Turk - The LBMA Is Moving To Cover Up Silver Manipulation

"Today James Turk spoke with King World News about steps which are being taken by the LBMA and Western central planners to cover up the corruption and manipulation in the gold and silver markets. This is the first in a series of interviews with James Turk that will be released today which reveals what is going on behind the scenes of the increasingly desperate Western central bank gold and silver price suppression scheme.

Here is what Turk had to say about what is now taking place: “They (the LBMA) are making it more and more opaque. Less and less information is being made available. Specifically, what’s happened here is that the LBMA had been reporting the silver lending rate and comparing it to the LIBOR rate.”

 

“For the past couple of years I have contended that this was a fictitious rate because, in reality, I believe silver is in backwardation. In other words, the future months are below the spot months, and so you should have a negative silver forward rate. But it’s not reported that way on the LBMA site.

They (the LBMA) consistently show a positive silver forward rate. Now, what the LBMA said is they are no longer going to report silver interest rates and silver forward rates.....

“The reason they (the LBMA) gave is they said it is just an indication and you can’t really trade at that price anyway. 

So what that does is prove the point that I’ve been making, that these are artificial rates which are just there to paint the tape and to mislead people into thinking the silver market is actually in a normal contango. But in reality it (silver) is actually in backwardation.”

Eric King: “These are the types of things you see James as you are running a price fixing scheme, and it’s a Ponzi scheme, and you begin to run into trouble.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/11/27_Turk_-_The_LBMA_Is_Moving_To_Cover_Up_Silver_Manipulation.html