Waiting to be officially denied

Three items to follow up yesterday’s What’s next?:

1. A view from a Singapore gold dealer:

LBMA colludes with the COMEX – To lockdown the global gold market?

“LBMA [London Bullion Market Association] market-makers have a duty and obligation to make a market in gold. So where were these market makers as the spot price seized up, and why would these market makers not be making a market and providing liquidity for gold?

Is it just a management of perceptions exercise with no gold bars involved, to try to coax back the spot and futures prices by telegraphing that the gold that is backing the spot price (which is actually unallocated non-existent gold) is now also backing COMEX gold futures. While neither of the two can be delivered, the same non-gold now backs both, so voila, there is no need for any price divergence!”

2. Concurrently, from the Wall Street Journal, a new form of US currency may or may not be part of the coronavirus bailout package:

Fed Digital Dollars Are Part of Debate Over Coronavirus Stimulus

“While it may not make it to the finished coronavirus economic stimulus and support package now being weighed in Congress, there is a push from some legislators to give the Federal Reserve a new tool some believe could radically reshape how it conducts monetary policy.

At issue are so-called digital dollars and the accounts that would hold them.”

3. Private equity eyes industries crippled by coronavirus: ‘They have been waiting for this’

“‘Vulture investors, especially in private equity, are waiting in the wings to scoop up scores of struggling businesses on the cheap,’ tweeted Rohit Chopra, an FTC commissioner.”


Still no idea about exactly who are the herders. Getting a better picture of who benefits from the herd’s demise.


Charles M. Russell “Driving Buffalo Over the Cliff” 1914

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