Wednesday, August 13, 2014

The Beginning Of The End Of Precious Metals Manipulation: The London Silver Fix Is Officially Dead | Zero Hedge

The Beginning Of The End Of Precious Metals Manipulation: The London Silver Fix Is Officially Dead | Zero Hedge

We’ll see what happens on Aug 14th. ~ BP
Originally posted on Our New World:
Following a crackdown on precious metal manipulation by various European regulators (mostly Germany’s BaFin, recall “Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says”), which led to the shocking outcome that Deutsche Bank would pull out of the London gold and silver fixing committees, the London Silver Market Fixing company ended up with a most curious outcome: it would have just two members: HSBC and Bank of Nova Scotia. And, as an even more shocking result, overnight the London Silver Fix announced that after August 14, 2014 it will no longer exist – the first of many victories for all those who have fought for fair and unmanipulated precious metal markets.
From the press release:
The London Silver Market Fixing Limited (the ‘Company’) announces that it will cease to administer the London Silver Fixing with effect from close of business on 14 August 2014. Until then, Deutsche Bank AG…
View original 110 more words

Share this:

http://2012thebigpicture.wordpress.com/2014/08/12/the-beginning-of-the-end-of-precious-metals-manipulation-the-london-silver-fix-is-officially-dead-zero-hedge/

2 comments:

Anonymous said...

Don't mean a thing. Gold and silver will still be manipulated as usual.

Anonymous said...

Watch gold and silver take a dive after the 14th. The London silver fix has nothing to do with the prices.