ALERT: Silver Price Rigging Apparatus Failing Miserably!!
After totally failing as a price setting exchange in late January, a large portion of the needed market participants have left the LBMA in order to buy and sell their physical silver using other methods. Many of them are the needed silver miners and the brokers that the riggers play off to source the needed REAL METAL to support their 100B oz annual electronic silver Con Game.
Who could blame them after the debacle that transpired on January 28th...
Silver Market in Disarray After Benchmark Price Fixed Far Below Spot Rate
http://www.bulliondesk.com/silver-news/update-silver-market-disarray-after-benchmark-priced-far-below-spot-rate-108129/
London 28/01/2016 -- The silver market was thrown into disarray on Thursday after the LBMA Silver Price was set 84 cents below the spot and futures price this morning. The LBMA Silver Price -- the crucial daily benchmark used by producers and traders around the world to settle silver products and derivatives contracts -- was set at $13.58 per ounce.
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Given the obvious problem you would have thought that the exchange would have corrected the "false fix" and defaulted to the spot price for all contracts that were affected but that is NOT what happened. The LBMA (which is an association and not an exchange) decided to let the phony price stand and let the winners and losers walk away with their false gains and losses.
And walk away they did as many participants, especially silver mining companies, gave up on the rigged silver exchange all together.
Fast forward to yesterday and we see that the LBMA, the CME and Reuters learned NOTHING from this debacle and given a chance to turn the trading of Physical Silver into a FAIR EXCHANGE they have decided to further contort the Physical Silver Market by adding 3 new convoluted steps to the already overly-twisted method to determine the "Silver Fix"...
CME, Reuters Announce 3 Measure to Fix Broken Silver Fix
http://www.kitco.com/news/2016-03-22/CME-Reuters-Announce-Three-Measures-To-Fix-Broken-Silver-Fix.html
(Kitco News) - More than a month after receiving wide condemnation for posting silver benchmark prices well out of sync with the market, CME Group and Thompson Reuters announced new measures to enhance the London Bullion Market Association Silver Price.
Tuesday, the joint administrators for the LBMA silver benchmark announced, in a press release, three new measures that will be implemented May 16.
The first of the new measures is the introduction of a blind auction. The aggregate bid and offer volumes will no longer be disclosed during the auction round. This information will only be available after the end of each round.
The second measure is a "sharing of the imbalance" in the action. In other words, after the auction is complete, the remaining buy and sell orders will be equally shared among the participants.
Finally, the calculation agent will now be able to increase the imbalance threshold during the auction within an approved range.
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ARE YOU KIDDING ME??
They have gone from the world's most difficult to understand "Silver Fix" mechanism to an even more contorted and convoluted way to "determine" the price of physical silver!
I would be flabbergasted if ANY of the participants that left the LBMA's silver exchange return because of the new rules...
No, I take that back. There will be one or two of the Game Riggers announce that they are "returning" to the market just to follow through with the con and attempt to give the new rules some legitimacy but even that will fail.
The REASON that an open and fair exchange of physical silver is IMPOSSIBLE is that silver is a "Coiled Spring" with massive pent-up, price suppressed energy due to 150 years of silver price suppression that is clearly in it's dying days.
Watch for that energy to be released in the coming days and weeks.
Bix Weir
www.RoadtoRoota.com
NOTE: More on the coming silver price explosion in the latest book:
"The Road Awakens" by Bix Weir
//www.roadtoroota.com/public/centeruBook_IIIuBRThe_Road_Awakenscenter.cfm
