GOLD PRICE MANIPULATION: Telegraph’s new enfant terrible spills the beans

The London Daily Telegraph’s new young City whistle-blower Thomas Pascoe has encouraged the longstanding band of gold manipulation spotters by writing this piece today. It is pretty much a vindication of what The Slog’s been saying for six years: that gold sales, auditing, location, price, market size and mining statistics are a load of old bollocks – a feast that moves in mysterious ways to suit the Sovereign agenda of the hour.

This was my most recent post last month.

My my my, how the global worms are wriggling out of the multiply-kicked cans these days. Just to tot them up for those of us in the Squeezed Middle:

1. Capping the gold price

2. Using QE to negate Bear Notes

3. Raising the cost of credit by manipulating Libor up

4. Indirectly lowering the rate on deposits by manipulating Libor down

5. Pauperising every 55+ investor via Zirp

6. Taxing the insured by passing on flood costs to the consumer

7. Artificially supporting the euro by ECB purchases of its own toytown money

8. Gratuitously reducing the maximum use of drawdown pensions for income

9. Doubling the national debt to bail out useless wazzocks without controlling their bonuses.

10. Slashing local services to help balance the Exchequer after those at 9 had finished emptying it.

Altogether, these criminal frauds have slashed my disposable income by 70% since 2005. All we need now is for the derivative gigainflation to kick in, and we’ll all be selling our children’s allure on the streets. After that come Reichstag fires and Nuremburg Laws.

Please: some group somewhere: wake the f**k up and strike a large digit through this web of deceit before Adolf II makes his or her appearance dressed as a likeable sort who just wants to make life beautiful all the time.

UPDATE SPECIAL: GEITHNER WARNED BANK OF ENGLAND RE LIBOR RIGGING IN 2008

See also: The toxic possibilities of derivative value manipulation at 19909

From the archives: The Slog’s track-record on the Gold-capping conspiracy

53 thoughts on “GOLD PRICE MANIPULATION: Telegraph’s new enfant terrible spills the beans

  1. Have to say, Adolf II, a.k.a. T. Bliar, President of the European Union

    Beats me how the degenerate populace are unable to fathom the Iniquitous Depths of Banking Corruption and Malpractices.

    Help me, and it’s not in the water…..

    • @Wringer: “Have to say, Adolf II, a.k.a. T. Bliar, President of the European Union”

      You beat me do it! Anyone who cannot see this coming is wilfully blind.

      A very worrying aspect of this is that not one single European elector will have a vote in his appointment…yet he will be the 2nd most powerful scumbag in the world.

      • @BT: Well, we saw it a while ago. 2nd most powerful scumbag in the world. It’s terrifying isn’t it? Imagine all the sovereigns ceding to Brussels and him in charge, it couldn’t get worse, could it?

      • @kfc: We sure did …months ago. We ought to get a prize for that ;-)

        And before he’s crowned, he’ll secretly promise to his EU Comrades to drag Britain into the EZ whether the British people want it or not. If Labour win the next election the deal will be done, and I expect the biggest betrayal of the British people in my lifetime.

      • He would be were he able to prise the English and French fingers off their nuclear buttons, and replace it with a Sprouted one. That is the danger. I predict it would be his first objective as EU/SSR czar. Without the launch codes the Sprouts are a bunch of losers.

    • And isn’t Berlusconi planning a comeback ? He may be a mega-crook, but it would be lots more fun than Blair, or even Boris.
      Bunga-bungas all round.

      • The long and deep connections of Judaism with communism/socialism/fascism has been exposed many times by many people. It is odd that so many people believe the opposite.

  2. Willie Sutton’s reply when asked why he held up banks was, “Because that’s where the money is”. The savers are the only place to steal from, so get ready for more, because that’s where the money is.

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  4. Pingback: Big Banks Have Criminally Conspired Since 2005 to Rig $800 Trillion Dollar Market - Page 5

    • it was at Greenspan’s urging and for that broon awarded him a knighthood.

      on the bbc, it’s been downhill all the way since the hutton report. to give the beeb its due it was anti iraq war till hutton. after that it became the new liebor propoganda machine. now i watch al jazeera, france 24, and rt. interestingly, more people in new york and washington watch rt than cnn.

    • @Bongo: Indeed, Gavyn Davies is a socialist and has a long relationship with the Labour Party. Which just goes to show that it’s very wrong of the Slogmeister and many others in society to assume that bankers and crooked bankers are automatically Tories.

      • BT: To be fair to JW, he does mainly be pointing out the close ties between the square mile and the Conservative party. Are you suggesting those ties don’t exist? Or, alternatively, are you suggesting that the Labour party has similar ties to big finance based in London? Of course some bankers are Labour. Some are probably also LD. But there is a cultural and historical connection between Tories and bankers. Fact.

      • @supafeckinmingster: What I’m saying is that banksters and their ilk come from all political sides and all walks of life. Many of those in the City nowadays come from Essex and work there instead of running markets stalls in Basildon selling dubious crap to mug punters ;-). Few of these people are Conservatives, at least not proper Conservatives.

        It is a popular myth propagandered by the Left and the MSM Daily Slime (BBC et al) that the City is dominated by Conservatives. JW does peddle this myth.

        It may have been true some decades ago that Conservatives had a closer relationship with the City (the archetypal Stockbroker with a bowler hat etc), but not today. The City is stuffed full of spivs and I suspect traditional Conservatives only dominate the older firms. And we must not forget the deep involvement of Jews in City finance (see virtually every investment bank)…but that’s another story…except to say that IME Jews are overwhelmingly of the Left (check Lord Levi and the now deceased Robert Maxwell and of course Gavyn Davies).

  5. The worse the Economical situation gets, the more the greed kicks in with any dishonest way to maintain the standard of living. The same in Politics.

    Your choice – swallow it whole
    or put up a FIGHT .

    Write letters, object, disobey, tell them they’ve been found out, go hang, jump in the lake, pay late, tell them no way.

    GROW SOME BOLLOCKS
    for God’s sake…..

  6. This is indeed a huge story and full marks to Thomas Pascoe and JW. And just where was this fraudulent manipulation mainly undertaken…the City of London. Heaven help anyone in banking, the city watchdogs or parliament who claim they had no idea this was happening on a daily basis.

  7. JW,’these criminal frauds have slashed my disposable income by 70 percent since 2005′.Know the problem.You have some smart advisors who you mentioned in the past.There are two things to do.If you hold income producing blue chips,grant at the money (or slightly higher)calls on half your holding ,or less.If you also have cash,grant puts at the money( or lower),only in blue chips.This has worked very well for me for 7 years,and is not time consuming(heaven forbid).

  8. “slashed my disposable income by 70%”

    Based on what assumptions? There are many who were in explicit Ponzi schemes who have had 100% loss of income. And much of our financial system is based on Ponzi or similar fraud, if you peel away the veneer. For the early entrants (you) to continue to get expected returns means even more newer mugs have continued to pay into it. So is that what you want?

  9. 9pm on Channel 4 tonight sees the first episode in a two-part documentary called Bank of Dave. It follows Burnley businessman David Fishwick as he attempts to open his own bank to serve the people and businesses of his home town.
    Sounds interesting.

    • @Bongo: Yes, watched it, it was interesting and seems good, I hope it catches on. I think I would rather he looked after my money than the current lot!

  10. But as Mike Maloney points out manipulation of gold and silver is excellent news for investors in physical. I note that gold doesn’t fall below $1550 and silver $26 an ounce because physical buyers in the Far East and Middle East move into physical as the prices are manipulated down by the scum in Wall Street and the Shitty. They must be laughing their heads off as they drain the West of physical.

  11. These f***ers will find no quarter anywhere near me or mine. And as long as places like te slog exist, of which there are far more than you imagine, they will only feel the sand ebbing away beneath them.

    Avoid any and all taxes you can, pay cash, haggle, barter and negotiate everything. Treat your fellow man with respect and your local & national representatives with disdain and a tight leash. That’s a good start.

    • I get the feeling that one day soon(ish) all the sloggers will meet each other in person during a movement of mass resistance against the tyrannical bulls**t that we are seeing take hold now. Wouldn’t that be something?!

      If you need to recognise me, I’ll be the one holding Enda Kenny’s severed head!

      • Chris: “If you need to recognise me, I’ll be the one holding Enda Kenny’s severed head”

        And if you want to recognise me, I’ll be the one wheeling in the wheelbarrow loads of TNT into the basement of the Dail, as it’s in session debating the next budget!

      • @CL If I remember correctly hieronymousb once suggested- if sloggers suddenly find ourselves denied the internet etc etc- meeting up on Westminster bridge…trouble is I cant remember the time…duh

      • The real problem for the good guys is that the bad guys are very well organised while they are disparate, mostly flailing aimlessly in anger. Don’t be fooled in conservatives or labour being responsible, both options are wrong and owned. The only guy out there right now who appears to be nearer than anyone to the right track is Farage and UKIP. Doesn’t mean I agree with everything he says but the fundamental stuff is far closer to the ideal in my view

  12. Is there anyway a case can be brought ,that all this what appears to be fraudulent practices,is linked to the dismal and lowered annuity rates that we who are about to retire wil be obliged to take .That would be one big class action.I would love to see some of these scumbags brought to book.

  13. The Telegraph piece is total garbage, as even a basic knowledge of arithmetic will show. Two tons of gold, which is the size of the alleged short, is 71,680 ounces. Even a $100 move in the gold price, an absurdly large amount, would cost $7.18m. Any significant financial institution would not notice a loss of that size. So the whole argument is absurd and just shows the Telegraph don’t know what they’re doing.

    • Er…I quote from the article in question:
      “Finally, a mea culpa – the tonnage figure quoted in the original article certainly undershot the true extent of the short position held by the US bank in question. It was very difficult to get accurate tonnage figures from anyone I spoke to for the article, and I took a pithy aside relating to a “couple of tonnes” rather too literally in a desire to include some. The true extent would have been far greater as many of you pointed out in the discussion board below the article.”

  14. Pingback: John Ward – Gold Price Manipulation : Telegraph’s New Enfants Terrible Spills The Beans – 12 July 2012 | Lucas 2012 Infos

  15. The Siver market manipulation was exposed last year by a London trader who told the the US Authorities in advance exactly where the silver market was going ….they did nothing about it ….and he was very nearly killed in a hit and run road accident the next day. Google it!

  16. We are sleepwalking into another World War,I.do not make such claims glibly but with rampant greed and corruption within the financial sector going unpunished and being funded by taxpayers and the ordinary man in the street thrown out of work and then subjected to.austerity via squeezed wages snd rising costs.
    The Bank of England.has been artifically supressing interest rates whilst pumping the banks full of funny electronic money, wto it hich allocated for Small.and medium sized business for investment. Instead of passing the funny money on the banks have held onto

    • redknight…i assume you dont expect this war to begin in europe?. the project to divide and demoralise the member nations is at such an advanced stage that we wont have any initiative left here.

  17. The evil farkers within the city if london are either going down hard or have something up their sleeves… i wonder which way the wind will blow…. mmm seems that Russia and china are backing Euro so maybe anglo/americana might be up the creek

  18. Pingback: GOLD PRICE MANIPULATION: Telegraph’s new enfant terrible spills the beans [TheSlog] « Mktgeist blog

  19. Thank you, I have recently been searching for info about this subject for a while and yours is the greatest I’ve found out till now. However, what concerning the conclusion? Are you sure about the supply?|What i don’t understood is in fact how you’re not really a lot more neatly-preferred than you might be right now. You’re very intelligent.

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