Morning Don't.

In Keisler's interview of Jim Willie, Jim talked about the problems at LBMA and concluded that the price of gold ( and silver ) would have to go down as they cleaned up their problems.

The are the supreme crooks. The LBMA, in Jim's words, has "gone dark". It is much easier to manipulate when there is absolutely no way to check the activity of the crooks. Even though they don't have gold or silver to short, they can still violate their "market maker" requirements and manipulate the price. These final acts may destroy the LBMA and possibly the crimex.

It makes one pay attention to the daily action as these scenarios play out. As I interpret the current happenings, the manipulation will not end gracefully. I suspect an "event" that will change nearly all facits of the PM markets. There may be no more PM options at all. PM paper may not exist as the 100:1 leverage is found to be impossible to resolve and many metal "owners ae left with a pile of racid fiat that will decay faster than it can be converted to anything of value.

After the paper owners recognize they have been ripped off, actual metal will be hoarded until a real market price can be determined. That is when we will see either a 5 digit figure for gold or government intervention in the metals markets. Does anyone think that there will not be a black market for the metals that is the actuall determination of the fiat/metal exchange rate?

Then everyone will finally understand that the value of an ounce of gold or silver is an ounce of gold ro silver. It will be at that point that the metal miners with resources, and who can get metal to market, will explode.