• Same story, different day...........year ie more of the same fiat floods the world
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No more LBMA silver price.

anywoundedduck

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#1
CME Group and Thompson Rueters announced after Market close that they would no longer provide LBMA silver pricing.
Does this mean nobody is fixing the price?
Rumors that London is out of physical silver.
Could this be it?
Could the market determine the price?
I sure would not want to be short silver at the moment
 
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southfork

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#4
less than three years after they successfully bid to provide the process. So they paid to be able to rig the price ,,,,,,,,,,,,,,,,,,
 

anywoundedduck

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#5
Mods
OK with me if you combine the two threads.
 

tom baxter

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#6
I can't imagine the market itself fixing the price, not with a 100 ounces of paper silver contracts for every physical ounce. I don't know much about the paper markets but I know they rule.
 

anywoundedduck

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#7
I can't imagine the market itself fixing the price, not with a 100 ounces of paper silver contracts for every physical ounce. I don't know much about the paper markets but I know they rule.
They rule until the World Market for buying physical silver in London runs out of physical, then you can begin wiping your ass with those paper silver contracts.
If you read the story, it appears that there might be another physical market by Autumn, or maybe not. London has basically no handle on the price.
CRIMEX Silver market will also have to close.
 
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Ragnarok

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#8
If silver is released to find it's true market price, so must gold.

R.
 

tom baxter

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#9
These systems of control are well established and far up the food chain. Short of every miner arranging through their refiner to sell direct to a customer I can't see them disappearing. There will always end-users who want to buy contracts a year or six months in advance to stabilize their business. Silver especially is used by a myriad of manufacturers across the globe from dinning wear to jewelers to solar panel mobs to electric light switch manufacturers. Switching the market mechanism for pricing would be a nightmare. Companies that run on debt need to project. They need a solid price for the near future.
 

OverOver

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#10
From the link it pretty much says nothing has really changed. CME and Reuters are going
to continue to do what they've been doing until a new provider is appointed. LBMA is putting
out a new tender to find someone to take their place...new provider in the summer...new platform
in the autumn.

The only thing we really have here is a wait and see to see WTF