Gold and Silver Paper Illusions Coming to an End
Gold and Silver Paper Illusions Coming to an End by Rory – The Daily Coin
The crime syndicates known as the COMEX and LBMA have been fully exposed over the past several years – really beginning with the 2011 assault on both gold and silver when the flood of paper contracts derivatives overwhelmed the market to stop the “moon shot” that was unfolding. If you remember gold had an intraday high of approximately $1,920 and silver was north $49 and both were brutally smashed on a Sunday evening for absolutely no reason. This, in my opinion, was the beginning of the end. Entirely too many eyes turned to the market to see what happened and, more importantly, people wanted to know WHY it happened. When the “why” came up empty, there was a collective “hmmm” that could be heard around the world.
Then in 2016 and 2017 the criminal market rigging was fully unmasked in a court of law. This was followed by not one, but two different class action lawsuits. Not sure how many more hits these two criminal enterprises can take before they completely implode and fall on their own knife.
As RT International is reporting via Gold Broker
Gold prices are going to rise this year, predicts veteran commodities trader Vince Lanci, founder of Echobay Partners.
“The last three days have reconfirmed my commitment to a much higher gold price in 2018. We are making higher lows for the year – the recent behavior made me nervous, but something very telling happened in the last three days,” Lanci said in a December interview with The Street.
If his predictions are right, gold will hit $1,700 an ounce or higher in 2018, a $400 rally from the current level of $1,300 an ounce.
“On Tuesday we had a short covering rally. And Wednesday there was a 10,000 contract increase in December – that’s very unusual, that is an over 2.3 percent increase in open interest,” Lanci explained in an interview initially printed before the Christmas holidays.
Gold prices were down in December, as investors chose more stocks because of US President Donald Trump’s tax plan nearing completion.
Many investors in gold say the price of the precious metal is artificially curbed because of the paper gold trading on Western exchanges.
According to Claudio Grass, of Precious Metal Advisory Switzerland, the total trading volume in the London Over-the-Counter (OTC) gold market is estimated at the equivalent of 1.5 million tons of gold. Only 180,000 tons of gold have actually been mined up to today.
“The paper scams in London and New York will either blow up when the paper price of gold drops to zero or when just a fraction of investors insists upon receiving physical gold in return,” Grass told RT.
BRICS countries led by Russia and China are considering launching a gold standard based on physical gold.
“This will present a viable challenger that could over time lead to a break up of the current system since the West will likely still trade paper gold in the meantime,” said Grass.
We believe 2018 is going to allow for even more exposure of the crimes being committed by these out-dated organizations that have held precious metals in check for entirely too long. We can only hope the next system is not as criminal as the current system. It will, in our opinion, be another banking mafia organization that runs the precious metals markets we are looking for something a little less intrusive and markets that are a lot closer to free.