by Jeff Nielson, Sprott Money News:
In a recent discussion with a reader; the observation was made that the bankers’ (paper) futures markets (for gold and silver) “could never default”, because of the mechanism of “cash settlement”. It was a reasonable statement, in the sense that similar assertions have been made by various market pundits and banking officials (although never as an official policy statement).
That remark was a clear indication to me of how completely and absolutely perverted are the (Western) markets of the 21st century. This perversion can be illustrated by doing nothing more than reviewing how our markets are supposed to function – and then comparing that to the rigged, corrupt casinos which we call “markets” today.
There is no better starting point than the futures markets for gold and silver. Why were these (primarily) paper “futures” markets ever created by the bankers, in the first place? As usual; when the One Bank created this massive (and systemic) fraud-scheme,
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