The downside manipulations have become so embarrassingly obvious to anyone connected to the strong physical markets. There is no way of hiding that these sales are conducted in the face of a market where physical demand continues to exceed mine supply, meaning these sales can only be effected by way of high leveraged naked short selling.
Bullion Banks' 100/1 Leveraged Paper Positions
These too-big-to-fail banks are once again playing a high-risk game with taxpayer money. They are so obviously mismatched to their underlying physical holdings that large institutional entities are unwinding their fractional gold and silver risks. The resulting deleveraging exposes the bullion banks' rehypothecated positions. As this accelerates it is forcing a 100/1 unwind of paper positions.
Eric, last week we talked about a membership-based physical exchange that has stealthily been built over the last 3.5 years and is now bullet-proof from LBMA interference. In our interview last week we talked about how this physical trading platform provides a real alternative to the closed-loop LBMA system.
It all boils down to the fact that providing direct access to the wholesale market, without going through a bullion bank, empowers the end user. Up until now, the end user hasn’t been able to directly access the wholesale market..."
at http://kingworldnews.com/andrew-maguire-smashed-gold-today-hsbc-shocks-clients-closing-london-gold-vaults/
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