Gold: Could gold be the next Libor scandal?

Uh...yah the Silver Market is rigged - JP Morgan Chase has a Silver put option on the market for it to go lower everyday - the only problem is the put option is for Silver to go lower by 400 times more than exist's on the planet.

It's a complete joke - you let a bank JP Morgan Chase illegally manipulate a metal 400 times downward with no evidence to back-up that play?

Buy it peeps - its the poor mans gold - God knows the rich people are - physical not that paper ETF crap.

Business Gold Could gold be the next Libor scandal?

Ya can't eat gold or silver so, how much can it really be worth? At the end of the day, the only thing that's going to matter is food in the belly.

reply to post by BABYBULL24


I believe the prices of precious metals will be made to seem as they are less and less valuable as the dollar becomes more worthless. Perhaps it's a way for big banks to stockpile their own holdings at a discounted price before the dollar crashes.

I'm in the current practice of being a new aged pirate. Hoarding gold, silver, and gems... maybe even burying it all to keep it hidden. Keeping self valuables in dollar form with the banks is just asking to have your money taken and or devalued in my opinion.

Once the petrol based dollar collapses, we will see gold and silver brought back to being used for purchase of goods as the standard of wealth. It's my estimate that an escalation of U.S. involvement in military actions in Iran will thrust the dollar into the crapper. If this is an accurate estimate, everyone's money in banks will become useless, if not become unavailable for withdrawal out of nowhere.

Do not let your hard earned money be taken by these banks! We already know elitists have no problems keeping as much to themselves as possible. We need more pirates to provide a balance to wealth in the future. Do not trust the 1%!

this is from a person that actually lived through the argentina financial collapse of 99 thru 02, it's long, but a good read on what it would be like in america, due to argentina being similar to western style countries...obviously this was over 10 years ago, but it seems that there is very little that needs to be adjusted ...this is a real day to day, week after week, months and months surviving and living. it also is a story with great sometimes un-common knowledge
www.survival-spot.com...

reply to post by BABYBULL24


I've read some about and wondered if the silver market was being manipulated. The question is will they just hold it down and it is now way undervalued, or will they pull the rug out from under silver completely and make it worthless ad everyone that invested in it have to sell cheap or hold onto it for 10 years to get its value back.

I wonder what the prices should be. I assume they are keeping the price down so people won't know how much the dollar has actually fallen.

Buy junk silver coin. That means buy silver dimes, quarters, half-dollars and dollars minted
before 1964. They trade at about twenty times face value and if TSHTF they will be easy to trade
as everyone will know their worth.

If you are a prepper you could buy gold or silver bullion but you will have a tough time trading
with anyone but precious metal dealers or pawnshops etc.

Junk silver coin is the best option for people on this site...hands down best option

eta: (forgot to post on topic)

People have tried to manipulate silver prices in the recent past. The Hunt brothers (of Hunt's ketchup)
tried to corner the market a couple of decades ago--pretty interesting story of private jumbo jets
and gun wielding cowboys to protect the cargo in transit, for those who want to look it up.

I'd recommend if silver drops below 25usd an ounce to buy as much as you can, and sit on it.

reply to post by rival


Well silver bullion isn't too bad. You can pretty much figure the value based on junk coin price. A silver dollar is worth about 3/4ths of a .999 silver ounce. Not intending to argue, I just think buing silver bullion ounces are a pretty good investment.

All markets are rigged, and have been for a very long time. The big banks artificially inflate stocks all the time to lure in investors, then cash out before plunging the price of those stocks, having already bet against them.
The use of robo-systems that place sell or buy options hundreds of times a second are also another favourite... it's ludicrous!
It makes me chuckle when people say to invest in gold, yet they are buying paper IOU's, never actually receiving the cold hard metal. In the meantime, the banks will sell the same gold over and over again, to multiple investors, that's even if they have the physical gold or not in the first place. It's all a rigged game. Look what is already happening, with nation states asking for their physical gold to be repatriated and the big banks holding it either refusing outright or stalling for time - years in some cases - to move it. It's because they don't have that physical gold any more and have resold it several times over.

So, of course the precious metals markets are rigged, as are all others.

The stock market has been turned into a big casino for the big players, who simply come up with ever more risky and outrageous, sometimes illegal, ways of gaming the systems for their own benefit. Lets face it, they add nothing of any tangible value to society, yet take all they can get when the bets go wrong and the rest of us, thanks to our bought and pid for politicians, get handed the bill for things we had no control over, while the financial criminals pay themselves bonuses with the bailout money that the taxpayer provided. Yaaaay...another round of large ones at the club gentlemen, coutesy of the taxpayer!

reply to post by Britguy


I'm not outright disagreeing or even doubting, but I haven't read any stories about a country refusing to return held gold. I read one where the US told Germany I think that it would take like 9 years to return a portion of their gold, but I don't have all the facts like why the US was holding it. If there was an agreement of time for holding it, and also it does take a bit of time to move that kind of cargo safely.

reply to post by GogoVicMorrow


The US can mobilize and ship hundreds of tons of equipment to their new war zones at the drop of a hat, including hazardous and explosive equipment, under high security. You'd think shipping gold bullion under guard would be a walk in the park!

Of course Gold is manipulated: the London Metals Exchange (LME) "fixes" gold twice daily and the Working Committee on Financial Markets is involved in virtually all markets (especially the bond, currency and stock futures markets). The "hue and cry" however over the fact that the paper market (primarily futures) is 100x (100:1) that of the physical market as if that is some kind of an anomaly (albeit easier to manipulate) that is particular to the precious metals is actually a function of all futures markets where approximately 1% of all contracts are settled in delivery. FWIW, all of the stock futures contracts are settled in cash - 0% delivery.