No physical metals left at LBMA or COMEX to back "paper" gold and silver?

You know, I recall that the Federal Reserve Act was passed near Christmas in an almost-empty Congress. The holidays are the perfect time to ram all sorts of nasty things through government and markets, because very few people are paying attention. The latest news from the LBMA and the COMEX does not involve legislation, but it is an eye-opener (to put it mildly) that the big players would probably like to bury in holiday tinsel.

First, a new installment of the popular "JP Morgue" animation that went viral in certain finance circles in recent days lays out the freshest dirt in "part two." (Many of you have probably seen part one.) Don't be fooled by the cuddly figures; the content itself is stark and chilling. Silver at the LMBA has now been in backwardation longer than ever before -- for the unanointed, that means THERE IS NO SILVER TO BACK THE PAPER. There is some additional unpleasant news from an alleged "JP Morgan insider," and some even more startling claims: If the video is to be believed, Russia and China (as well as South Korea, some Middle Eastern nations, and others) are moving physical metals to their shores at warp speed and "laughing" at places like India that have bought into the "paper gold and silver" market (to say nothing of the West). The vid is worth six minutes of your life, IMHO. (A bit of strong language):



And here's a fascinating and disturbing interview covering similar ground, including evidence that the paper gold market may be leveraged 100:1 against physical metal.



Merry Christmas, ATS! Hope Santa put some coins in your stockings...

Great post.

The "paper" gold youtube video doesn't work. Can you fix it or provide links to it?

Thanks and happy holidays.

Originally posted by wisdomnotemotion
Great post.

The "paper" gold youtube video doesn't work. Can you fix it or provide links to it?

Thanks and happy holidays.

Thanks for your comments. I just re-did it, that should work.

ooh i gotta watch this. Have you seen "quantitative easing explained?" it's done by the same cartoon people. Freakin hilarious, but so scary that it's not even funny.

reply to post by silent thunder

And here's a fascinating and disturbing interview covering similar ground, including evidence that the paper gold market may be leveraged 100:1 against physical metal.

So what is new? the goldsmith's practice of scamming the public with "Fractional Reserves" dates back at least four or five centuries if not more.

I need a gun before SHTF. I need a gun soon.

Originally posted by crimvelvet
So what is new? the goldsmith's practice of scamming the public with "Fractional Reserves" dates back at least four or five centuries if not more.

Of course, of course...many people understood this well years ago and made the required preparations. Many, many more did not, however. People seem to have forgotten that currencies themselves were originally nothing more than gold receipts ...they bought into paper gold instruments with the irrational expectation and oafish trust that these really did have a 1:1 correspondence with physical bullion somewhere.

Its going to be a rude awakening for millions.

reply to post by silent thunder


The Chinese would be the ones to enact a devious plot to own the world...ooohhh those crafty Chinese tricksters got us again!!!

Originally posted by coldkidc
reply to post by silent thunder

 

The Chinese would be the ones to enact a devious plot to own the world...ooohhh those crafty Chinese tricksters got us again!!!

The Chinese, Russians, Arabs, and others who are now taking advantage of the situation are only using common sense and a grasp of history to follow what is clearly the most rational course of action for any self-interested player with half a brain.

Too bad the aforementioned elements of good judgement have been largely eclipsed in the West by short-term greed on an unprecidented scale and blind groveling before the altar free-market-fundamentalist ideology.

The Chinese and others didn't have to engineer the situation: The Western financial/economic world handed it to them on a silver platter (pun definately intended).

This is going to sound racist, but it is true and not racist. This is what happens, when you let Jews run your economy. They have such terrible money lending practices (of course, they've mainstreamed the truth into "jews are greedy"). That is the true reason they've been hated for thousands of years. They make usury legal, but now they're starting to move beyond just simple usury.
"The most important thing history has to teach us, is that no one ever learns from history"
-Aldous Huxley(from The Human Situation)

I am cautiously optimistic as something needs to break soon to level the playing field. However These pukes have been pulling things out of thier arse for decades when we thought "this is it" so we'll see what happens

Amount of physical gold in the world is scarce compared to silver. Needless to say, there are fake gold bullions in circulation around the world.

One thing that many people do not realize is that physical gold is heavily being used in high-end industries like computers, medical and aerospace technologies.

Recently, there is a breakthrough in clinical trial using gold nanoparticles as cancer treatment. It's only a matter of time before physical gold becomes the smoking gun to treat other diseases.

This came out back last March, from a guy called Andrew Maguire who whistleblew the silver market being rigged and accuratly predicted when the prices would rise and fall from the inside information he was given. There's a radio show below on it:

www.kingworldnews.com...

Those of us holding gold and silver are going to get richer. I always say, take delivery on your precious metals purchases. Can't wait to see what happens next.

Those of us holding gold and silver are going to get richer. I always say, take delivery on your precious metals purchases. Can't wait to see what happens next.

Those of us holding gold and silver are going to get richer. I always say, take delivery on your precious metals purchases. Can't wait to see what happens next.

Originally posted by alonzo730
Those of us holding gold and silver are going to get richer. I always say, take delivery on your precious metals purchases. Can't wait to see what happens next.

sorry about your stuttering (lol).

what happens next is try eating gold when you get hungry.

reply to post by Ghost374

I personally don't care what the race of the scumbags is who's screwing us. I just want them to pay for what they are doing to us. But that is a dream, and won't happen right away. Hopefully down the road. Punishment should be colorblind. Hang em all I say. as usual, some will hang, others will get off scot free.

Originally posted by orangutang

Originally posted by alonzo730
Those of us holding gold and silver are going to get richer. I always say, take delivery on your precious metals purchases. Can't wait to see what happens next.

sorry about your stuttering (lol).

what happens next is try eating gold when you get hungry.

I guess we can stock up on French/Swiss cheese.

I watched a documentary where a cheese-producer village had heavy stockpile of preserved cheese (dated many decades back). According to the manager, they were still edible.. he sliced one and gave it to the documentary crew. I thought that's amazing.

I'm a big time buyer on Ebay. I observe more changes in the behavior of gold and silver sellers.

The trend started couple of years back when LESSER listings/auctions on gold ornaments (585 14K, 750 18K, 916 22K, 999 24K), bullion bars and coins.

Currently,
1. Lowest percentage in number of auctions for gold ornaments of 22K and 24K quality. Almost the same fate for gold coins.
2. 999 fine silver 1 troy oz ounce coins are getting hot. I lose bid on fine silver necklace that sold for double the current market price. That's crazy.