Global Gold Scheme Is Back Online, Along With The Gold Refineries

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Published : April 05th, 2020
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Category : Gold and Silver

One of the reasons The Daily Coin exist is because of the financial, banking crimes and government corruption. With friends like these….

Over the years some situations just naturally expose themselves as the depths of crimes are simply to big. What has happened over the past few weeks in the gold “market” is exposure on a grand scale. While there are other analyst that shows you charts and point out the fine details we have long believed the crimes are so blatant that all one has to do is add 2+2 and the answer is always, and forever, 4

What we recently reported in article titled – Just Take Our Word…LBMA and CME Claim Vaults Overrunning With Gold

If the CME Group and LBMA are both flush with gold why do they have to keep changing the rules, changing the location of where the gold is held and most importantly why do each of these organizations continually have to remind us they are flush with gold? Why wouldn’t each organization simply conduct their business, fill the orders according to each contract and then report, weekly, what the transactions look like and how they all balance? They can’t, and won’t do this, because they are both running a fraud. Here is the latest cover piece in an attempt to convince the world they lots and lot of gold on hand – gold you can’t see, gold you can’t buy or sell, but trust them, the gold exist.

U.S. exchange operator CME Group Inc (CME.O) and London Bullion Market Association (LBMA) said on Wednesday that gold stocks remain healthy and depositories are operating normally, as the markets work toward easing market volatility.

The latest published numbers show record stocks of 8,326 tonnes of gold in London, which is equivalent to 666,045 standard 400-ounce gold bars, according to the LBMA, which oversees the London trade hub.

Meanwhile, CME said its New York depositories held 9.2 million ounces of gold with 5.6 million ounces eligible as of March 30, nearing a record high in terms of stock levels.

CME Group last week announced the initial listing of enhanced delivery gold futures that will be deliverable in 100-ounce bars, 400-ounce bars, or kilo bars, effective April 6.

The announcement came after LBMA and several major banks that trade gold asked CME to allow gold bars in London to be used to settle its contracts to ease disruption to trading. Source

As soon as there is a mountain of bad press about how the CME Group and LMBA are changing the rules and inventing new schemes on a daily basis they figured they better bring the refineries back online to produce something to cover the crimes being shoved down our throat.

If you not listened to the details of these crimes Ronan Manly, Bullion Star, does an excellent job of painting the undeniable picture – Ronan Manly: LBMA and COMEX Playing Gold Market Musical Chairs (Video)

As the spokesman for the CME Group and LBMA Reuters just released the following

Three of the world’s biggest gold refineries said they will partially reopen after a two week closure that disrupted global supply of the metal.

Valcambi, Argor-Heraeus and PAMP, located near the Swiss border with Italy, were shut by a local government order on March 20 which closed non-essential industry to contain the spread of the coronavirus.

Together they process about 1,500 tonnes of gold a year — equivalent to a third of global supply — and are a key transit point, purifying mined material and reshaping metal moving between markets that require gold in different sizes and shapes.

Fears that it would be impossible to turn enough 400 ounce bars stored in London into 100 ounce bars used in New York drove U.S. gold futures sharply above London prices after the refiners closed.

Valcambi and Argor said on Sunday they had received government approval to partially reopen on April 6. PAMP said on Friday it had permission to restart.

I wonder if any of these refineries will begin making the 100 ounce gold bars the CME Group needs. Currently, the CME Group has zero, since this product doesn’t actually exist and it will be interesting to see how the ACE (Accumulated Certificates of Exchange) contracts work out.

Source : thedailycoin.org
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Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few.
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