Posted by EXOGEN on August 12, 2014 at 5:01pm
(*)(*) not that we need the reminder (as we are smarter than the average bears )August 7, 2014
Precious metal investors have been patiently awaiting the end of the London Silver Fix, which is set to end on August 14th. We knew that something would be ushered in to replace it, but until now, the community has been left in the dark.
The lights have been turned on and the darkness exists no more. It was only a matter of time before the system scrambled together a new system to replace the one that stood for over a hundred years. The “powers that be” could not simply stand by and allow the free market to propel the price of silver to its true fair value, which undoubtedly would be much higher than current levels.
Those taking up the torch, are the CME Group and Thomson Reuters, who will begin administering the new system on August 15th.
The name, which was clearly chosen to sound much less like an organization that’s sole cause is not blatant manipulation (unlike the London Silver Fix), is the “London Silver Price”.
The International Swaps and Derivative Association (ISDA) made the following announcement:
On 14 May 2014, the London Silver Market Fixing Limited announced that it would be winding down the administration of the London Silver Fix on 14 August 2014. Further to a market consultation run by the London Bullion Market Association, an alternative London daily silver price mechanism, the London Silver Price, is expected to be available from 15 August 2014, such price to be administered by CME Group and Thomson Reuters.
According to zero hedge the "silver fix" ends 8/14/2014 at 12:00 noon...www.zerohedge.com/news/2014-05-14/beginning-end-precious-metals-manipulation-london-silver-fix-officially-dead
August 12, 2014
Very interesting....may go along with this post by Serendipity from Dinar Recaps This morning:
August 12, 2014 at 4:25am
What does everyone think about this comment on Dinar Detectives? It was a reply to Jester's post. Supposedly some gold/silver seller is claiming that the FED is done on August 14th. The comment is below.
"Aug 14th is when Deuches banks 55 trillion in derivatives goes belly up and starts the 200 plus trillion derivatives market crash because of the US freezing of Deuches's financials due to a so called penalty the US is imposing on them.
This is the manufactured crash the Cabal let's loose every time they starts losing control or is about to be found out. Like 9/10/2001 when Rumsfeld made an announcement we lost 2.2 trillion (besides many other planned outcomes) and we don't have a clue where it went.
Then 9/11 hit. All news changed and the new world we live it raised out of the ruins.
Aug 14 is the trigger."
geturcluehere > Serendipity
August 12, 2014 at 5:58am
It may be just a coincidence but the London Fix thru the City of London (Rothschilds) on gold is to be terminated on the 14th of August.Three or four men have sat in a small room every morning, five days a week for over 100 years and have determined the spot price of gold. Now that's power!
I'm not clear on the mechanics of this action or what it portends, however, you have to think that our "controllers" who have been manipulating and dictating to the world for over a century or more what it is that we are expected to pay for certain commodities to suddenly allow it to float in order to find a level and establish a price could spell disaster for the unprepared. Buy, sell; who the heck knows?
Is there a connection to the GCR and could this be THE manufactured event needed to create sufficient cover for the installation of a new financial system? All hell just may break loose while PMs but especially gold may soar.
It's conjecture and pure speculation on my part as I really don't know for sure.
August 12, 2014
The current operator of the benchmark - London Silver Market Fixing Ltd - said in May it would stop running the daily fix-setting conference call, following increased regulatory attention in the wake of benchmark manipulation in other markets.
The LBMA had subsequently consulted with market participants with the aim of producinga transparent electronic alternative that complies with toughened regulatory standards.
The new process starts on Aug. 15, the LBMA said.