Not surprisingly the Bank of England’s PRA or Prudential Regulatory authority has given the London-based bullion banks an exemption as far as Basel3 rules for unallocated gold is concerned.
Our take is that if one is a believer in sound money the fundamentals for accumulating physical gold and silver do not change and if anything it gives us more time to do so.
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See Full Video Transcript Below
So I was going to talk about something else this morning. But late last night, London time, the news came out that the Bank of England has let the LBMA bullion banks off the hook in reference to Basel III, and trading unallocated gold, which is basically paper, it’s not real gold, they let him off the hook. Am I surprised about that? No, not at all. Because the Bank of England and LBMA are really just one institution. The LBMA is just the Bank of England’s arm for manipulation of the gold market, I actually am very happy to have because if you know what’s happening out there, the fundamentals for precious metals that we’ve had for really the last 50 years. It’s a gift really, from the Bank of England, for those of us who understand what gold and silver really are, and that it’s the best way to keep accumulating or saving your wealth, really. So you can get out of the fear currency scam, that takes away at least 2% of your wealth every year through the inflation tax. So I’m not angry. I’m not surprised. I have been covering Basel III, because a lot of my viewers kept asking me about Basel III, because there is a lot of people out there saying that the gold market is going to change massively, because of Basel III. And it was a possibility. But I’ve always said that don’t make holding gold or accumulating gold and silver decisions backed on this Basel III, do it because it’s the right thing. It not only it’s the right thing to park, your access, wealth creation, and how do you create wealth? Well, it’s through your own efforts, do you want to provide your efforts to these people who run the system. And before I keep going on about this, I think there’s a lot more important things going on right now, aside from markets from money from gold, from LBMA, from Basel III. And to give you an idea, what I think is really important right now, I think you should go to a website that I’m going to show you in a minute here, I’m not going to put a link to it in the description. I don’t want to get censored or deleted by YouTube. So I’m gonna have to resort to showing it to you what the website is in a minute. But when you go to this website, at the top of the page, right now, there’s a video there, it’s about 48 minutes, I’m not going to tell you what it’s about, just go there and watch that video. I think that’s one of the most important 48 minutes that you might spend nowadays, and some of you might have heard of the people in that video, and I had heard of the people on that video before. But I’d never seen them together talking about what they did. So the website is this one. So there you go. You can pause this video. So you can get the name right of the website. I’m not going to tell you the name of the website, but just go there. And yet, it will put a lot of things into perspective, especially what’s happening on the LBMA. And Bank of England. What we need to realize is that in London in the City of London, real golden silver or in the financial system in the UK, real gold and silver that you hold in your hands, physical is not a financial instruments. So it’s not regulated by the FCA. But the bullion banks, the banks and the financial institutions are regulated by an institution called the Prudential regulatory authority, which is basically the Bank of England. So the Bank of England regulates the banks, but the excuse they give for not regulating physical gold and silver is that it’s not a financial asset. And it isn’t because it’s money and the foreign exchange market in London. That’s why The foreign exchange market, the bulk of the trading worldwide is done in London is not regulated either because you’re trading money or currencies against each other. Yes, granted, this unallocated gold and silver that they pertain to trade is not real gold and silver, it’s just a bet on prices. So the LBMA has just proven itself and the Bank of England, that they’re just bucket shops, as far as gold and silver are concerned. Why am I not angry? Well, because for example, I love watches. And the watches I have I bought back in 2003. New and the price now has gone up three times. And I’d love to get another watch similar to mine, the same brand, it is a Rolex Explorer two, as you can see here. And if I could, if they were still just over 2000, or, or maybe a little more, I’d get another one. But even the used ones are over 7000 pounds now to get. So that’s the way I think about physical gold and silver. It’s a gift actually from the Bank of England. To us, it will just give us more time to get the real thing. And it’s not the end of the world for people who believe in sound money, it’s just a little blip. And if you look at the LBMA, Bank of England, and all these bullion banks, the way they’ve been operating, if they were really all powerful against the free market for real gold and silver, we’d still be at a $250 an ounce, which is where the price was 20 years ago. So I wouldn’t be concerned. Yes, maybe some people use paper gold and paper silver to make profits in feared currency. And they bet on this moving the prices higher, and they’ve lost out. But that’s a completely different story. To me, it just gives me more determination to keep telling the public the fraudulent nature of our monetary system, and why, in my opinion, it’s more important than ever to keep accumulating real money, physical, gold and silver. One day, the Bank of England, the LBMA will be exposed for their lies really because they rubbed it in people’s face. I saw yesterday the announcement by the CEO of the LBMA on Twitter, Ruth Crowell, her name or CRO you can pronounce it either way, I think. And if you look at the LBMA, the chairman of the LBMA was an X Bank of England man, Dr. Paul Fisher. You look at their board. They’ve got someone called Isabel Strauss Kahn, you might remember that named Strauss Kahn. Well, her brother Dominique Strauss Kahn, was the head of the IMF had to resign because of a scandal. Yeah, and he got Paul Fisher. So these people are all working together the Bank of England. And yes, there are some people there that are involved in real gold in the bullion market, like the chairman of PAMP. I’m not sure he realizes what kind of institution he’s getting associated with when he’s part of the LBMA board. Unfortunately, I think the general public doesn’t even care much about what’s going on in the gold and silver market because they don’t realize how important gold and silver are. So they will actually think that the Bank of England and the LBMA are right to make sure that the gold market in London survives gold market right? But we of course know what it really means. But as I said, it will give us an opportunity to keep stacking at a discount which actually is not much of a discount these days. I was talking to someone yesterday from the States. They’re telling me that the premiums for silver for by Phil silver, physical silver, and gold are starting to go up. This person buys gold and silver regularly. And he asked me what are the premiums and In London, and I checked, for example, from some of the major bullion dealers online, and the premium for gold is like five, sometimes 8%. And sometimes they give you a price and they say out of stock. So, yeah, we really have to thank the Bank of England for this decision, I would say. So what does this Bank of England decision mean, for the LBMA, in terms of foreign banks, because the US authorities have toed the line on this Basel III, gold regulation, so have the EU banking authorities. But what happens is that American banks and European banks, they can come to London and trade within the rules of London, LBMA, Bank of England so that that’s why there are so many foreign banks in London, because it’s a real den of vipers, the Bank of England is not a respectable institution, in my opinion. They come across as holier than thou, they’ve got like a huge headquarters in the City of London that looks like a fortress, right? But they’re sitting on a house of cards. Their system is based on Yeah, on a Ponzi scheme of leverage and credit, and gold is at the base of that, and one day, the truth will come out. So I’m not concerned at all. I’m just going to continue to keep doing what I’ve been doing for almost 20 years. Because as Starpath Academy said, gold is timeless. The Bank of England, the LBMA, the bullion banks, they’re not they’re going to get their comeuppance. So if you enjoyed this video, make sure you hit the like button, please share it far and wide. Think about subscribing to my channel, if you haven’t yet. And you can also follow me on Rumble, Twitter, Facebook, and all these other platforms below here. I wish you all a great rest of the weekend. Take care Bye
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