Difference between revisions of "Gold & silver"
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+ | {{quote|Banks treat their metal deposits in much the same way as they do deposits denominated in money, as the reserve asset against which they lend additional money to borrowers.|[https://www.bullionstar.com/gold-university/bullion-banking-mechanics#en-2665-3 CPM Group]}} | ||
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+ | Under the LBMA definition, an "unallocated" gold account is one in which the customer merely has a claim on the bullion bank account provider for an amount of gold. The bullion bank in turn has a liability to the customer for the same amount of gold. Importantly, in the LBMA system, the customer is an '''unsecured creditor''' of the bank. Gold trades are settled using the "loco London" mechanism which simply means a quoted price is for a trade which settles using ''unallocated gold'' "delivered" in London, i.e. the trade settles using the London Gold Market system of unallocated gold accounts and clears though the unallocated London Precious Metal Clearing System (LPMCL) clearing system. The standard for the metal that an unallocated balance represents is theoretically defined as ''995 fine gold in London Good Delivery Bar format''. However, nothing is actually delivered under unallocated trading, i.e. there is no physical transfer of anything between the parties to the transaction. The transfer is merely a book entry. | ||
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== Gold == | == Gold == | ||
{{#ev:youtube|IHliPYpjBGc|300|right}} | {{#ev:youtube|IHliPYpjBGc|300|right}} |
Revision as of 11:10, 21 July 2019
Banks treat their metal deposits in much the same way as they do deposits denominated in money, as the reserve asset against which they lend additional money to borrowers. | |
— CPM Group |
Under the LBMA definition, an "unallocated" gold account is one in which the customer merely has a claim on the bullion bank account provider for an amount of gold. The bullion bank in turn has a liability to the customer for the same amount of gold. Importantly, in the LBMA system, the customer is an unsecured creditor of the bank. Gold trades are settled using the "loco London" mechanism which simply means a quoted price is for a trade which settles using unallocated gold "delivered" in London, i.e. the trade settles using the London Gold Market system of unallocated gold accounts and clears though the unallocated London Precious Metal Clearing System (LPMCL) clearing system. The standard for the metal that an unallocated balance represents is theoretically defined as 995 fine gold in London Good Delivery Bar format. However, nothing is actually delivered under unallocated trading, i.e. there is no physical transfer of anything between the parties to the transaction. The transfer is merely a book entry.
Gold
- 2019-03-20: Basel III - BIS upgrade gold to a 0% risk asset in preparation for next crisis
- 2015-12-24: Giant Turkey-Dubai-Iran gold scandal
- 2015-01-08: Missing piece in the gold-repatriation puzzle
- The people have been buying up all the silver coins not JP Morgan, and not gold coins
- Banks pillaged allocated gold and silver accounts
- Must money be backed by gold?
- Goldbugs vs Greenbackers (WebOfDebt) - An excellent explanation of the fallacies of the gold standard
- Geopolitics and the World’s Gold Holdings
- Against the Gold Standard
- The History of Gold and the Future of Bitcoin
- R.I.P. - The London Gold Pool, 1961-1968
- Ron Paul – “The Gold Price is Rigged by Central Banks” - with excellent sources list
- Ouro Absoluto - buy gold online in Brazil at global bullion price
Silver
- 11 Jul 2019: A Whale Is Accumulating Silver Futures
- 11 Feb 2019: Jeff Clark Live in Vancouver: The One Reason Silver & Silver Stocks Will Explode Higher
- 10 Dec 2014: Silver is the Pressure Point Knockout! - excellent three part series
- 24 Nov 2014: The Answer to this Question Will Change Silver Forever
- 10 Nov 2014: The Most Important Question about Gold and Silver Price Suppression, Answered!
- Gold And Silver Shorts Were The Real Demise For Bear Stearns
- Ted Butler: JP Morgan’s Perfect Silver Manipulation Cannot Last Forever
- JP Morgan Holds Highest Amount Of Physical Silver In History
- Naked Gold Shorts: The Inside Story of Gold Price Manipulation
- 10 Reasons Why Gold Is The Gut Reaction And Why Silver Is The Smart Decision - and another copy with more links here