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  • » Gold price manipulation and the implication for us buying physicals ?

#1 2016-12-13 22:00:54

masmas
Member
From: Sydney, Australia
Registered: 2016-08-09
Posts: 284
Trades :   

Gold price manipulation and the implication for us buying physicals ?

People,

After reading from the various specialized news source (trusted and independent) regarding Gold price movement, I'm interested and surprised to know about the gold & silver price manipulation that has been around in the world.

For example, This news of big banks controlling or manipulating the precious metals price has been around since last year, but so far the accused Bank is still operating as normal:
https://lawrieongold.com/2015/03/24/lbm … e-rigging/

This is the recent news published regarding the same bank who did it:
https://www.moneymetals.com/news/2016/1 … uit-000967

It's Deutsche Bank's stunning admission that it and other banks have criminally suppressed the paper price of precious metals for years.
Deutsche Bank's confession came after suspicious investors sued a string of banks.
German regulators even started investigating the bank's illegal actions in the gold market.
To save its own hide, the bank recently agreed to turn on co-conspirators in the price-fixing scheme.

From the news article above, there are some of the famous big name: Bank of Nova Scotia, UBS, Barclays, HSBC, Fortis, Standard Chartered, and Bank of America. Surprisingly there is no JP Morgan, Credit Suisse or BNP Paribas mentioned.

Gold statistics manipulation on Chinese market by Reuters Gold Fields Mineral Services (GFMS):
https://www.bullionstar.com/blogs/koos- … tatistics/
https://www.bullionstar.com/blogs/koos- … -illusion/

So after reading those various news source above, does buying physical precious metals is still make sense to preserve the wealth for long term ?

Any kind of comments or input would be greatly appreciated.

Thanks,


Regards,

M.A.S

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#2 2016-12-14 04:49:53

tolly_67
Member
Registered: 2010-05-17
Posts: 1,660
Trades :   

Re: Gold price manipulation and the implication for us buying physicals ?

Buying precious metals makes sense, but not because of the reasons of alleged manipulation.
It will be the collapse of economies, currencies and especially government bonds that will drive money into tangibles...and the stockmarket...and the U.S. dollar initially.
It is a bit like the story of the blind men using touch to describe what an elephant is. Each man touches a different part of the elephant and in turn they all have a different description.
So it is with this manipulation. You cannot deny that there is short term manipulation but this is not the elephant. Sure, some currencies are going to crash but, again, another part of the elephant. Enormous debt, another part of the elephant.
Open your eyes and see the whole animal.

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#3 2016-12-14 05:00:04

alor
Silver Stacker
From: Pulau Alor ;)
Registered: 2011-06-16
Posts: 4,461
Trades :   39 

Re: Gold price manipulation and the implication for us buying physicals ?

hard assets vs paper
hard assets that are not financial claims.

if you have the 1000 note, and India just made is ok only for 100 note. possession is a real problem
when cash is turned into trash, you can not hold that safety.

if we can not even trust the issuer of that paper, we can never ever trust the derivatives of that love. smile


Hear Say See -> N o t h i n g
May this stacking hobby be my blessing smile

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