Abundant and profuse evidence has been produced by the Gold Anti Trust Action Committee (GATA) and numerous independent researchers proving - not just demonstrating - but proving that the gold price is heavily manipulated by the US government, its proxy banks, and European bullion banks. The jig is almost up for the manipulators.
King World News published astonishing information from London gold trader Andrew Maguire announcing the imminent opening a Chinese gold market to rival the London Bullion Metals Association (LBMA) and Commodities and Metals Exchange (COMEX). These criminal organizations have engaged in gold price suppression schemes since the 1960s when the London Gold Pool attempted to quash the gold price as the United States hemorrhaged its reserves.
The COMEX has not delivered physical gold in over 2 years because it is functionally bankrupt. Instead, it trades paper gold which it passes as the real thing to unsuspecting investors. The big bullion banks, such as JPMorgan Chase, HSBC, Deutsche Bank, among several others, sell massive amounts of naked shorts to fool the market into thinking that there is no demand for gold.
Interestingly enough, this practice is legal according to the 1933 Gold Reserve Act and amendments made during the 1970s, but naked shorting is illegal for private citizens.
The Chinese gold exchange will end this dishonest behavior by trading strictly in physical gold through a network of worldwide depositories and a lineup of big name brokers of whom Maguire is one.
In addition the exchange will open the wholesale market to large investors and hedgers through a completely anonymous trading platform which will prevent the bullion banks or any other entity from intercepting trades before execution in a practice known as front running. This knowledge is available to the American and British bullion banks who use it to their advantage to steal profits and income from investors.
The goal of the exchange is to break free of the tyranny of New York and London, along with their criminal syndicate of gold thieves. When the Chinese exchange goes live in March, it will ring the death knell to the price fixing scheme which has prevailed for well over 100 years.
The gold fix will not go away with the new exchange sponsored by the People's Bank of China, since it will issue its own daily fix in Beijing and Shanghai. However, that price will be based upon the physical price of gold rather than illusory paper gold. Gold prices are expected to rise dramatically if not explosively.
The launch of the Chinese gold exchange is a parallel effort to the Russian initiative to build a banking transaction system outside of the SWIFT network, a financial system which Washington and Jerusalem use to impose its economic will on the world, including the despised sanctions against Russia and Iran.
The impact of the Chinese gold exchange will be pervasive and extensive with the COMEX and LBMA gold businesses expected to go up in flames. Finally market forces will do the work which the criminal CFTC has failed to do.
King World News, Andrew Maguire – LBMA Paper Ponzi To Be Crushed As Gold And Silver Markets Change Forever!, February 27, 2015, accessed 2/28/2015
Copyright 2015 Tony Bonn. All rights reserved.