"The people of England have been led in Mesopotamia into a trap from which it will be hard to escape with dignity and honor. They have been tricked into it by a steady withholding of information."
T. E. Lawrence
A top German regulator, Elke Koenig, said today that the price rigging in currencies and precious metals is 'worse than LIBOR.'
China has supposedly disclosed that they are now have the third largest gold holdings in the world, having surpassed Italy and France. This is a subject of controversy because China has been notoriously reluctant to disclose its central bank gold dealings.
There was no movement of gold bullion in or out of the Comex warehouses yesterday. Deliverable gold is at lows we have not seen in many years, representing a 112 to 1 ratio compared to open interest, which I suspect is an all time record. This would indicate higher prices ahead in a normal market.
Change is coming.
Have a pleasant evening.
