The London Bullion Market, the location for buying gold has been struggling for years. Not financially, the Russian lust for the yellow metal saw to that, but intellectually. The traders behind the London Bullion Market always prided themselves on their ingenuity and mercantile skills. Entire macroeconomic studies were developed to guide the trade of gold.
Russia’s “new economics”, where the state had suddenly decided it wanted to adopt a gold standard, the London Bullion Market suffered a devastating intellectual blow. One trader described it as:
> “I’ve spent decades at Oxford, and have a PhD in economics. Russia even announcing intentions to adopt a gold standard is so far removed from reality that’s its no longer fun. Earning money of the backs of those poor suckers is no longer the gentlemanly sport of bullion trading London is known for.”
Although Russia’s was widely described as “no fun” by economists, it was the recent Sepharadi discovery that was the nail in the coffin. For years, tensions between international and Sepharadi economists had been high, as a result of their usage of the number Ome. Everything from basic economic theory, to the spreadsheet tools used for accounting broke in the face of Ome. Needless to say, the entrenched academia was not happy with this new finding, especially seeing as how Sepharad was hesitant to share many details on Ome. Being told everything you know is wrong is already bad enough, not being told why or how is infuriating. Issues only compounded when the Gentlemen of the London Bullion market found out they had become the butt of jokes.
However, discussions kept itself at “agree to disagree”, or perhaps at “I don’t want to deal with that topic, so I’ll ignore it”. Some commend the bullion traders’ professional attitude in this sense, while others say its simply the stuff British lip.
All hell broke lose when Sepharad discovered El Dorado however. Differences, even fundamental, in economic theory is one thing. A city of gold is on another level. Almost 80% of all gold bullion traders were seen throwing their hands hopelessly into the air and giving up when the news broke.
The remaining 20% are suffering heavy casualties to why-do-I-still-try-to-trade-gold-when-Sepharad-has-so-much (WDISTTTGWSHSM). They, alongside the London Bullion Market have taken up refuge in Cardiff. Bank of Wales has taken over
... keep reading on reddit ➡And in U.K. we pay 20% VAT on top for silver and they still seeing unprecedented demand. It’s definitely happening!
If these Price smashes continue for some more time, then there will be no physical silver available in the market. And then you know what will happen - Silver will rise by $10 overnight and burn this Cartel forever.
https://preview.redd.it/jmspfksf2c571.jpg?width=946&format=pjpg&auto=webp&s=fe961db4784f5302a0db7491db60ef4ca945458e
So the LBMA thinks its not a big deal if they overstate their inventory by a massive amount of silver? If you 'own' any amount of physical bullion that remains stored in the warehouses of the LBMA or Comex after this latest stunt, may I say that you deserve to lose every penny of your money. I will have no sympathy whatsoever for those clueless sheep that get served up from the fraud if after so many clear warnings and indications they still opted to sit on their asses and assume everything was fine. It is only through the support of these enabling fools that the corruption at these bullion banks has been able to continue for so long.
This morning is just the latest illustration. When the inflationary data is presented and silver initially surges off the news (as it should) and then is immediately driven straight down in reaction by criminal traders - that is your ringing bell that this market is utterly fucked. And it has been so for many, many years.
I am already all in. I want to keep buying and I know exactly how this all ends, but I have the bare minimum of cash on hand left to continue paying bills. Buying this dip is a great idea but I bought every one of the last 40 or 50 dips. Im tapped out. Im fed up. Bring on the fucking crash and I am not in the least interested in hearing the crying in the aftermath from those that refused to take action when the situation became obvious.
https://www.ibisworld.com/global/industry-trends/biggest-industries-by-revenue/
See this link - largest industries by revenue est for 2021. All kinds of insurance incl health is total $7 trillion a year market. Thats how much insurance companies collect from people. Now, silver is also a form of insurance - from all other assets losing in value. Fiat curr and bonds may lose value, stocks, properties, etc. Metals were always moving in opposite direction.
In light of this , can people put 1/10th as much into silver bullion just as a insurance /hedge? Why not? What would be the reason they could not? I mean in a crisis most people would rather diminish their life, home, car, health insurance plans. 10% of that revenue can easily flow to silver.
What a shiny perspective: 700 billion dollars a year trying to buy 350M oz silver bullion minted by mints?
Sure, other 10% of that 7T pie can flow to gold, its also insurance asset.
I dont even count how much less cars, travel , iphones, botox procedures, cosmetics, clothing masses will buy when SHTF. At some point people will seek a vehicle to store value during a crisis. To protect wealth.
