The Phaserl


BREAKING — NO FREE MARKET PRICING FOR SILVER: 117 Year Old Silver Fix Not Really Ending, Merely Changing Hands

[Ed. Note: CPM Group is led by establishment shill Jeffrey Christian. $5 Trillion in silver “circulated globally” in 2013 as reported by CPM Group, is 250X the amount of physical mined annually. ~SGT]

CME/Thomson Reuters to Run Replacement for Silver Fixing

About $5 trillion of silver circulated globally last year, according to CPM Group, a New York-based research company

by Nicholas Larkin, Maria Kolesnikova and Agnieszka Troszkiewicz, Business Week:

CME Group Inc. and Thomson Reuters Corp. will run the replacement for the 117-year-old silver-fixing benchmark that’s ending in August, the London Bullion Market Association said.

Testing is set for early August with the new mechanism to go live on Aug. 15, the LBMA said today in an e-mailed statement
. The London Metal Exchange, Autilla Ltd., Bloomberg LP, Intercontinental Exchange Inc., ETF Securities Ltd. and Platts had also proposed alternatives last month.

Mining companies to central banks use fixings to trade or value metal. The phone-based ritual for silver that takes place each day at noon will end Aug. 14 as Deutsche Bank AG’s exit from the process as it scales back its commodities business would leave just two banks to set prices …

… “With the imminent demise of the silver fix in mid-August, it was imperative that the market found a new mechanism to replace it,” said Nic Brown, head of commodities research at Natixis SA in London. “If the new silver fix is seen as a clear success, then that might encourage calls for it to be used as a blueprint for a new gold fix.”

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22 comments to BREAKING — NO FREE MARKET PRICING FOR SILVER: 117 Year Old Silver Fix Not Really Ending, Merely Changing Hands

  • Willy

    Surprise, did anyone really think anything was going to different? The crooks are in charge and will remain in charge. They will never ever let there be a true price discovery. So to all the experts out there predicting that PM’s are going to the moon. THAT WILL NEVER EVER HAPPEN!!!!!!!!!!!!!! This entire system needs to come down first, and the control that TPTB have on our completely messed up system will remain the same.This can still go on for a very long time to come.

    • John

      Calm down Willy. The crooks’ days are numbered. All in due time my friend. Click the link on Provident at the top of this page and PLEASE, you and everyone, take advantage of these fantastic bargain basement prices on silver and gold. One day soon we are all going to look back at these days and say to ourselves….”how come I didn’t see it coming, it was all so obvious.”

      • Willy

        Thanks John, however I have enough PM’s to last my life time and enough to make sure the next generation will not have to worry about much. I just hate how much control TPTB have and the fact we are subject to that control daily.

      • Dissolution

        Right. I just got some of these, however, in the 10g size:

        “there is still another remarkable security feature: we are painting certain spots of the reverse side additionally with a special and invisible varnish. But if you put it under a UV-light these spots are reflecting in deep blue colour a big LEV-rhombus and the year of mintage. The access to this varnish is restricted strictly because it is used to mark distinctive spots at banknotes as well. All these security features aim to unable counterfeiting the bars.”


    • The Truth

      The game is over and these bastards know it, for control is now lost. When you see a rigged game bringing in known rigged players, look out. Johnathan Spall is known for the Barclays rigging and left in April when they were caught in the rigging of gold. This is done just to make those who have been preparing feel like these a-holes know what they are doing. There is nothing left to be rigged for the rigged games have all been rigged out. None of these shills can stop demand but they know someone has to take the fall. Removing the other banks just makes you wonder, who’s ass they are trying to save? After 3yrs of manipulations it is Game over!

    • NaySayer

      Reuters is owned by Rothschilds. Enough said. Anything that has anything to do with Reuters is automatically suspect at all times.

    • Carl

      Here’s the deal: Worst case (with todays prices), the market will get back up to the manipulated $50 top again. It’s a certainty. It’s happened twice now, and the market loves testing tops. Once that top is broken through, look out! If it’s not, just tested again, everything you stack from this point on will double in price. That’s not too bad of an investment. And meanwhile, should we never see that happen and the world goes downhill fast, that investment turns into protection / insurance. It’s a win-win. Plus I’d honestly rather store up my economic energy / time, in honest money (AG/AU), instead of this fraudulent system we live under. Fight the good fight everyone!

    • STEVEN

      Exactly Willy!!!! All THESE PM experts are running a business to sell you PM’s and make MORE Federal Reserve Notes from you…if Metals are going to the Moon,then why are they selling? It’s nothing but another money making business….

      Store SURVIVAL items,things you can actually use

  • It’s called “removal” from power. By what means…… there’s only one.

  • Joe

    The entire system needs to implode. The CME is a criminal enterprise so is the LMBA…what a disgrace!

  • Jeff

    Didn’t that little creepy slime ball ( Christian ) say a few weeks ago there should be a 1 %. daily cap + or – on metals ? That would be a great move.

  • Jeff

    But, but, but, Bix said the end of the fix would change everything. Is anybody here really surprised by this?

  • Angel

    Once the disconnect between paper and physical occurs, the farce will be over. But first one must acknowledge that there will be a disconnect.

    If your mindset is one in which you think the fixed paper market will rule indefinitely, than things couldn’t appear any more hopeless.

    • Willy

      The only time there will be a true disconnect is when the world runs out of silver. However if the paper trades are allowed to continue and that is where the manipulation occurs than the game can and will go on for a long time. The only time there will be a disconnect is when the the supply of above ground physical silver runs out. But why buy the real thing when you can play the paper market?

      • Angel

        Because with conditions in all sectors continuing to deteriorate in the manner that they, the sensible thing to do will be to flock to hard assets.

        I also don’t believe we’re talking strictly individuals who will be doing the flocking, but governments, as well. Gold may very well be the first choice for many, but they will settle for silver.

  • Rawdogletard

    Does this really surprise you. The people that were hanging their hopes on the London Silver Fix ending are nothing short of unaware ostriches with their heads stuck in the dirt.

  • Ed_B

    There MAY be another way for the current paper farce to implode and that is if a new metals market opens, perhaps in Asia, South Africa, or Brazil that sells ONLY physical metal via competitive bidding with DAILY settlement… no futures, no options, no shorting, and no BS… just buyers and sellers of metals meeting to trade metals for currencies and vice versa. If that were to happen, it would put a tremendous strain on the current paper system, especially if the paper system were to have a failure to deliver event on a futures contract that was held for delivery. Pipe dream? Maybe, but it would really shake up the current paper PM paradigm in a big way.

  • spore

    There you go….out in the open as always. Not hiding anything. The sheeple sleep real good tonight!

  • AgShaman

    Do not worry. The CME has a 2 billion dollar slush fund to ensure all trading clients are protected.

  • Michael

    By my calculation, approx. 70% of 2014 domestic US Production of silver has gone to one solitary silver product, American Silver Eagles. The fix is going to be made irrelevant at some point in the near term. When is that threshold, is it when 100% of domestic silver production is going to Silver Eagles? By my estimation, fall at latest is when we cross that threshold for the first time, assuming Black Swans don’t land first.

  • Hoser

    PM’s are priced in all currencies. FIAT Currencies are in their Death Throes. When the masses dump FIAT for Hard Assets, like PM’s, the fun begins. Those who have PM’s will be rewarded $$$. Those without, won’t get much because it will be cobbled-up within hours by those with millions and the right connections. Remember, Billionaires don’t become Billionaires by Blowing-up markets. They do it quietly and discreetly. PM’s are being accumulated, along with other assets, at depressed prices. Miners have cut way back adding to the supply shortages. Supply and Demand will, as always, overrun this artificial price scheme by those who CURRENTLY have the juice. They will lose that juice soon enough. They always do. Hold tight, accumulate for the future, enjoy these prices and sleep well at night. As soon as the other 95% put the TV remote down and wake the F-Up, you’ll be glad you arrived to the party years ago and got the best seat’s. How can these Bullion Banks dictate prices when they hold no appreciable PM’s inventory??? (Hint: they can’t)

    • STEVEN

      The Masses (the majority brain dead and entertained public) will not dump their FIAT for Metals (FACT-the masses do not see metals as money)…they’ll flock to whatever currency they are told to use whether it’s paper or digital cashless currency

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