Central Banking: A Blight On Humanity

[Peter Presland]

More evidence of a mad scramble to find 'London Good Delivery' standard Gold bars.

For info 'GLD' is the ticker for the largest of the Gold Exchange Traded Funds. These funds claim to posses 'allocated' gold bars to the total fiat value of the fund and publish daily lists of their serial numbers. They are still a very popular way for Jo public to invest in what they think is Gold. Most traders acknowledge that the physical holdings of the ETF's are just too big a temptation for those in control NOT to use it just an itsy-bitsy bit (or more) now and then to nudge the paper market - or whatever.

For further info "Allocated Gold' means serial numbered bars that are allocated to a particular owner (or fund) and cannot (or rather should not) be used by the bullion bank for trading purposes. 'Unallocated Gold' is simply a paper claim on the Bullion Bank for the real thing, leaving the bank free to trade with the stuff to its hearts content until called upon to deliver it.

In a follow-up to the first article posted in this thread, Rob Kirby provides more snippits which have a solid ring to them again.

By: Rob Kirby

Earlier this week, I wrote about possible “incongruities” in the gold bar registry of GLD. Specifically, here is what has happened to the GLD bar list which is published each Friday at approximately 4:30 pm EST. An alert reader I communicate with [who shall remain anonymous] has been documenting the length of the published GLD bar list:

-on Friday, Sept. 25 – the list was 1,381 pages long
-on Friday, Oct. 2 – the list was 208 pages long
-on Friday, Oct. 9 – the list was 195 pages long
-then, on Wednesday, Oct. 14 – after questions were being raised about the strange machinations with the bar list in chat rooms on the internet – the list was back up to 855 pages long

Something TRULY stinks here. No explanation has been offered for the DRAMATIC swings in this list. Where gold is concerned nothing happens by accident.

How Precious is Settled in London:

Loco London clearing is the daily paper unallocated transfers between London clearers; the transfers of gold and silver only across accounts held between clearers for their own accounts and third parties; and, as mentioned earlier, the clearing out of Zürich for the platinum group metals. It avoids security risk and the cost of physical movement of bullion; has standard market practices…

[However] Both allocated and unallocated account agreements are available. There are allocations for credit purposes, bilateral credit agreements between clearers, and London good delivery….

Some short definitions: an unallocated account is an account where specific bars are not set aside, and the customer has a general entitlement to the metal. This is the most convenient, cheapest, and most commonly used method of holding metal. The allocated account, on the other hand, is an account opened when a customer requires metal to be physically segregated, and this needs a detailed list of weights and assays….

To Summarize:

- GLD gold bullion inventory is principally held in London
- I’ve already written about some large [allocated] physical transactions that were settled last week in London under VERY strange circumstances indicative of a shortage of physical gold bullion for good delivery.
- At the same time, significant irregularities appeared in the GLD bullion bar list

Conclusion:

- is the correlated timing of these unusual events a coincidence???? Could GLD inventory have been utilized to effect these physical settlements, which in turn, would have required the “sanitization” or doctoring of the GLD bar list to avoid MANY obvious, easily detectable, duplications of bar numbers?

I discussed these irregularities with a very informed source [the same one who informed me of specific [allocated] trades settled last week] and the reply I received was as follows:

“What can I tell you that you don't already know?

They are all scrambling big time since a number of large interests have demanded audits. Independent auditors are NOW descending onto the various vaults to verify, validate and certify.

They can move this as many times in circles as they like to try to fool people.

In an Asian depository they’ve found “Good Delivery” bricks that had been gutted and filled with tungsten.

Soon, there will be xxxx hitting the fan all over place.”

These circumstances suggest that a VERY REAL physical short squeeze is in progress RIGHT NOW and a gang of fraudsters from “fiat-crack-houses” [Central Banks] are attempting to finesse their losing over-sold hand in an elaborate Three-card Monty. With reports of independent physical audits now being conducted and mysterious happenings with GLD’s bar list – GLD has NEVER looked more suspect.

Hope you’ve all got some physical gold already.

It really does look like we're about to see some fireworks.