On April 14, Deutche Bank (DB) admitted, in a court of law, that their precious metals desk had been rigging the silver market, and as the information began to surface, it was also discovered that DB had been rigging the gold market as well. This is only the beginning.
The members of GATA, namely Bill Murphy and Chris Powell, have been presenting evidence of precious metals market rigging to the world for close to two decades, and now we find that one of the largest banks in the world has been participating in this market rigging scheme. The real question is: will justice be served? Or will DB simply pay a fine, as Goldman Sachs did for the out-right theft and fraud that created the mortgage crisis that began in 2008? Only time will tell, but for now, the facts are on the table and the precious metals market rigging can no longer be denied by anyone.
They’re manipulating the silver market and then gold market; they’re going to turn on the other banks…the rats are cornered and it really could be quiet exciting. What it will really mean? You gotta wonder because of the way silver is trading so differently. Something is going on. -Bill Murphy
One of the more interesting aspects of all this is the timing. I no longer believe in coincidences, so the timing is very curious. On April 19, 2016, the Shanghai Gold Exchange (SGE) will begin offering physical gold, at spot price, but instead of the contract being settled in dollars it will be settled in yuan (Renminbi), the Chinese national currency. This will provide an alternative for companies and bullion traders around the world to acquire physical gold at the current stated spot price. This has huge implications for the current gold and silver markets that operate in London and Chicago. These two markets, over the course of the next year, will be impacted as more people begin using the new SGE physical gold market. We can only hope the impact is a tipping point for the precious metals markets.
The big deal will be them turning on each other and what comes out publicly and what reaches in the public domain and so on. Five years the CFTC looked in to what Morgan, what was going on in the United States. What did they find? Nothing. What’s going here, pick a number, 10, 50 times bigger than what Deustche Bank has been cited for. It is off the charts what is being done here. -Bill Murphy
In October 2015, the Yuan was added to the International Monetary Funds (IMF) fiat currency basket, Special Drawing Rights (SDR). This allows the yuan a global presence and allows other nations to trade yuan currency like the Euro, Dollar, French Franc, etc. As you can see, currencies, gold (gold is money) and silver (silver has been money longer than gold), are experiencing massive changes in a highly compressed timeframe.
As the ramifications continue unfolding, let’s celebrate this victory with all the other tinfoil hatters who have supported GATA, Bill Murphy, Chris Powell, and all the others, as the world now knows their money (gold and silver) has been rigged by the banking cartel. Another blow to the banksters. These criminal organizations have duped us long enough, and it is high time these criminals began serving prison time for their crimes against humanity. Maybe one day, justice will be served and these people will know what it means for their entire family's wealth to be evaporated as they have done to so many around the world.
Article reposted with permission from The Daily CoinDon't forget to Like Freedom Outpost on Facebook, Google Plus, & Twitter. You can also get Freedom Outpost delivered to your Amazon Kindle device here.