The killers will come for you. It has already started.
I paid $17 for about 11oz of silver in the early mid 70s. I was too young to drive so mom ran me over to an estate sale because I knew it was a good deal.
In 6 years those 3 rolls of dimes were worth $400. I was a lucky kid.
That was a lot of dough.
Mr David Jensen,
I believe that your analysis and knowledge is truly great and timely. There are not many who have the depth that you seem to possess AND ARE WILLING TO SHARE IT !! I believe you are of the stature of the great Theodore Butler. May The LORD preserve you ! I will be searching for your articles.
"I'm old enough to remember when" this was a "crazy conspiracy theory" peddled by the GATA guys. Bring it. NOW.
It's very real.
I’ve been stacking since 2006. Every morning since Obama signed the Billion Bankster Bailout Bill I’ve awoken wondering “is today the day?” Closer and closer…
Yes- " Very Real " ...with brass knobs on
The washing machine metaphor had me in stitches, akin to how Bailey and his BIS cohorts must be feeling. I haven't laugh that much in ages.
It's not wrong. LOL.
Have to keep our humor through this mess.
Exactly ....!!
About time ' Bailey ' and his BIS cohorts were all swinging from lamp post in throgmorton street and ' High street - Basel ' ......though they'll probably need a Crane of some sorts to string up ' Karstens ' from , as the immense weight of that fetid great lump of lard would probably collapse any lamp post onto the throng of the wildly clapping swiss public who turned up en masse' to see him and the others get their long overdue come uppance .
Perfect analogy in the video 😈
There’s a lot of ruin in a washing machine.
Indeed. Imagine the mess at the BoE.
" Imagine the Mess at the BoE " ....Can't wait ( bring it on ) . I shall be looking to get a ring-side seat so that I can bear witness to this end of the Ponzi Scheme being brought to it's knees once and for all .
LMAO thinking about LBMA and watching that. Hilarious. Heavy things are destructive I guess, be they bricks, gold bars, whatever.
Thinking it just won't stop - but then it did.
Similarly, City of London is burning and it will burn down.
And now the Fed too, with this loosening of capital requirements for their fiat scheme. COMEX also in flames, and US becoming Japan monetarily speaking.
Noticeid n the past day or so that ' BIX WEIR ' has just released a piece to say that the Fed / Treasury Dept have just ammended existing measures OR put in place all new ones which will protect ' Wall Street ' from failure per the current state of insolvency that they've been in already for ever & a day - and of course th esword of damoclese that's hanging over all of their heads
About time the flames had a double of dose of ' accelerant ' flung on them in huge measure to get the job over & dome with .......Pronto .
THE DESTRUCTION of the washing machine , was classic
According to your article, the Government may have leased gold to keep London BMA alive. However, the US government needs to audit gold reserves before it could revalue gold and reduce the debt, fend off govt shutdown, etc. The possible audit would presumably document the amount of US gold reserves that have been leased/rehypothecated, inhibiting a revaluation. What do you think will come out of this apparent conflict between the US trying to limit gold retail price, and its apparent desire to revalue upwards its own reserves?
Will any ' Audit ' uf US Gold reserves actually ever happen ....not heard a peep out of anyone on this front for age's now ..?? . Beginning to think that the longer any ' Audit ' goes on being shoved under the carpet - how this add's fuel to the fire that there's vastly less than the alleged 8,133 tons sat there or if it is there that's it's totally encumbered having been
leased / sold / hypothecated many times over - at least since 1971 if not much earlier .
This apart and with the Chinese potentially sat on 60 - 70.000 tons + the Russians also supposedly being in possession of 15 - 20,000 tons + ( ignoring all of the bullshit official data & figures etc ) + with the Chinese just having backed the Yuan with Gold and the Russian's almost certainly taking the same step in pretty short order - then how much does
what ever amount of Gold that the USA does or doesn't own , count in all of this ....?? .
Possibly not much as per the age old dictum - " He who owns the Gold makes the Rules "
it will therefore be the Chinese ( predominantly ) + the Russians who will be sat at the head of the table and calling the shots - whilst ' Uncle Sam ' could easilly be sat there with vastly fewer ' Chips ' ..or may be none at all .
Even Gold leasing is getting more difficult now as Central Banks want either to repatriate their Gold or refuse to lease it in the current "market" climate. If the BOE wants to lease its own Gold (refusing to learn from the "Brown Bottom") they are, of course, free to do so.
Imagine leasing out your gold and expecting to get it all back in this environment.
There will be no audit and there hasn't been a real audit for 65 years for a reason.
Gold is going to do what gold does. Monkey business has delayed it but it is coming.
Exactly
The City of London could use a massive crisis or event, something right in the City, to make this all go away.
Alex Krainer in an article a few months ago noted that all CCT camera's in London central were dark, and it was more than just short term glitch. This was a level of concern to him back then about an impending event/crisis related to the BOE / City of London. Now you .
That was at the start of the run on gold and silver in London.
I think they were blocking visibility of the scale of truck movements from London vaults.
https://jensendavid.substack.com/p/londons-public-webcams-have-been
I wouldn't put anything passed these ' Spooks ' & Scum-bags given that false flag events and covert operations are very much their ' Stock in Trade ' . Something will happen for sure , we'll just have to wait it out .
LBMA invalidated Nickel contracts despite contract law, did they not?
Nickel is not traded on the LBMA - in fact, the LBMA is a market association and not an exchange. Look at the London Metals Exchange. Very different from the London Gold Market, London Silver Market, London Platinum and Palladium Market.
What happened with LME and nickel? There were lawsuits I recall. Are they still in process?
Have a look let us know what you find.
ChatGPT told me:
• Lawsuits were filed by Elliott Associates and Jane Street, claiming damages totaling roughly $470 million, but UK courts ruled in LME’s favor, finding the cancellation lawful under exceptional conditions .
• In March 2025, the UK’s FCA fined the LME £9.2 million for insufficient controls during that episode—though the fine was tied to process flaws, not the cancellation decision itself .
• The UK Supreme Court refused to review Elliott’s appeal, effectively ending that final legal challenge
Thanks CS.
The LME exchange contracts are governed by the rules of the LME exchange.
London Gold Market, Silver Market, and Platinum & Palladium Market spot contracts are private, party-to-party contracts for the immediate purchase of metal and are governed by contract/common law. Something very different.
The London market for gold, silver, platinum and palladium sees these spot private contracts between parties cleared through the London Precious Metals Clearing Limited (LPMCL) but there is no exchange per se.
Rules , likewise the laws are there to be ' bent ' or completely ignored by the ' Money Powers ' and the politicians and judiciary
who they all stuff the pockets of , and issue the requisite scripts to .
' If ' you can bend the rules at will + via legislation and the jurisdiction your holding companies / assets are registered in - are able to place yourselves above the law ( Globally ) then " Job Done " and you';re sitting pretty for multiple generations - as has been all too apparent for some hundred's of years - not that more than 2% of the population have the mental capacity or necessary level of ' Critical Thinking ' to even realise this ...FACT ..!!
" Well Blow Me Down " ......UK Courts ( Bought & Paid For ) find in favour of the UK LME ( the payers - though now Chinese owned .) ... who'd have ever thought this level of blatant in yer face manipulation and outright crookery could come about without so much as a squeek ...??
STAND's BACK IN AMAZEMENT ..& then some .
In the way of background…
Yes, the LME did cancel nickel trades in 2022. On March 8, 2022, amid a historic short squeeze, nickel prices on the LME skyrocketed overnight—from around $48,000 per tonne on March 7 to over $100,000—before the exchange suspended trading .
At 08:15 GMT, the LME halted all nickel trading. Later that morning, at around 12:05 GMT, it retrospectively cancelled all nickel trades executed from 00:00 GMT onwards—amounting to approximately $12 billion in contracts .
⸻
🔍 Why Did This Happen?
• A massive short position held largely by Tsingshan Group triggered a short squeeze, causing nickel prices to double in hours .
• LME officials warned that allowing these trades to stand could have unleashed an estimated $20 billion in margin calls, potentially triggering a systemic default among multiple clearing participants .
• The exchange argued that such a scenario would pose existential risk: “death spiral” and cascading defaults
How did the CHICOMS worm their way into that commanding position?
Why do you feel confident that the ones currently breaking the laws will start following the laws when the time comes?
It's one thing to stealthily put in place a price fixing system to rig global interest rates.
It's another to void contracts in breach of settled law for $trillions for those who purchased assets under that system when it becomes publicly visible.
Exactly .
Mortgages needed a clear line of title or they will get forfeited, or it voids the contract. didn't stop the banks from repoing homes during the housing crash. Be realistic, the elites do what ever they want with impunity. They'll just change the rules.
Then the City will become an historical artifact as a financial center. Lights out.
Exactly - " Coming to a Cinema near you Real Soon " .
A lot of brilliant " right over the target " comments upon this equally right over the target repor - ( no change there then ) + must applaud you for the ' Washing Machine Video ' which provided an excellent few mins of levity during this rolling train wreck of a global financial collapse . Totally agree - if we don't maintain our sense of humour throughout all of this - then we'd probably have taken a lomng walk off the end of a very short peer ages ago ..??
Search engines, especially Google, won't tell you the paper to physical ratio. I saw silver was around 275 to 1.
I think gold isn't as high but you might have that estimate?? Ponzi scheme.
Approx. 500M oz. of spot gold claims in London spot mkt. 30M oz. withdrawal in Jan/Feb caused panic with BoE having to lease central bank gold into the mkt to cover. Pick a number of what vaulted gold is available for delivery. At some point, central banks are going to vacate the leasing game as they recognize they won't be getting the metal back.
Silver ratio is far, far higher than gold.
Exactly - As Bill Holter has been opining for yonks - it will be a failure to deliver in the vastly more leveraged Silver Market ( No CB's presently loading up on Silver ) that will be - " The Pin that gets pulled and explodes the Gold Market " .
Yes - " Return Free Risk " meets " Return Of Capital ( Metal ) not Retturn on Capital "
The City of London is a foreign power. I was going to say that this entity operates within the UK like a tumour, but it is much worse than that. It has spread its malign influence across the world. This unincorporated thing, which in legal terms means stealth entity, cannot be grasped and so cannot be dealt with in the usual legal ways; at least that appears to be the opinion of those who operate within its network of tax havens, offshore quasi-legal constructs, banks and other institutions. And so it has been. It has, perhaps, overseen all corruption, exploitation and war. But it is not omnipotent. In my opinion, its primary weakness is its own sense of omnipotence. It has poisoned itself with the weird unreality it creates. It has become its own false flag. And now the terminal point has been reached. This coming crisis David so clearly reports seems to have been built-in as a self-destruct mechanism. If that is the case, I wonder how its digital escape pod will fare within the chaos created by the unravelling of this epic, murderous fraud. If the Fed is a 'creature', the City of London is its evil sire.
Thanks LS. The City does not operate well in daylight and morning has broken. It depends on ignorance to operate and in the end it will be recognized for the chaos it has brought.
" Doesn't operate well in daylight " - in the same way that ' Dracula ' stays away from the rays of the sun and recoils in horrotrat the sight of somebody coming close to him with a Silver crucifix round their neck s and silver stake in hand . Bram Stoker's classic story of ' Dracula ' serves as an almost perfect metaphor / descriptive for the current state of play .
YES - ' The City ' as with ' The Vatican ' , ' Washington DC ' and most probably BIS / Basel
( though not sure about BIS ) are essentially independant states within their host states who operate entirely under their own laws and rules and are not bound to any of the laws of the host nation state .....Exactly the same as having a parasite / malignant cancerous tumour living within your own body which is continually leeching you dry of your lfe force and killing you quietly with every passing day / hour . ' IF ' there's any justice in this world ( Jury's still out ) - then it will be Physical Gold & Silver that will serve as the ' Cleanse ' that will send the Fiat Ponzi horror show and it's architects down into the depths of hell once and for all .
Excellent piece David. And extra points for the vocabulary! Bring it on. And the fact that it's happening simultaneously in the "markets" for Gold, Silver and Platinum for slightly different reasons, makes it even more difficult to finesse this time.
Incidentally BIS also just came out against Stable coins - things are getting tough all the way round.
Stable coins are just a mechanism to buy Treasuries with nothing. The something from nothing crowd will never stop.
Agreed, but also to attempt to extend the "useful" life of USD. Perhaps BIS is really operating to a new more pragmatic multipolar script now?
Exactly ... A whole load of desperately un-happy ' Bunny's ' all crying buckets into their beer in the not too distant future .
If Central Banks begin to end the leasing of their gold (when the leases would "roll over"), I imagine that would create significant ripples through the gold domain. What would be early indications of such a disturbance?
The billionaires control the market. It will crash when the ponzi scheme directors decide to crash it. Four Hedgefunds have the power to keep or crush any market. This is the crisis. Take your assets and work out of the system. It doesn't serve you anywhere in the West. It is one giant vacuum that has the full intention of leaving you with nothing. U.S. confiscated every dollar, every bank account. Took away my son using the legalized torture lawfare system. Participating in one big privatized weapon to fuck you to death by the "Glafia" makes you the enemy of yourself and your family. The killers will come for you. It has already started.