The Phaserl


Oh Goodie! The New Silver Rigging Mechanism Will Be Explained a Week After it Goes Into Action!

by Bix Weir, Road To Roota:

Let the Rigging of Silver Continue!!!

Our new hosts of the LBMA-Sponsored “London Silver Price” (aka…NOT the old “Silver Fix”) plan to explain to the world just how their new rigging mechanism will work on August 19th: New London Silver Price Heralds a New Era in Precious Metal Benchmarks

The silver market is set for a historic makeover as Thomson Reuters and the CME Group are set to operate the new London Silver Price from 15 August, as the current 117-year old process comes to an end … The new method offers an auction-based, auditable electronic system that will match buying and selling orders to reach a benchmark for the price of silver. All of the auctions can be viewed live on Thomson Reuters flagship desktop, Eikon.”

WEBINAR DETAILS: Time (Session 2): 4:30-5:30 PM London (11:30-12:30 AM New York) END

Ok, let me get this straight. They are implementing a brand new electronic system that is “auction based” and will match buyers of physical silver with sellers of physical silver (CME’s Responsibility…aka the CRIMEX!!!) and that system will be available to the public and auditable (Reuter’s Responsibility…like they did for the LIBOR Fix!!).

Hmmm. Wonder if the new “London Silver Fix” will transfer over 100 BILLION ounces of physical silver per year like the LBMA claimed on the old “Silver Fix”?!

Wow! So in this auditable and transparent new system everybody will be able to see the Silver Riggers like JPM and HSBC sell 400M ounces of physical silver, load them into trucks and deliver them to the buyers…EVERYDAY??!!

REALLY?! Want some perspective here??

How about imagining 25,000 Chevy 1/2 Ton Pickups filled to max capacity with 1,000 oz silver bars driving from a warehouse in downtown London to a dock at the Port of London to load on a Handymax Bulk Commodity Ship for that long trek to China…


And they think London traffic is bad now 🙂 BAHAHA!!

I can’t wait for this “webinar” as it’s being run by a couple of “doozies”…

Bernd Sischka: an ex-Lehman derivatives trader
Andrew Leyland: a “30 something” GFMS analyst

Let’s face it. The new silver fix is going to be exactly like the old fix. Just Banksters throwing up Rigged Numbers for the world to digest.

May the Road you choose be the Right Road.

Bix Weir

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26 comments to Oh Goodie! The New Silver Rigging Mechanism Will Be Explained a Week After it Goes Into Action!

  • One more thought…don’t expect the price of silver to get crazy until September when the “”Silver Fix” related derivatives contracts come into question.

    Then buckle up. 🙂


    • STEVEN

      whatever you say Bix! (rolls eyes)

    • Dan

      You have been saying the same thing for at least the 4 years I have known who you are. A broken clock will eventually be right.

      I do admire your business model though… have people pay you to be make one wrong “prediction” after another. What a way to make money!

    • Beligerant

      The manipulation will continue until a force majeure or extreme shortages are announced. This will happen on one of the overseas markets and not the crimex because they will always force settle in paper or will just pull another “You’ve Been Corzined” event.

      I believe this is one of the reasons we have seen a lot of physical only exchanges starting up in 2013 and 2014. One can speculate all they want but China and similar countries have purchased a lot of gold and they will exact their price. The only question is when does this happen?

  • Jhon

    The new system is just to get rid of all their short positions that are in danger on the cheap.
    Once handles, they can restart the con like it’s 2006

  • johns

    “Meet the NEW boss, same as the OLD boss”

    It will end, when it ends.

    • Ed_B

      That’s right, John… and not a moment before then. It will end when they simply cannot do it anymore.

      • NaySayer

        Absolutely right. and they will do some more horrific stuff before they are willing to admit defeat enough for it to end, like war and confiscation of preps and metals.

        • Ed_B

          They try crap like that and they are gonna have all kinds of metals coming their way… mostly lead and copper. Those of us who prep have spent lots of time, money, and effort on building our stacks. To let some clueless bozos waltz in and just cart them away when it is convenient for them to do so isn’t happening. The lives of my family depend on this stuff and it is NOT community property. Anyone can prepare for disaster but so few do. Then, when the SHTF, they try to use government to force others to “share”. These people want it BOTH ways… no prepping before it’s needed and then stealing what others have once they finally awaken to the fact that prepping is necessary. Well, STUFF them! And not with MY goodies, either! lol

  • Mike

    Yeah, I have heard the same song for so many years, the bottom line is this, don’t buy for the dollar, buy for the value.

  • Angel

    Jeez, the famous Bix Weir is the first to comment and only a couple of people challenge him?

    Where’s all the usual crybaby’s (trolls?) who piss and moan about how much money they lost over the years by listening to the “silver gurus”. Now’s their chance to let it rip, yet not a word from them.

    No, they’ll wait until another Jim Willie interview is posted before they blow more hot air. Typical.

    Well, I’m plenty stocked up on tissues to lend out when they decide to throw another tantrum.

    • J

      Having a bad day, are we?

    • Eric

      You only lost if you sold Angel, or if you got greedy.

      Bix has still released a lot of good information. I have learned from him and isn’t knowledge the best form of wealth?

      They’re not going to allow a new class of millionaires to rise up all of a sudden because people don’t know how to handle money when they come into it suddenly. Thus, why there hasn’t been a reset. I still prefer silver and gold for my savings over iraqi dinar or vietnamese dong. Many bought those thinking they were going to be instant millionaires.

      Tissues are good to have. The vast majority of people aren’t ready for this and are going to get a hard slap in the face full of reality.

      • Angel

        You said it, Eric, on all points. I didn’t sell. Quite the contrary, so no worries from this corner. Just thankfulness.

        I wasn’t necessarily criticizing Bix, I was speaking for that regular cast of characters who place blame on the “gurus” because the “market” didn’t perform as the “gurus” predicted it would. Well, speak to the “guru” himself, then!

        First of all, they should have thought this through. All they saw were dollar signs and a quick fiat turn-around when they heard the “metals to the moon” predictions. If they were in this for the right reasons to begin with, they wouldn’t be kicking themselves in the ass right now. Actually, if they haven’t sold, they shouldn’t be kicking themselves in the ass at all, but should be grateful for the continued gift of cheap metal.

        With that said, there’s still some “gurus” making very specific price predictions which they say will occur during a very specific time period. I take all of this with a grain of salt, if I even pay attention at all.

        Think for yourself, practice due diligence, and develop the skill of patience. All of these things will become even more indispensable as we enter the turbulent days ahead.

    • Ed_B

      There is no need to challenge Bix. He already has more challenges than most of us. lol

      I find him wildly entertaining but would not bet money on any of his predictions.

      Yes, stacking PMs IS a good idea. But so many people do it the wrong way and for the wrong reasons. A nice stack should be built over time as one can afford to do so. NEVER borrow money to buy PMs. Never buy PMs with money that you will need for other things in the next 4-5 years. Buy regularly and in affordable amounts. Buy a little more when prices dip. When prices rise, save your fiat for use when the prices pull back. This will result in more ozs. at a lower cost. Never go “all in”. Doing that means that you think you know what the future holds. We don’t, no one does, and no one ever will. Diversification and dollar cost averaging are two of the small investor’s best friends. Use them to build your wealth over time.

      Some people dive into PMs, thinking that they will “make a killing” and get rich off of them. That could happen but the odds do not favor it. When it doesn’t, they get disillusioned, then angry, and then post all manner of harsh statements about PMs and those terrible people who talked them into buying PMs. This is the, “I bear no responsibility for my own actions” approach to PM ownership, which is heavily based on denial.

      What PMs really do for us is preserve our wealth for the long term no matter what happens to the current fiat paper Ponzi currency scheme. The current monetary system is unstable and unsustainable. Something really drastic is likely to happen to it at some point. No one knows when that will be, so to PM stackers, it is better to be years early than days late.

      Remember that while PMs are important, so are many other preps. Don’t neglect them. Food, water, water purification, fuel, meds, tools, arms / ammo, seeds, things that make heat and light, etc. will need some attention too.

      Oh, and have a terrific day! 🙂

      • Angel

        Absolutely, Ed. A family member and spouse were of the mindset a few years ago that silver was “going to the moon!” and went all-in. Well, they sold their respectable stack when they saw it was “losing value” (seriously!) in order to put their daughter through school. I maintain to this day that they made a very big mistake, but I will no longer discuss any of this with them.

        Thankfully, two other family members (spouses and children) also entered into PMs, but for the CORRECT reasons. All is well, the stacks remain.

  • Troy

    Being I sold most of my silver in 2011 and 2012…I’m hoping silver goes down even more…because I would like to start buying again….but even at $20, it still a good buy! All my silver profits will go into land in the country. Like I always say…if your living in a town or city, get in the country! DO IT!

    • Eric

      Bravo Troy! You did it right. Invest in America. Not in the stock market.

    • NaySayer

      Troy, for your sake I hope it doesn’t crash soon. Based upon your post, you have neither any real money (silver) or any land in the country. What is your plan? Beg to be let in a fema camp so they will feed you?

      • Troy

        I actually own two homes in the country…right beside each other, land, chickens, massive amounts of prep food, ammo, guns, vehicles, propane, gas, tools, seeds, gardens, lots of supplies…and I have around 400 ounces of silver…AND the most important thing of all, I live in an area of like minded people with the same stuff as me, and lots of animals, two rivers, and wildlife….I’m good.

      • Troy

        My previous post, I meant my silver profits in the future will go into land…more land.

        • Ed_B

          Having read MANY of your posts, Troy, I know that you are way ahead of the prepper curve in this. The vast majority of us prep and stack but are not nearly as well set as you are. This is terrific, IMO, and I am happy for you. The best part is that you are surrounded by like-minded people. They will be a HUGE asset when the SHTF. Blessings to you and to them for the great job you’ve done. I am inspired by reading your posts and try to ramp up my own preps. 🙂

          • Eric

            Yeah Troy got it right. Everyone has their own situation. Like minded people around you is one of the most important things of all. But you can always work on you neighbors from a logical point of view. I make progress with mine every day.

          • Troy

            I’m not much of a hunter, but am in a area where there are die hard hunters…and those boys can hunt. Lots of bow hunters….scary accurate! I’m in a area where there is lots of wild turkey and deer…and being in Minnesota, we have some of the best soil for growing food. I actually can’t eat all the food I grow…my chickens, friends and family get what I don’t need. A country boy can survive.

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