The Unification Epicenter of True Lightworkers
The international gold market is a tungsten-powered Ponzi Scheme
The international gold market is a tungsten-powered Ponzi Scheme
Ted Butler, Bill Murphy, Adrian Douglas and Andrew Maguire are unpacking a pan-global precious metals scandal that could make the CMKM Diamonds $3.87 trillion phantom shares lawsuit against the US Securities and Exchange Commission look like yesterday's small change. For many years, people assumed that the London Bullion Market Association (LBMA), the world's largest gold market, was a simple bullion market. Cash for gold. However, it is emerging that there is very little actual gold within the LBMA system. There is no physical, deiverable gold corresponding to the vast claimed gold deposits held at the main LBMA banks. This means that there are thousands of major clients, Asian and Middle Eastern governments and sovereign wealth funds among them, who think, on the basis of their LBMA-supplied documentation, that they own hundreds of billions of dollars of gold bullion. Such clients own no such thing. They are being charged storage fees on fantasy bullion. What they own is unsecured gold loans to the banks returning a compound negative interest rate. There is nothing new about this sort of élite deception. In 2007, the US bank Morgan Stanley paid several million dollars to settle claims that it had charged 22,000 clients for storage fees on silver bullion that didn't exist. Currently, much of the United States' gold reserves are listed as being Mint-Held Gold in Deep Storage. Dealers have always assumed that this means finished gold bars stored in deep underground vaults beneath places such as Fort Knox, Denver and West Point. The indications are emerging, however, that the term "Deep Storage Gold" is a euphemism for "yet to be mined gold". The precious metal doesn't exist in deliverable form; it is merely a paperwork forecast about future gold mining potentialities. In the UK there are problems too. Not all the gold held by the Bank of England is fit for delivery. The gold stored in the BoE vaults began to be accumulated in the early nineteenth century. It takes the form of gold bars, ingots and coins. Current methods of assessing quality have indicated flaws in the purity. Many of the gold bars contain cracks and fissures. The coins contain appreciable quantities of base metals. And much of the British gold lacks up-to-date assay certificates.
Ted Butler, Bill Murphy, Adrian Douglas and Andrew Maguire are unpacking a pan-global precious metals scandal that could make the CMKM Diamonds $3.87 trillion phantom shares lawsuit against the US Securities and Exchange Commission look like yesterday's small change. For many years, people assumed that the London Bullion Market Association (LBMA), the world's largest gold market, was a simple bullion market. Cash for gold. However, it is emerging that there is very little actual gold within the LBMA system. There is no physical, deiverable gold corresponding to the vast claimed gold deposits held at the main LBMA banks. This means that there are thousands of major clients, Asian and Middle Eastern governments and sovereign wealth funds among them, who think, on the basis of their LBMA-supplied documentation, that they own hundreds of billions of dollars of gold bullion. Such clients own no such thing. They are being charged storage fees on fantasy bullion. What they own is unsecured gold loans to the banks returning a compound negative interest rate. There is nothing new about this sort of élite deception. In 2007, the US bank Morgan Stanley paid several million dollars to settle claims that it had charged 22,000 clients for storage fees on silver bullion that didn't exist. Currently, much of the United States' gold reserves are listed as being Mint-Held Gold in Deep Storage. Dealers have always assumed that this means finished gold bars stored in deep underground vaults beneath places such as Fort Knox, Denver and West Point. The indications are emerging, however, that the term "Deep Storage Gold" is a euphemism for "yet to be mined gold". The precious metal doesn't exist in deliverable form; it is merely a paperwork forecast about future gold mining potentialities. In the UK there are problems too. Not all the gold held by the Bank of England is fit for delivery. The gold stored in the BoE vaults began to be accumulated in the early nineteenth century. It takes the form of gold bars, ingots and coins. Current methods of assessing quality have indicated flaws in the purity. Many of the gold bars contain cracks and fissures. The coins contain appreciable quantities of base metals. And much of the British gold lacks up-to-date assay certificates.
Views: 21
Comment
© 2024 Created by Besimi.
Powered by
You need to be a member of Saviors Of Earth to add comments!
Join Saviors Of Earth