Loading ...WTF? Europeans Can Now Only Place Sell Orders On Sprott Physical Gold & Silver Funds
This is why we buy physical, right?
Also this article.
The Bank of England’s Role in the London Gold and Silver Price Rig posted 6/1/24
Who Watches the Watchers?
The Bank of England regulatory authority have thus taken oversight of the London gold and silver market with voluntary codes of conduct by traders and allow for creation of Unallocated gold and silver spot contracts that are mere promissory notes of the issuer.
Issuance of unallocated promissory notes in the spot / cash market for gold and silver allow the creation of an artificial supply of metal that is held by investors and traders globally as equivalent to physical bar ownership whereas, due to the potentially unlimited leverage, these contracts are far from that. The holders of unallocated spot contracts are left as mere unsecured creditors.
WOW…INCREDIBLE YYZ
GREAT SLEUTHING
It will be interesting to see if Canada and the US follow suit. If they do it will be game over for the price suppression.
So, who do they get to sell PSLV/CEF to?
If it comes to Canada/US, how will we sell our holdings?
This reminds me of what they did in 1980 when silver first went to $50.
That is the idea. They don’t want buying, only liquidation. Somewhat like they did to the Hunt brothers but by taking the physical ETF’s out of play, they are speeding up the day of reckoning when everyone demands physical in their own possession and not enough exists to offset all the paper silver contracts in existence.