The Phaserl


THE ‘FIX’ IS IN: Is there ANY Physical Silver EXCHANGED in the new Silver Fix???

by Bix Weir, Road To Roota:

Ok, more info is coming out about the NEW silver fixing mechanism. This is from an article in Money Morning… Here’s What the New Silver Price Fix Means for PricesHere’s how the new procedure will operate

The New Silver Pricing Mechanism: At midday (London time), an electronic auction will take place on a trading platform provided by CME Group Inc. Members will begin a bidding process at a price based off quoted rates for silver across the market.

Members will process buy and sell volumes at the initial seed price for 30 seconds. If after that auction buy and sell volumes are in tolerance, that is, if they are within 300,000 ounces of each other, a new price will be set. If not, the auction will restart at a new price determined by an electronic algorithm. Auctions will continue to reset until the buy and sell orders are properly balanced at the prevailing price.

The list of members within the price discovery mechanism has yet to be formally announced, but the application deadline for participants clears today (Thursday). Rhona O’Connell, Head of Metals at Thomson Reuters GFMS, told Money Morning in an email that the initial members are largely from the banking sector, but there are hopes that “that may expand into industry as time goes on.”


What was that??? Does anybody know what the hell they just described??? Where are bidders BUYING physical silver for delivery and where are the sellers DELIVERING that metal???

This isn’t a market pricing mechanism for silver at all…AGAIN!!

How hard is it to set up a market that has legit physical silver buyers wanting to take home metal and legit physical silver sellers wanting to sell and deliver metal???

And don’t you love this line… “Thomson Reuters GFMS, told Money Morning in an email that the initial members are largely from the banking sector, but there are hopes that “that may expand into industry as time goes on.”

Bahaha!!! It’s only Banksters bidding against Banksters again on a phantom electronic market!!!

But it shouldn’t matter to us because we are watching what happens to the silver derivative contracts that are still outstanding and are supposed to settle at the “Silver Fix”…which doesn’t exist anymore.

Hopefully, all the silver bugs out there will yell at the top of their lungs tomorrow morning when they announce the new “London Silver Price”….






May the Road you choose be the Right Road.

Bix Weir

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13 comments to THE ‘FIX’ IS IN: Is there ANY Physical Silver EXCHANGED in the new Silver Fix???

  • WillyT

    Oh nice to see nothing has changed, the new fix starts off with a raid. Nice to see that this new fix is as reputable as the old one. The true price mechanism of the free markets. It’s all fair folks. Move along now. Smile and bend over ya’ll.

  • willy

    Instead of old guys controlling the price it is now totally automated. Watch the price drop to where they like and stay there for many many years. I have always wanted to see 15/oz again and I am sure it will be here by Dec. Funny part is most of the big boys sold off their physical gold holdings in the past couple weeks. I suspect they had a heads up from somewhere and will buy back at lower prices.

    • Ya, well, we could have also gambled by playing that same game, but my guess is that most of us continue to sit on our holdings and sit tight, period. And I’m not about to even consider selling now, either.

      We should simply stick to our buying strategy, which for many of us consists of dollar cost averaging, and not get overly-absorbed in the “I should have” trip. I’m not suggesting that YOU are, but I’m sure some are going to be crying in their beer should this new “transparent” mechanism prove to be even more corrupt than the previous. I can’t imagine it not being so.

      However, I don’t see this game lasting “many, many years”, which is why I’m taking it in stride. It will be there when I need it, and I have no doubt that considering the rate that things are deteriorating, I’m going to need it and then some.

  • johns

    There will NEVER be price discovery as long as two words are present:

    1. Members
    2. Algorithm

    These two words added together equals “rigged”.
    Like others, I’m not selling anything based on this “pricing” scheme, I simply buy more and add to my HOARD.

  • Johan

    Why use this new fix for silver if it’s just going to bring the price down with algorithms which will only hurry along the squeese in the physical market?
    If the silver market is so tight this wont stand for very long.

    Is this only a way out for the big banks?

  • WillyT

    Wouldn’t it be nice if they did drop the price to $15.00 like Johan said. If the market is as small as they say this could all backfire on them. I would spend every dime I have and buy as much as I could. We could actually sit back and have the last laugh. Patience is a virtue and I do have lots of that. The PM stackers have been dragged through more ca ca than I could even begin to say. They do frustrate me to no end some days and I wonder why I started stacking. Then I read the headlines of the day and it just reaffirms why. We are a tough bunch, hold on tight people. This could be one hell of a ride. Cheers folks

    • lastmanstanding

      Willy, here is a theory for you. Without silver and fossil fuel, their wet dreams of singularity, technology, world dominance (nwo) are down the drain.

      Silver is the only metal on earth that connects all the dots of tech, military industrial complex and energy.

      They want you to think it is dogshit and worthless…so they can have the above.

      No way it will be 15 bucks…no fucking way.

  • The Truths

    The real question is why do we need a fix in the first place?. To fix the price of money is like fixing a working car. I think everyone stacking for fiat dollars has their mindset twisted as far as wealth is concerned.

  • F16Hoser

    Who cares? When the times right, make the Dumb Bastards pay out the nose to get Physical!!!! Simple really.

  • Willy Wonka apparently ate too much chocolate today … Really $15 dollars .
    Please remove the spammers from our boards Admin.
    The real truth is it does not matter about the price until the physical price matters.
    Bo Polny has 5 out of 6 right for this year. His record is stellar , even if the price breaks its gonna move in a upward trend just like JNUG did. Look it up your selves. Dont believe me or Willy. Don’t get rattled by the candy men of the world, they are waiting for you get nervous. They are propaganda mimes like the bad egg spouting I wish for $15.00. Laugh.. What a ruse. That’s means a trick… Willy.

  • Really $15.00 dollars. Read Bo Polny .

  • roger

    Reuters adds:

    President Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia’s economy

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