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  • Niklas S

    This is a well written extensive article on a very controversial topic. It makes you question every authority and their “public reports” rather then blindly following the herd. I will be one of those who will pray for a 60k/oz price 🙂

  • Asiimwe Isaac

    This is very good, thank you so much for this.

  • Koos Jansen

    I don’t think the US Treasury can/will ever back M3 when they return to a gold standard. At most, they can back M0 with gold, which is the monetary base created by the government (Federal Reserve Bank). Everything on top of M0 is “credit”. If the Treasury would back M3 with “their gold” they would have taken over every US bank. Or not?

    • Street

      Interesting concept about the Treasury backing the M3 with gold and taking over every US bank. Not likely with the physical ownership of the banks but more likely with a form of socialism and super tight regulations, something akin to Greece.
      Good to see you back again…..

      • philipat

        Just to add that even the very small “deliveries” of Gold on the Comex are actually just an exchange of warehouse receipts between Bullion Banks. This involves moving physical Gold from from one space in a warehouse to a different space of a different Bank. There is very little actual “delivery” of physical Gold, if any.
        It should also be pointed out we now know from declassified Diplomatic cables from London, that the Futures markets were deliberately created in their present format by the Central Banks to enable the Central Banks to manipulate volatility and thereby price of the metals so as to discourage individual investors from holding physical PM’s.
        This “invisible hand” behind the futures markets remains firmly in control of pricing and, IMHO, will continue in control until either the financial system collapses or at least there is another financial crisis which causes investors to become much more circumspect about the value of all things and the counterparty risk involved.

        • Street

          As trader/investor, I tend to keep an eye on the warehouse levels, which supports much of your statement. Couple that with the Commitment of Traders reports and certain discrepensies are fairly obvious. There is no doubt as to the manipulation taking place. Thanks for your response…..

          • philipat

            I am also a Trader/Investor but with PM’s the two things are entirely different. I invest in PM’s as insurance. I TRADE PM’s along with the Fed, using COT data as my guide to the present positioning in the Wash/Rinse/Repeatt cycle of the Cartel. They telegraph this VERY clearly and they have no problem if you make money WITH them; they just don’t want you to trade AGAINST them and position for rising PM prices, beyond their tolerances.

            I recognized that, in a few words “You can’t fight the Fed”. They have a printing press and legal cover to do absolutely anything they want to any “market”.

            I don’t know how hard we have to explain to folks that the BIS/CB/BB/ESF Complex is in control of ALL “markets” and in particular the PM “market” because they see PM’s as the canary in the fiat currency coal mine. What we might call “manipulation or“counterfeiting”, this Complex calls “monetary policy”. Until
            the financial system collapses or resets, IMHO PM’s are going precisely nowhere. As I see things:

            1. The“market” manipulation has become so “in your face” that it is screaming out that they don’t care if you know and/or what you think. The have a captive “Regulator” and the ESF operates entirely within the law in manipulating any “market”.

            2. After the Deutsche Bank case, you would think that the manipulators would be more circumspect in their manipulation. In fact, the opposite has happened. For reasons why, see above.

            3. Have you ever noticed that the “Fat finger” flash crashes at 2AM Eastern (And more recently at precisely 7:06PM Eastern) are only ever to the DOWNside, never up?

            4./ Have you noticed that in the last few months the USD has declined by over 10% (USDX) yet Gold has barely budged? And so over this period, the many-year negative correlation between Gold and USD miraculously seemed just to “go away”? Until last Friday (The “jobs” Report) when, as USD spiked higher (As a result of the “wonderful” Birth/Death jobs report) PM’s tanked. Behold, when negative for PM’s the negative correlation miraculously re-appears!! (As an aside, when restaurants are closing down all over the place and the industry is struggling, has anyone ever wondered where all these waiters and bartenders jobs are coming from?)

            5. Further to 4, over a similar timeframe, the Commerciasl had reduced their Short positions to levels at their historical lows in the range and yet, again PM’s have gone nowhere. Is it not blindingly obvious to anyone that 4) and 5) can ONLY happen if the PM market is being manipulated?

            In summary, it is my belief that these PM markets remain TOTALLY controlled by the CB Complex and the only thing that has changed is that they actually WANT you to know that.

            Remember also that we now know from Diplomatic Cables that the Futures “markets” were actually created by the CB’s with the express intention of scaring ordinary people away from investing in PM’s. And so long as it is the Futures “markets” that price spot PM’s, to quote Grant Williams and Aimee Mann “It’s not going to stop”.

            Of course, I still hold my physical PM’s (Outside the Banking System) as a portion of my investments and that will always remain as “insurance”. I just no longer invest a lot of emotional capital in closely following the PM “markets” or reading the
            usual suspects. Of course, if it is your business to sell PM’s and/or cater to the PM community, it is quite obvious that there will be lots of “talking your own book”?

          • philipat

            I did actually provide a very comprehensive and thoughtful response to amplify these points. It was, however, deleted very shortly after posting, probably because of a short final comment to the effect that PM sellers will, of course, “talk their own book”, irrespective of the reality of the complete manipulation of the PM markets by the CB/BIS/ESF/BB Complex. It is a private site so, of course they have every right to do so but, especially in view of their cutting edge research on metals manipulation issues, I was somewhat surprised that they seem unable to allow such opinions to be aired, especially as only a very minor point in an otherwise comprehensive and analytical post. Such is life…

          • Street

            You did ok. I got the gist of it…..

          • philipat

            I would post it again but there doesn’t seem much point, they would just delete it again. Sad really, I thought they were big boys and was thinking about bringing some of my Gold closer to Bali where I live. Not now.

          • Street

            I received a email of a post that doesn’t appear here. It was very interesting to say the least and totally on target. Was ok with it since I concur with the info and their activities do give themselves away. Have seen it for years except now it’s more blatant and in your face than ever. One has to just roll with the punches, per se and kind of find a your own niche dealing with it…..BTW, I like Silver better, to me it’s more practical for various reasons but that’s discussion left for another day……

        • Street

          A 21st century version of a the old shell game.

  • Very nice job on this article. I’d love to see a follow up with a similar analysis for silver.

    • Silver is going to be worst they Gold, Silver is worthless sometime in 2018-2021, people will throw it in the streets…. won’t feed them, Rubbish Crypto-currency will not accept it in the future and Gold – and therefore as Crypto-currency will be compulsory in 2018-2019 – Silver will be worthless….

      • philipat

        Hmmm. OK let’s come back a year from now and discuss again. I suspect you might get a surprise…

      • Street

        Crypto currency is a bubble ready to burst. Just the word ‘crypto’ alone should cause you or any other trader/investor to become highly suspicious. Silver will never ever be worthless. Its role as an industrial metal will prevent that. Just go and design solar panels without it and see how far you get….

        • Crypto Currency is the Worlds next currency – The one that the banks / Elite want will not burst but all currency(s) will fall to this replacement currency called “wahtever its name is going to be maybe “ripple” as the banks own that one. – cryptocurrency – BlockChain Technology is what they want and the elite will get what they want.

        • Well some time between 2018-2021 Silver will not be able to used to buy and sell food and nor will Gold so in that context, they are worthless….sorry I should have clarified the context I was talking in….

          • Street

            Then I can assume from your statement that guys like Jim Sinclair and the Turk Bros. will be out on the street panhandling….

          • Why when robots can do that? lol. One thing is for sure world currency is changing to “Crypto-currency(s)” that the elite want , no matter what. Gold and Silver will be sacrificed to get what they want….Don’t matter if it goes to $2 Million a once – what’s the good of it, buying and selling via crypto-currency and when (very soon) you cannot trade in (physical gold and silver) for currency let alone crypto-currency when it becomes law in 2018-2019? It was only 200 odd years ago they did away with “tally sticks and the war debt that England had” for paper currency, Lincoln printed the green back (that was not back by the European bankers debt, hence the civil war) now they do away with cash and do away with all the war debt again and start afresh with crypto-currency…. Same game just repeated…… If one thinks the last 150 years performance is indicative of the future performance they have not gone back far enough in history….

  • You obviously have not been watching Germany and the Bundestag what they have been doing with their GOLD!!!… They have been getting rid of GOLD and Martin Schulz through the “Friendship Agreements” will remove Gold from Trading (from the whole world) sometime in 2018-2020, which means Gold is almost worthless!

  • It will never happen unless there is a complete system collapse. The government will not let it happen. Gold at that price would ruin the stock market. Governments need money to be electronically mauler so they can manipulate. The economy is the primary focus of those in office, money has to be invested in stocks so companies have more capital to spend and produce more consumables. Gold doesn’t help GDP . Recently I Just Register a Commodity Advisory Services via http://www.mmfsolutions .sg

    • Street

      Here in the good old US of A, the government takeover of all the banks, will bring out the use of two other metals, Copper and Brass…..

  • B.

    What I am watching is the crytallization of the BRICS+T (Turkey) gold-backed trade settlement system. If they establish a rule that payment must be made with a consideration to gold, and potentially using an open-source block-chain ledger, then their new currency regime would send shockwaves around the world. I don’t believe we have seen the real currency wars yet and the trade wars are just warming up. Let’s hope, for all of our sake, that a hot war is not the final outcome… and that Western CB gold holdings are where we are told they are. If they aren’t (due to leases, swaps and other elaborate derivatives) then I can only imagine what that looks like.

  • TF Tan

    I would like to comment based on personal feel. Do you prefer to work hard for whole life to get limited precious metals, which i feel solid and pretty, or to get crypto-currency which can be created indefinitely by human and can be taken away in just a snap? From human perspective.

  • J Soho

    If trust in LBMA and Comex is lost completely, i.e. that bubble bursts, I guess the “official” gold price goes to zero overday. Where is for example BullionStar going to take its pricing from then?

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