The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Yes, by 1985 scandals were already rife in the COMEX sphere. "It marks the second time in a year that the CFTC has gone after Comex for not enforcing rules against excessive speculation."?
https://www.washingtonpost.com/archive/business/1985/08/28/comex-traders-charged-in-gold-options-scandal/9573f1c7-e301-46f6-98d4-0c89ded74c0c/
Blistering start.
Not a bad weekend read,
"So, if Banks sell contracts with no metal backing, and these contracts are purchased by speculators with no end demand for physical, then what does the trading of these contracts have to do with the actual value of real, physical metal? The answer: NOTHING."
https://www.sprottmoney.com/blog/the-continuing-comex-fraud-craig-hemke-05-112019
Some more interesting facts and figures on the history of gold...some of it recent
https://www.sec.gov/Archives/edgar/data/1222333/000095012309044477/y02266fwp.htm
enjoy your weekend and your dividends...
16 million locked in for the weekend in Oz.
and something really worth celebrating? France wins GOLD ?
"Mr Arnault, who has been chairman of Louis Vuitton since he acquired a 44 per cent stake in the brand conglomerate in the late 1980s, is worth $US196 billion ($265 billion) as of Thursday. That’s slightly more than Jeff Bezos’ net worth of about $US186 billion, according to Forbes." Earnt every cent!
best of luck to us all!
the gnome.
Hi
As a share holder here and GGP l am well aware of the corrupt way gold is manipulated, basel 111 looked the answer for us, but no the crooks are finding away round it, hope it bites em in the
a***
Hi Halfpenny,
You are absolutely right in everything you say about the manipulation of the precious metals prices and all part of the special relationship between the FED and the UK LBMA that the general public are ignorant of!
It is obvious now that Brexit was seen by Farage, Jacob Rees Mogg, Boris and other senior Tory party members as possible means of the UK City, LBMA avoiding compliance with Basel 3 along with the rest of Europe in order to keep the money making Comex scam going!
Rebess has a good point, they won't give up this manipulation any time soon, the City are already finding new ways of working to get around the Basel 3 requirements with our government and the BOE as complicit parters
Certainly makes a mockery of so called market regulation!
PM's have to be kept at a low price to give the illusion the fiat money is actually worth something if PM's were allowed to roll without manipulation they'd be many multiples higher. But it's getting harder to keep them contained imho.
A history lesson for the PM newbies :-
Comex gold contracts were brought to life in 1974. Correspondence between senior officials in and advisors to the Nixon Administration discussed the need to create an “investment” vehicle to “capture” institutional investment money directed into gold in order to prevent the rapid rise in gold after President Nixon closed the gold window.
In a nutshell the whole Comex system is corrupt with insider influence between US and the UK creating bogus orders. This is not allowed but I've seen first hand that it sure does happen.
Since the introduction of paper gold, the Comex -- gold and silver trading -- has evolved into what can only be described as a caricature of a “market.” The open interest in gold contracts is nearly 10 times the amount of physical gold reportedly held in Comex vaults. It's 60 times the amount of “registered” gold, the gold designated as available for delivery. ...
The shenanigans in POG over the last 2 years seem to blight other companies. IMHO some serious manipulation is going on there. However many shares are bought each day, any rise is smothered by an apparently endless supply of sells however low the price gets. At least the shorters will have to close at some point and with 6% of the stock on loan and 29% held by one investor, there is quite possibly going to be a major bear squeeze at some point.
Paper manipulation de rigor but it can't go on forever..
Not helping matters.