Skip to comments.German Gold Manipulation Blowback Escalates: Deutsche Bank Exits Gold Price Fixing
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 ...
So, does this mean BUY or SELL?
Buy if you’re so inclined. But then I’m NO financial advisor and I haven’t stayed in a Holiday Inn in years. ;)
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.
Buy if youre so inclined.
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....
Ping. Explain how this can’t possibly be true.
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.
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.
My advice is to buy low and and sell high.
“Do you own DD.” (?)
I made money on DDD:)
I’m off to look at BRG & SLW
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....
Ping. BS? Reverse psyops?
Ping. Another idiotic article?
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.
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
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!
siver premiums are way up.
The start of a new currency war? Or just a part and continuation of the one were in with China?
Ping. Explain how this cant possibly be true.
Why would I want to do that?
Another twist in the continuation I assume. All fun and games until it gets out of hand.
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).
I heard a theory once that we are attracted to shiny things because water sparkles and shines and water means life.
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. "
A few others who are saying 2014 will be pivotal:
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.
More on Silver: Somethings Afoot in Gold and Silver Market
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.
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.
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.
On the other hand, we are much better at mitigating these problems. Our understanding of the art/science of economics is greatly improved, as is medicine, agriculture, etc. One advantage to this might be that many illegals go home, as happened during the depression. The quality of our military personnel might soar as well as middle and upper middle class young men have few opportunities. The situation might be bad, but there will be silver linings.