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Message: The Elephant in the Room Just Stepped on Another Gold Rigger
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FYI Insightful comments from a well respected analyst.

Jacki

From: "Bix Weir" <bix@roadtoroota.com>
Date: Tue, 20 May 2014 13:55:
The Elephant in the Room Just Stepped on Another Gold Rigger

Another one bites the dust...

Barclays Head of Spot Gold Trading Leaves Bank

If those contracts die because they were poorly constructed legally...then the whole system dies.

And they were all contingent upon the "London Fix". That is/was the ONLY physical gold and silver proxy price around the world and that is what is defined in almost every gold and silver derivative contract written...including integrated into the massively complex and complicated monetary swap agreements. (And no they can't use the COMEX prices because those are point in time futures and options contracts...NOT a physical proxy.)

The death of the London Fix is leaving a gaping hole in the legal structure of gold and silver derivatives. So far, there have been no alternatives put forth....and even if there were what Counter Party in their right mind that is on the losing side of the derivative agreement would want to legally change the terms of their contract?
The situation is totally FUBAR and the criminals involved in the gold and silver rigging know it. That's why they are running for the hills!
May the Road you choose be the Right Road.
Bix Weir
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