German Regulator says gold manipulation is worse than libor scandal

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http://www.zerohedge.com/news/2014-...anipulation-worse-libor-german-regulator-says

Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says

It may be time to shift yet another conspiracy "theory" into the "fact" bin, thanks to Elke Koenig, the president of Germany's top financial regulator, Bafin, which apparently is not as corrupt, complicit and clueless as its US equivalent, and who said that in addition to currency rates, manipulation of precious metals "is worse than the Libor-rigging scandal." Hear that Bart Chilton and friends from the CFTC?

The allegations about the currency and precious metals markets are “particularly serious, because such reference values are based -- unlike Libor and Euribor -- typically on transactions in liquid markets and not on estimates of the banks,” Elke Koenig, the president of Bafin, said in a speech in Frankfurt today

Interesting, he says gold manipulation is really bad, but it doesn't look like they're confirming it, just investigating it. I don't think they would be making these kind of speeches unless they had pretty good evidence though.
 
It's easy to complain about it when you are the one getting screwed. I'm guessing that Germany isn't getting their gold repatriated to their satisfaction.
 
Elke Koenig must be due for promotion or early retirement .............

Does he not know how the game must be played ?
 
It's easy to complain about it when you are the one getting screwed. I'm guessing that Germany isn't getting their gold repatriated to their satisfaction.

Yeah and I also don't think they're happy about being spied on either.
Who knows what information they may have found out via Snowden that they're not happy about...

I haven't posted a lot in a while, because whenever I start to follow gold, it always feels like the lid is just about to come off, and yet the saga just seems to go on...
 
I haven't posted a lot in a while, because whenever I start to follow gold, it always feels like the lid is just about to come off, and yet the saga just seems to go on...

Trouble is, because ( I suspect ) we are all feeling the same emotional response to the 'never quite getting there', weve become like the kids in the car. Weve stopped asking 'how much further' and dropped into that dull accepting mind state, knowing that we will eventually get there.

It makes the exchanges on the pm forums a lot slower because there really isnt much that hasnt already been said many times.
Which is why we need to make the effort to maintain communication.

I miss the buzz that we had here but am confident it will return when we finally start to see 'the lid coming off'
 
...
I haven't posted a lot in a while, because whenever I start to follow gold, it always feels like the lid is just about to come off, and yet the saga just seems to go on...

It's best not to get emotionally wrapped up in the spot price. One reason I try to focus on the petrodollar/world reserve currency issues (tin foil hat thread / total perspective vortex thread) is because there are serious and credible threats to upending the current financial status quo. I haven't seen anything yet that dissuades me from the notion that gold (and silver) will be reasserting themselves on the big stage eventually.

So, DCA is your friend and as others say, "just keep stacking".

...
It makes the exchanges on the pm forums a lot slower because there really isnt much that hasnt already been said many times.
Which is why we need to make the effort to maintain communication.

I miss the buzz that we had here but am confident it will return when we finally start to see 'the lid coming off'

The calm before the storm? :paperbag:
 
Could very well be the calm before the storm. It'll pay to keep up with events.

I find this German thing interesting on a number of levels. Now, this is only a theory, but here goes.
We're smashing the price of gold to make it cheap to repatriate them, yet are behind schedule by a lot.

It seems someone over there thinks they're not going to get it all anyway, so they're upset that we are manipulating the price of *what they already have* downwards, not understanding that we might let it go up (or it get out of control) once our obligation is fulfilled (if ever). It could also just be a failure to communicate inside Germany about the plan, and someone not in on the main game got upset.

Hangs together with all the other evidence. Nice to hear it coming from a respectable source, not a shill for selling gold, or some crackpot/whiner. We "knew" but this "confirms" with higher veracity.
 
...

We have been out of town and laden with visitors when back here... So, I have not been able to keep up with this one.

Yet another interesting little black hole re gold. So much is going on under the covers! Yes, keep stacking as income permits!

Maybe these various mysteries/scandals are all connected... That, of course, is conspiratorial thinking, but if you add up all the gold mysteries, well, you get some very large numbers! Yes, keep up with developments. 2014 "may be the year". As I thought each of the past several might have been...

Especially useful would be reports re shortages of gold coins at the retail level (affects us here) as well as reports of shortages at the 400 oz bar levels (that FOFOA, Turd, Jesse/Arthur, Sinclair, Harvey Organ, Bron Suchecki, etc. all follow) which would affect the central banks and the "Giants". Whew! And that's a lot of reading, above and beyond Pmbug and Zero Hedge...
 
Trouble is, because ( I suspect ) we are all feeling the same emotional response to the 'never quite getting there', weve become like the kids in the car. Weve stopped asking 'how much further' and dropped into that dull accepting mind state, knowing that we will eventually get there.

It makes the exchanges on the pm forums a lot slower because there really isnt much that hasnt already been said many times.
Which is why we need to make the effort to maintain communication.

I miss the buzz that we had here but am confident it will return when we finally start to see 'the lid coming off'

I've certainly taken PMBug's advice of 'DCA is your friend' even though I haven't been following the day to day happenings as much.

And I'm also sure that buzz will definitely return when the lid comes off!

Hopefully goldbugs will have a small window, where we'll be able to bask in the 'I told you so!' moment :wave:
Unfortunately this will probably be shortly followed by living off MRP's and trying to survive in a zombie movie... :flail:
 
Regarding "buzz" - I'd much rather converse with a few smart people than be in a shouting match with thousands of idiots. That's just me. And that's what we have here.
 
In today's news...

http://www.zerohedge.com/news/2014-...ered-paltry-5-tons-gold-ny-fed-after-one-year

. On December 24, a year after the Bundesbank announced its stunning decision...to repatriate 674 tons of gold from the New York Fed and the French Central Bank, it had managed to transfer a paltry 37 tons

However, what will certainly not help mute "conspiracy theorists" is today's update from today's edition of Die Welt, in which we learn that only a tiny 5 tons of gold were sent from the NY Fed. The rest came from Paris.

"The Bundesbank explained [the low amount of US gold] by saying that the transports from Paris are simpler and therefore were able to start

we wonder: how exactly is a gold transport "simpler" because it originates in Paris and not in New York? Or does the NY Fed gold travel by car along the bottom of the Atlantic, and is French gold transported by a Vespa scooter out of the country?
:rotflmbo:

Still not looking good, I guess this could be another reason as some have said why Germany are not going to put up with the gold manipulation much longer.
 
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