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 ...
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 can’t possibly be true.
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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. "
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
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.
Agree
More on Silver: Something’s 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.
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