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German Gold Manipulation Blowback Escalates: Deutsche Bank Exits Gold Price Fixing
Zero Hedge ^ | 17 January, 2014 | Tyler Durden

Posted on 01/17/2014 8:04:49 AM PST by Errant

Germany's blowback against gold manipulation is accelerating. Following yesterday's report that Bafin took a hard line against precious metals manipulation, after its president Eike Koenig said possible manipulation of precious metals "is worse than the Libor-rigging scandal", today the response has trickled down to Germany and Europe's largest bank, Deutsche Bank, which announced that it would withdraw from the appropriately named gold and silver price "fixing", as European regulators investigate suspected manipulation of precious metals prices by banks. As a reminder, Deutsche is one of five banks involved in the twice-daily gold fix for global price setting and said it was quitting the process after withdrawing from the bulk of its commodities business. The scramble away from gold fixing was certainly assisted by the recent first (of many) manipulation expose in the legacy media, when Bloomberg revealed "How Gold Price Is Manipulated During The "London Fix." And sure enough, with Germany already very sensitive to the topic of its gold repatriation, and specifically why it is taking so long, it was only a matter of time before any German involvement in gold manipulation escalated to the very top.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; Germany; Government
KEYWORDS: banks; comdex; eurobanking; eussr; germany; gold; goldmanipulation; goldprices; silver
Could be a significant development in the alleged suppression of gold and silver prices.
1 posted on 01/17/2014 8:04:49 AM PST by Errant
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To: Errant

So, does this mean BUY or SELL?


2 posted on 01/17/2014 8:06:20 AM PST by lurk
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To: lurk

Buy if you’re so inclined. But then I’m NO financial advisor and I haven’t stayed in a Holiday Inn in years. ;)


3 posted on 01/17/2014 8:09:25 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: lurk

BUY


4 posted on 01/17/2014 8:12:29 AM PST by SubMareener (Save us from Quarterly Freepathons! Become a MONTHLY DONOR!)
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To: Errant

The second country in two days to allege price fixing on gold/PMs. China was the first in regards to keeping the dollar higher and as the world reserve. If demand alone determines gold prices, it could go much much higher. The fed would fight this but may have to bow to demands from other governments. I own BRG and SLW. Do your own DD.


5 posted on 01/17/2014 8:23:09 AM PST by BipolarBob
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To: Errant
I love free advice.

Buy if you’re so inclined.

6 posted on 01/17/2014 8:24:59 AM PST by DManA
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To: DManA
I love free advice.

Plenty of that on the internet. I just don't wish to give bad advice, free or otherwise. We've all been surprised to what extent they've been able to manipulate ALL of the markets. Personally, I'm moving from holding to a strong interest in adding - but certainly NOT selling at this time.

Then the Chinese for instance, large holders of gold, are reported to be having liquidity problems. If a rumor was started that they are thinking of selling even a small portion of their gold, the price would be greatly affected.

It's being reported that premiums are now increasing. Watch the premiums at APMEX or someone else you trust, as they are more likely to reflect local difficulties in acquiring physical gold or silver.

All things to consider....

7 posted on 01/17/2014 8:42:14 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: ckilmer

Ping. Explain how this can’t possibly be true.


8 posted on 01/17/2014 8:42:23 AM PST by Publius ("Who is John Galt?" by Billthedrill and Publius now available at Amazon.)
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To: lurk

The market doesn’t see it as a big deal. It’s still trading at the low end of the 52 week price range. Up $9.50 today at about $1249 oz.


9 posted on 01/17/2014 8:43:10 AM PST by Beagle8U (Unions are Affirmative Action for Slackers! .)
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To: BipolarBob
The fed would fight this but may have to bow to demands from other governments.

Yes, and watch the dollar index to gauge how hard the Fed (and other central banks) will fight. Recently, the closer the dollar gets to 80 on the index, the harder they fight to keep the price of gold contained - could change in the future of course with these new developments.


10 posted on 01/17/2014 8:48:03 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: lurk

My advice is to buy low and and sell high.


11 posted on 01/17/2014 8:51:06 AM PST by PGR88
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To: FReepers

Click The Pic To Donate

Support FR, Donate Monthly If You Can

12 posted on 01/17/2014 8:51:21 AM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: BipolarBob

“Do you own DD.” (?)
I made money on DDD:)

I’m off to look at BRG & SLW


13 posted on 01/17/2014 8:51:52 AM PST by Cold Heart
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To: Errant

Germany is upset the FED has already sold all the gold they have been storing for the Germans. I read somewhere that the Germans asked for it back, and the FED said - OK, within the next 7 years....


14 posted on 01/17/2014 8:52:16 AM PST by PGR88
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To: Free Vulcan

Ping. BS? Reverse psyops?


15 posted on 01/17/2014 8:52:45 AM PST by Publius ("Who is John Galt?" by Billthedrill and Publius now available at Amazon.)
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To: Southack

Ping. Another idiotic article?


16 posted on 01/17/2014 8:53:11 AM PST by Publius ("Who is John Galt?" by Billthedrill and Publius now available at Amazon.)
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To: Errant

Actually, it’s been a pretty good day for gold, silver, and the other precious metals.

There was a bottom of some kind right at the turn of the year. It’s hard to be sure, and there may be another pullback going into this spring, but I think we may be getting a bottom here, after two years of pullback.

The trader statistics are positive, with speculators and small traders going short and the big guys mostly out of their shorts, which they’ve been playing for quite some time.

My guess is that we’ll continue up further for a couple of weeks, pull back some, and then sometime this spring develop a long-term bull market. But that’s just a guess.

DYODD. Do your own due diligence.


17 posted on 01/17/2014 9:03:27 AM PST by Cicero (Marcus Tullius)
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To: Cold Heart

My mistake BRD instead of BRG. I bought Brigus Gold before a buyout offer from PPP so I’m up pretty good on it. SLW is a silver streamer instead of a miner. I buy the dips and sell the rips. GL


18 posted on 01/17/2014 9:05:24 AM PST by BipolarBob
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To: Cicero
Just did a quick check of APMEX premiums and siver premiums are way up.

1 oz Silver American Eagle (Random Year)
As low as $3.89 per coin over spot!

Gold is still down:

1 oz Gold American Eagle (Random Year)
As low as $54.99 per coin over spot!

19 posted on 01/17/2014 9:22:16 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: lurk
I wouldn't assume the downtrend is broken yet.
20 posted on 01/17/2014 9:31:31 AM PST by DannyTN (A>)
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To: Errant
Note to self,

siver premiums are way up.

Silver Prices When Monetary Demand Trumps Industrial Demand

21 posted on 01/17/2014 9:47:10 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

The start of a new currency war? Or just a part and continuation of the one were in with China?


22 posted on 01/17/2014 9:56:48 AM PST by GOPJ ("Remember who the real enemy is... ")
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To: Publius

Ping. Explain how this can’t possibly be true.
............
Why would I want to do that?


23 posted on 01/17/2014 10:01:30 AM PST by ckilmer
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To: GOPJ

Another twist in the continuation I assume. All fun and games until it gets out of hand.


24 posted on 01/17/2014 10:02:35 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: DManA
"Buy if you’re so inclined you can afford it.",/i>

Humans will ALWAYS be infatuated with gold because this phenomenon is embedded in our DNA. It's embedded in our DNA because we are ancestors of the Annunaki who came to Earth for the sole purpose of mining our gold to save their planet (Nibiru).

25 posted on 01/17/2014 11:49:51 AM PST by CivilWarBrewing
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To: CivilWarBrewing

I heard a theory once that we are attracted to shiny things because water sparkles and shines and water means life.


26 posted on 01/17/2014 12:02:04 PM PST by DManA
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To: Errant

I am loving it. :-)


27 posted on 01/17/2014 1:07:01 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Georgia Girl 2
I am loving it. :-)

I hear ya, but it signals something a lot of us have been worried about for some time now. A brief piece that describes it:

"Nothing can be done to avoid the UNFOLDING collapse. It is written in stone and has happened countless times in history and we are below the event horizon of a proverbial BLACK HOLE, thus our fate is INESCAPABLE. We have placed our trust in sociopaths and psychopaths and they are driving us to the ultimate societal and financial denouement. It is a story that can be seen littered throughout history and the FINAL outcome has never deviated. It is a story of Man versus God and Darwin, and Mother Nature. "

Pandoras Box 2014 - The Largest Financial Collapse in History

A few others who are saying 2014 will be pivotal:
John Williams
Mark Faber
Gerald Celenti

28 posted on 01/17/2014 1:54:37 PM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant
Yeah, then there's that... the inevitable...
29 posted on 01/17/2014 2:26:21 PM PST by GOPJ ("Remember who the real enemy is... ")
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To: Errant

The train is going off the tracks and nothing will stop it from happening. If you are not making serious preps for it you need to start yesterday.


30 posted on 01/17/2014 7:23:16 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Georgia Girl 2
If you are not making serious preps for it you need to start yesterday.

Agree

More on Silver: Something’s Afoot in Gold and Silver Market…

31 posted on 01/17/2014 7:33:02 PM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: GOPJ
the inevitable...

Most people do not have a clue how bad this could get. The collapse of a specialized economy which we live in today will make the Great Depression look like a Sunday picnic. There will be less food to go around this time since we've have nowhere near the amount of people living an agrarian lifestyle as we had in the '30s.

I wish and pray there was a way to avoid it, but I don't see enough people waking up to what is about to happen to make a difference. Even Congress, in the latest budget passage, seems to have withdrawn from the fight.

32 posted on 01/17/2014 7:52:34 PM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

It will bring on the terminal crisis of the welfare state and the end of the New Deal paradigm, which turns 81 on March 4.


33 posted on 01/17/2014 7:55:27 PM PST by Publius ("Who is John Galt?" by Billthedrill and Publius now available at Amazon.)
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To: Publius

Maybe it’s a counterstrike against the dollar, but it would seem to me that Germany would want to keep a lid on gold for the same reason anyone with a shaky paper currency would - to keep people from flooding to it.

Plus, Germany and the Eurozone should want a strong dollar as it increases their imports. This wouldn’t totally square with what the Chinese are saying, nor does it make sense in and of itself, unless there’s an angle I’m missing.

Which is entirely possible. With so much money and derivatives sloshing around out there today it’s hard to know sometimes what the true objective is. The complexity of the chess game has multiplied by many orders of magnitude since I worked on the street many years ago.


34 posted on 01/18/2014 10:45:05 AM PST by Free Vulcan (Vote Republican! You can vote Democrat when you're dead...)
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