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Jesse

Posted by ipso facto @ 11:13 on April 4, 2016  

Rickards: ‘Unallocated Gold Is a Euphemism for No Gold.’

I think that Rickards is correct in his judgement, and joins many others including Kyle Bass, who because of their backgrounds are much harder to ridicule and dismiss by the creatures of the bullion banks. And in some of their more recent remarks about this, one can almost feel the desperation. And here and there, the rats seem to be leaving the ship.

When this pyramiding of bullion and price manipulation falls apart, which history suggests that it must, there will be many angry investors demanding explanations of officials and regulators and bankers who will be shuffling from one foot to another, trying to excuse their lack of good fiduciary judgement and responsibility.

I just wonder if they will try to wait for some ‘big event’ to disclose this, in the hopes that fewer questions will be asked, and will be more easily dismissed.

As Rickards notes, and again I think he is right, they will ‘close the gold trading window’ and force settlements for cash at one price, and then reopen the price for actual bullion at a price that will climb shockingly higher, despite a determined PR campaign by their friends in the media.

Perhaps I am wrong about this, but to me it has seemed for some time to be all too similar to the improbable sustainability of the Madoff scheme, and other such arrangements that depend on large numbers of people accepting a proposition that is dangerously misconstructed, misrepresented, and therefore mispriced in terms of risks.

cont. http://jessescrossroadscafe.blogspot.com/

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.