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From: Rogue Money [donotreply@wordpress.com]Sent: Sunday, March 08, 2015 8:09 AMTo: business.account1@verizon.netSubject: [New post] GLD, HSBC, SGE and the Wests liquidation of assets

Ken Schortgen posted: "Last weekend, long time metals insider Andrew Maguire dropped a bombshell when he announced that HSBC was closing all seven of their gold vaults and vacating the equity gold markets. The significance of this of course is that HSBC is/was the depository f"

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GLD, HSBC, SGE and the Wests liquidation of assets by Ken Schortgen

Last weekend, long time metals insider Andrew Maguire dropped a bombshell when he announced that HSBC was closing all seven of their gold vaults and vacating the equity gold markets. The significance of this of course is that HSBC is/was the depository for the U.S. based GLD ETF, which by contract is supposed to hold an equal amount of physical gold for every share they sell to investors in the open market.

But the most interesting part of this story is that the moment this breakdown in the Western gold equity and futures market began to occur, the Chinese followed through with their plans to make the Shanghai Gold Exchange the pre-eminent gold bullion market, with price discovery authority coming just around the corner.

Eric King: Andrew, for once we're talking about an update on the metals... what is transpiring here?

Andrew Maguire: You are leading us into something that is so pivotal... so enormous in the way of news on how the way the whole bullion banking system is changing, and I think today is a pivotal day and in 2015 we are not going to be seeing bullion trading the same as it has been.

The Chinese have been planning to launch an official Shanghai gold fix with silver soon to follow, and just today we got confirmation of this by Reuters. Now the timing of the this announcement was surgical. First, the PBOC wanted to establish their presence in the LBMA gold fix, and the fact that the LBMA banks allowed the inclusion of the Chinese banks into the LBMA fixing process is 100% due to the fact that the LBMA is on its back foot, reacting to the fact that Shanghai is already the global hub for physical gold. - Andrew Maguire, King World News

Yet even this news isn't the totality of the coup being orchestrated after the New Year festivities ended for China and most of Asia. Right now, agreements are being made with several of the largest metals miners in the word to contract their products directly to the the SGE and its liquid physical gold market and exchange, and completely bypassing London, the Comex, and all Western markets that have become simply paper facilities trading and protecting derivative contracts.

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Last week the Western paper gold and silver market saw absolute capitulation, surrender, and what will be become outright liquidation as the Comex and LBMA know the end of their ponzi scheme is near. For the last few years there has been speculation that J.P. Morgan Chase has been co-opting the GLD gold to pay off China, Russia, and the other gold accumulating countries so that they wouldn't place a massive delivery call to the Comex which would instantly break the system in the West. And as Dr. Jim Willie has alluded to several times over the past year, the moment that China determines that the Western vaults are empty, that would be the time they would strike and wrest price discovery from the Comex and London Fixers and elevate the price to the real fair market value for physical metals.

And it appears that day is arriving now.

The West is completely bankrupt, and despite the false surface numbers of low unemployment and record high equity markets the sad reality is that the elite are in the process of mass liquidation and preparation of a collapse of the paper based scheme that they have used to control global finances over the past 40+ years. And it is why the U.S. is dedicating so much time and effort towards stirring up conflicts and wars because it will provide them a pseudo amount of cover and an excuse to blame war as the reason that the economy and financial system failed.

Insiders continue to sell stocks at record numbers:

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Quantitative Easing, low interest rates, and corporate borrowing has all been done to accomplish one thing... to jack up equity prices so that insiders can sell high before the entire paper system collapses. Going back to 2011, and accelerating through 2014 and into the early part of this year, insiders have been liquidating their stock at all-time record numbers and moving their cash into tangible assets like New York real estate, art, and even physical metals. What they have not been doing is re-investing that money back into companies, jobs, or the markets as the incredible increase to the money supply by the Fed has deteriorated the dollar to the point where no one wants to own it, and overpaying for physical assets is better than being stuck with worthless cash when the dollar completely crashes.

The rise of the dollar today as opposed to prior decades is not a case of a strong currency, but a prelude to a death event as the rest of the world no longer is investing in dollar based assets in a flight for safety, but instead are dumping them en masse where the Fed has been forced to mop them up and keep them out of the system and rest of the general economy. This has allowed the dollar to rise at the same time that all other countries are implementing their own rate cut and QE programs, that are designed to protect their own economies during the onslaught of the global currency war and end of the dollar system.

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While the East continues to cultivate golden gooses to be used to help facilitate their rise in capturing the once former dominions of London and New York, these two dying juggernauts are killing their gooses in an attempt to squeeze out every last drop before the inevitable collapse occurs. And since the U.S. and even most of Europe has little left to offer the world besides unwanted dollars, unfunded paper, and false propaganda, conflict and war will be the sideshow of the dying empire to cover up their final thefts as the elite liquidate at the top, and ensure a death event for everyone else.

Ken Schortgen | March 8, 2015 at 11:06 am | Tags: china, dollar, elites, gld, gold, hsbc, liquidate, price discovery, sge, stock | Categories: Featured | URL: http://wp.me/p3Y1rx-1Ds

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