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This is a reminder of the Tabernacles conference that we will be hosting from October 18-20 at the DoubleTree hotel on Park Place Blvd. in Minneapolis! We have held conferences there in past years. The cost for a room is $129 per night, plus appropriate taxes. Considering the inflation rate these days, this is a good price.
Keep in mind that there are two DoubleTree hotels in Minneapolis. We will be meeting at the one on Park Place just off Hwy 394 that heads west out of the downtown area.
As usual, our plan is to livestream most of the sessions. The exception is James Bruggeman, who does not want to do things live but prefers to edit the videos before making them available on his website.
Click the button below to view full details about this conference:
Last Thursday the “London fix” for silver failed to move the spot price down to the level desired by the price fixers (manipulators). I don’t think this has ever happened before, and it shows that the fixed paper prices for silver are no longer being followed by the markets themselves.
The price of silver was “fixed” at $13.58 at a time when the spot price was at $14.42/oz. The result was that the spot price went down only part way. If I recall, I don’t think it went down below $14.00. At any rate, the difference between the “fix” and the spot price was about 6%.
In other words, the markets did not believe the price fixers. No one wanted to sell anywhere near the “fixed” price. This could mark the beginning of the end of the price-fixing scheme, allowing metals to rise to their true value. Conversely, this could be the beginning of the end of the high price of currencies. When it takes more currency to buy the same amount of silver/gold, it is not really the price of silver or gold that is rising, but rather that the value of currency is falling. So it takes more currency to buy the same amount of metal—or anything else, for that matter.
As Bulliondesk.com's Ian Walker reports, the silver market was thrown into disarray on Thursday after the LBMA Silver Price was set 84 cents below the spot and futures price this morning….
The price is set every day by six participants – HSBC, JPMorgan Chase Bank, Mitsui & Co Precious Metals, The Bank of Nova Scotia, Toronto Dominion Bank and UBS – using a system run by CME and Thomson Reuters.
The “disarray” set in, because the contracts for silver sales are settled according to the spot price or the “fixed” price. When there is a 6% difference between the two, the buyers want the low price, while the sellers want to sell at the higher price. I’m not sure what the contracts actually read, since I have never bought a futures contract in my life, but those who know of such things are talking about the silver markets being in disarray.
As an outside observer, it seems to me that this event is quite significant to the metals market and the currency markets as well. It may not mean much to the average person, but to those involved in futures contracts, it is a big deal. When a dam shows a small crack, it is a serious matter.