The LBMA has managed to implant itself as a referee in the physical gold and silver markets, yet they work against them with full force.
LBMA feeds the illusion of being both teammate and referee, while in reality playing for central banks, governments, and bullion banks protecting the fractionally reserved fiat monetary system and the fractionally reserved bullion banking system.
LBMA sits at the heart of the enormous paper gold and silver fraud. Naturally, they resist increasing transparency because it would expose their integral role in this misrepresentation.
Many gold vaults contain little to nothing. These vaults safeguard the secret of no gold rather than actual gold itself.
To understand the gold price, we must first understand what dictates it.
Discussions have revolved for many years revolved around gold price manipulation. Sure, gold price manipulation exists, as evidenced by JP Morgan traders being criminally convicted in court and many banks being fined.
However, the elephant in the room is the market mechanics. The LBMA claims to represent the gold industry, but they are the ones protecting market mechanisms that allow inconceivable quantities of synthetic paper gold and silver—hundreds of times greater than the real physical metal.
LBMA also attempts to suppress valid criticism and calls to reform by dictating which speech and actions are permissible.
We urge all miners, wholesalers, refiners, and dealers in the physical precious metals industry to abandon the LBMA and genuinely commit to transparency and trust in the gold market.