The End of Paper Gold and Silver Markets lewrockwell.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lewrockwell.com Daily Mail and Mail on Sunday newspapers.
Basel 3 is on course to regulate the LBMA out of existence. And with it will go all the associated arbitrage business and position-taking on Comex,
because most bullion bank trading desks will cease to exist. The only supply to buy-side speculators of gold and silver contracts will be producer hedging.
In recent months there has been some limited commentary concerning the introduction of Basel 3 regulations and the implications for precious metals trading.
These new regulations are scheduled to be introduced for European banks at the end of June only seven weeks’ time and in the UK from 1 January next, affecting all LBMA member banks.
Eric Sprott Cautions Investors To Fear The Financial System (GLD, SLV, PHYS, IAU, PSLV)
JT Long: The dire economic situation that persists globally despite the best efforts of central planners to make things seem normal leads Sprott Inc.’s legendary Chairman Eric Sprott to broadcast a loud message of caution: “Fear the financial system.” In this exclusive interview with
The Gold Report, Sprott says it’s time for people to take matters into their own hands and that means pushing further and further into precious metals equities as well as physical gold and silver. With 80% of his own portfolio in that arena, he certainly puts his money where his mouth is.
Wall Street’s Changing Culture
When Genius Failed is likely to be a classical primary authority.
Lowenstein is a deeply professional writer, who reduces the arcane complexities of derivative dealings to lucid prose, and focuses on the crucial components in a confusing complex story. He brings the icy precision of the battlefield surgeon to the deafening chaos of Wall Street conflict. His chilling assessments of such phenomena as the appalling Larry Hilibrand, perhaps the key force at LTCM, a strangely-diminished Alan Greenspan, and the sinister force of Goldman Sachs, are likely to prove definitive.
As a member of the Frank Veneroso/Le Métropole Café circle, and consequently feeling in possession of some first-hand knowledge of the LTCM smash, I found this book stimulating and informative. So also would others with professional involvement. This is not a book to be ignored.