Vanilla ICE - the Icing on the CON/fectionary Cake of one of BIG GOLD'S biggest fibbers! Updated!
March 20 2015 - The day that 'changed the world forever'... well kinda...maybe .... NOT!
by Bel Suave
Readers with particularly good memories will recall that some time ago - this month - it was announces with great fanfare by one of the BIG GUNS of BIG GOLD' Scribe Tribe that today would be a 'landmark day' for the world o gold. As I had no reason to believe this prophecy to be any more than the usual hyper-ventilation on the part of the man they call "Alasdair"... I called BULLSHIT... and marked the day on my calendar as one that would see a partial eclipse of the sun... and possibly a full eclipse of said scribe's career!
Vanilla Ice Burglary Arrest -- I Lied To Cops, But ... I Thought I Was Just Trash Picking
I Lied To Cops, But ... Vanilla Ice spun a big fat lie -- to cops and his workers -- when he got busted for stealing a bunch of items from a Florida home. According to the arrest report ...
Some folks are fibbin for a livin... and other's jus fib to stay outta the can.... if they can! Can you spot the difference between the two? It's gettin pretty hard to know who's just hustlin... and who's really rustlin! Let's -gingerly - "pick our way thru the trash"... shall we?
The new London gold fix and China
By Alasdair Macleod Posted 06 March 2015
This month the physical gold market will undergo radical change when the four London fixing banks hand over the twice-daily fix to the International Commodity Exchange's trading platform on 20th March.
"the London market is changing from an unregulated to a partially regulated market, reducing room for price manipulation. And secondly, the major Chinese state-owned banks, assuming they register as direct participants, have the opportunity to dominate the London physical market without having to deal through one of the current fixing banks. No announcement has been made yet as to who the direct participants will be, but it is a racing certainty China will be represented."
The new platform should, therefore, ensure equal opportunity, eliminating the advantage enjoyed by the fixing banks. Crucially, it will change market domination from the privileged fixing members in favour of the deepest pockets. These are almost certain to be China's through the state-owned banks which already control the largest physical market in Asia, the Shanghai Gold Exchange (SGE).
So, in summary, this man... an insider to the world of gold so opaque to the rest of us... gave us, early on in March, a peek into the future. A future which would be "radically" different that what had come before... due to changes which would occur as of March 20 2015. The price of gold... no longer dominated by big western banks, would as of that date be determined by Chinese bankers!
Phew... lot's of the usual "shoulds" 'coulds' and 'woulds'... but still no forest in all those trees! "Racing certainty?" How bout 'RAGING MADNESS?"
Alasdair closes up his piece by stating "China now has the opportunity to take a dominant role in London, without having to direct its order flows through the fixing banks. Therefore, it is no exaggeration to say that from 20th March, China will be able to control the global physical gold market, which will permit her to manage the price. She has the deepest pockets, backed by the largest single stockpile."
uMM.... I don't want to 'exaggerate' the extent of our man's mistaken prognosis... but it's gotta be damn tough to get it more WRONG THAN ALASDAIR JUST DID!
GOLDMAN AND UBS in.... CHINESE BANKS... not so much.
No Chinese banks in new London Gold Fixing system - yet - Mineweb
Despite the three banks expressing interest in being involved. Lawrence Williams | 20 March 2015 12:24 The new benchmarking process for gold in London begins today, but without any direct Chinese involvement as yet.
The new benchmarking process for gold in London has begun today, but without any direct Chinese involvement as yet. The new London Gold Fix – or LBMA Gold Price – as it is now called is beginning with only a small change from the participants in the old system – Barclays, HSBC, SocGen and Bank of Nova Scotia, will now be joined by UBS and Goldman Sachs to make up the number to six.
According to the LBMA there is as yet going to be no direct participation by any of the three Chinese banks which have expressed interest in joining and would appear to qualify for inclusion under the strict guidelines for doing so. The first new LBMA Gold Price benchmark price under the new system came in at $1171.75 at 10.30 am GMT this morning.
Many observers had felt that the inclusion of one or more of the Chinese banks – ICBC, Bank of China and China Construction Bank – would be inevitable from the start of the new process, but as we pointed out here a few days ago (See: Fixing the Gold Fix – with or without the Chinese banks?) their inclusion at the start was certainly not inevitable – even though China is comfortably the world’s largest consumer of gold whatever the World Gold Council and GFMS may say in qualifying what they present as Chinese consumption figures. China is also comfortably the world’s largest producer of the yellow metal and it seems extremely strange, and can only contribute to the thinking of those who believe the gold price is being suppressed by the establishment of major central banks and the bullion banks. Whether this is, in reality, the case or not will obviously be a continuing debate, but it does seem to be odd that given the huge undisputed flows of physical gold from West to East that the gold price has performed so badly over the past few years.
At this stage in the day we await further clarification from the LBMA, which owns the intellectual property of the London benchmarking system and ICE Benchmark Administration, which is running the new process, as to how the LBMA Gold Price will likely develop in terms of additional representatives. In theory participation is open to other gold sector stakeholders like producers and consumers, but the qualification rules would actually seem to exclude almost any entity outside the LBMA membership criteria which considerably reduces the potential.
For the new London gold benchmarking system to have any real validity in the eyes of many of those out there who rely on the twice daily announced gold price ‘fixes’ the sooner more participants, including most importantly the Chinese, are seen as direct participants in the process the better. Otherwise it will be seen as ‘same old same old’ and will inevitably lead to the eventual setting up of a rival gold ‘fixing’ process in the main gold consuming part of the world in Asia.
Indeed the eventual disclosure that the new additional Direct participants in the LBMA Gold Price are Goldman Sachs and UBS will add fuel to the flames of those who believe that the bid bullion banks will continue to control the gold price. Maybe that was why the LBMA and IBA would not announce who the participants were right up to the time the first pricing was announced.
Ok... I think you get the general idea. Not only have the expected white knights from the East failed to show... but the 'bad guy' bankstas from the West have simply added to their ranks... some of the most wanted rustlers to ever ride a one-trick pony! So here's the BIG QUESTION!... Was Al just fibbin to make a livin... or is he... like our rapper pal... just shy of a couple o scoops and some toppings?
I'm up in the air about what to rename "Al Macleod" at the moment...but I think it's gonna come to either "Al One Trick Mc Cloud"... or "Al ice the Goon"... OR maybe just ... "Vanilla Ice" - I had thought about "Pinnochio"... but I have to reserve that one for another of BIG GOLD'S BIG FIBSTERS!///when we come back with the rest of this story today... you will see what the ice part is all about!
ICE Benchmark Administration.... this is the major part of the story... which BIG GOLD'S complicit media whores have missed... or covered up... on purpose! We'll start the BIG THAW... of that embargo on real news - soon! - STAYED TUNED!
Pimp this ride Al!
Maxwell - Sumthin' Sumthin'
Alright then... where were we? It was all about ICE right? Hey - I really want to get this story done today... but have to really remember the limits of endurance now imposed upon my readership back there in Gulagistan. Which we have probably already exceeded with the present piece!
So what says we do a "part two?" Done deal! I'm gonna switch channels here.. and work on the rest of our ICE story this afternoon... I'll update the url here when done. In the meanwhile... for those hangin on the edges of their limbs... here's another jewel from the interminable treasure chest of the blue-tinted MIKE NOMAD crew of neo-journalism... just finished up!
Puppet Banks Puppet Press Puppet Governments
Reserve Bank of India shows us once again - just how prone they are all - to blowin in the wind of BIG GOLD'S bluster n bombast!
And.... as promised... Part Two. Without further ado - ladies and gentlemen.... https://storify.com/SuaveBel/big-gold-s-chicago-boys-meet-the-continental-crime#publicize
Part Two was hacked... and the second half of it... with the goods on IBA(ICE)all deleted... sometime on Sunday. Stay Tuned as the Blue Crew comes back from that hit ... with the rest of the story!
BIG GOLD'S BIG REACH - A MEXICAN STANDOFF - or SIGN THAT THE CRIME CASTLE IS COLLAPSING ... AT LAST?
The Blue Crew's Big Scoop - on "BIG GOLD'S "LONDON FIX"gets hacked and deleted... Metals Media Mafiya finally get's one the scoreboard! We start over.