Don't work yourself up over the LBMA, they are just one part of the machinery. Ironically, the LBMA was founded to prevent price manipulation, when the producers of physical gold and silver (mining companies ect) started rioting over artificially supressed prices.
So the banks suggested a "self regulatory" institution - as they always do, before real laws are released that would hinder their fraudulent business. Of course they made sure that the majority of the board member in the LBMA are their own puppets, and the producers side is the minority.
All they do basically, is to cement the prices to about the level that wall street dictates anyway. Twice a day for gold, and once for silver. I never pay much attention to them.
You are viewing a single comment's thread from: