THIS IS BIG!
A MUST READ for those who own gold yet feel the market is manipulated - Central Banking: A Blight On Humanity
posted by Randy @ 11:16 AM
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ECONOMICROT
Discussion of Housing Bubble, US Dollar, Debt, Trade Deficit, Oil, Gold, Consumer Spending, Central Banks, Inflation, Outsourcing and the Bleak Future of the US economy
This Blog and/or the articles contained within have been referenced, linked or quoted in: Businessweek online, WSJ Online, Dollar Collapse, Safehaven, Silverbear Cafe, Financial Armageddon, Yahoo & Google Finance -- among many other blogs & web-pages... Thanks for stopping in for a read!
Monday, October 12, 2009
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- Name: Randy
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****HOME--MAIN BLOG PAGE**** I’m 42yrs old, retired from the USAF & manage a Telecomm organization. I have been writing about our bubble economy since 2005 & many of today’s economic events were actually anticipated and forewarned of. You should know that the U.S. Housing Bubble was only the latest symptom of much larger fundamental economic imbalances that have been building for decades - due to poor monetary and policymaking decisions. With that, I personally feel a major economic transformation is taking place right before our eyes & the prosperous “good life” that we’ve enjoyed in the US is ending. I have unrelated Telecom Eng. & Eng. Mgnt. Degrees, but have spent many thousands of hrs studying economic issues – providing me with a strong understanding of “the big picture” *****Disclaimer***** These articles reflect the opinion of this author and are by no means a guarantee of future economic conditions. Additionally, these articles are provided for INFORMATIONAL PURPOSES ONLY and are NOT MEANT to provide investment advice to anyone. For investment advice, please consult with your professional financial planner
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6 Comments:
Not that I am doubting the story but... I am not at all impressed by "someone on the inside said" with no names or verifiable facts connected to it. I am completely convinced the market is manipulated and that this and much worse is being done right now. However, give me some meat.
Get ready to pop your corks! Twelve trillion just around the bend.
Justin_n_IL
Anon 9:42,
No verifiable facts here either, but looks like the London Metals Exchange (LME) CEO is working on a new model for over-the-counter gold forward contracts -- to cut counterparty risks, credit costs, and prepare for a new era of stricter regulation. LME CEO confirms meeting with high-profile London bullion market members
LME CEO confirms meeting with high-profile London bullion market members, sees grounds for further talks
By Melanie Burton - Correspondent, press@fastmarkets.com (+44 (0)20 7929 6339)
London, 09 October 2009 - The LME has met with several high-profile members of the London bullion market recently and believes there are grounds for further talks, LME CEO Martin Abbott confirmed on Friday.
"I can confirm a recent meeting," Abbott told FastMarkets by phone. "As a result of the meeting, we believe that there are grounds for us to continue discussions with bullion market participants. There is no timeline."
The meeting is believed to have taken place on September 24, with at least five high-profile members of the bullion market meeting members of the exchange.
Representatives of large bullion bank, including HSBC, Goldman Sachs International, JP Morgan, ScotiaMocatta, and Deutsche Bank were in attendance, FastMarkets understands. Of these, all but ScotiaMocatta are LME members.
Although the subject of the meetings has not been disclosed, the London bullion market has, since the start of the year, been considering a new model for their over-the-counter gold forward contracts to cut counterparty risks, credit costs, and prepare for a new era of stricter regulation.
Competitor CME Group introduced on September 20 its OTC forward clearing offering to the London market, while clearing house LCH.Clearnet has vowed to have a service ready by April next year.
Discussions may also have touched on other services the LME could offer such as help with developing data collection and monetisation.
The LME said in July it was holding exploratory talks with members of the freight industry. It called for the development of a London Baltic Freight Exchange, which has so far met with a mixed reception.
Randy, great post.
Speaking of central banking, have you read END THE FED?
Take a breather and watch this guy.This guy is blessed with balance and maneuverability!
Justin_n_IL
Better versionThat guy
Justin_n_IL
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