Like LIBOR 'fixing' was a conspiracy, until it became a 'fact' so is the rigging of the precious metals markets...considered by some a 'conspiracy' but soon to become a 'fact' and a painful one at that.
Connect some dots:
- JP Morgan recently 'quit' the precious metals markets, and now Deutsche Bank has...
- Last year, Germany requested the repatriation of 674 tons of its Gold held offshore, the bulk of it at the FRBNY. They were told to go fly a kite...
- Of a minimum 87 tons scheduled to be repatriated to Germany of this 674 tons, only 37 tons have been so far. Only five (5) tons came from the FRBNY, the rest from Paris...
- China has likely more than doubled its Gold reserves (as far as they will openly admit) from 1,054 tons to 2,710 tons, overtaking Italy and France while breathing down Germany and America's backs...
- Want to 'bet' that China will replace Deutsche Bank on the LBMA (China became a member in 2011) "Gold fix?"...
And meanwhile, the 'unusual' yet seemingly 'new normal' shenanigans continue on the (CRIMEX) spot market.
- A desperate sign that the metals 'manipulation scheme' is nearing an end?
Take away: Hold Gold (Panda's) and/or learn Chinese. Neither one will hurt you like Western fiat paper will.
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