By Guest Post
Lies, Damned Lies, and Forensic History.
As regular consumers of alternative media have likely noticed, China’s voracious appetite for gold has been reported on ad nauseam in the wake of the 2008 Depression. Endless geopolitical and economic analysts have mused about the implications of Chinese gold accumulation, with most concluding (perhaps prematurely) that some form of gold-backed Yuan is on the horizon. Some extend this scenario further, optimistically declaring that the BRICS NDB (New Development Bank) and AIIB (Asian Infrastructure Investment Bank), led by China, will usher in a “New Golden Era” of progress and prosperity, spelling the end of the Western model of Central Banking tyranny.
The reason for this transfer of precious metals from West to East by the Anglo-American Establishment, these pundits prognosticate, is a simple and tragic combination of incompetence and malfeasance. The aged and corrupt West must end, and in the wake of its destruction, the Phoenix of the East must rise.
Does this narrative, however, have any basis in reality when viewed within the context of history? How have institutions traditionally defined as “Globalists” participated in satiating China’s gold fever? Is the hand of the Red Shield, infamously and intimately involved in the metals market for over 200 years, at work, even in the East?
And what, ultimately, do the answers to these questions spell for the “BRICS Saviour” meme?
To begin answering these questions, we must analyze the history of the London Bullion Market Association (LBMA) and the ignominious “Precious Metals Fix” that makes it all possible.
The (Global) Fix Is In
In 2010, the alternative finance community was set ablaze by the revelations of bullion trader turned whistleblower Andrew MacGuire, contending that JPMorgan and HSBC, operating as agents for the Federal Reserve, had suppressed the price of precious metals in an effort to silence the “Canary in the Coal Mine” amidst unprecedented money printing. By using managed selloffs via algorithmic trading bots, bullion banks drove down the price of “electronic/paper” metals certificates at the COMEX, effectively capping their price and ultimately driving them down to new 5-year lows.
The Commodities Futures Trading Commission (CFTC) deemed MacGuire’s claims credible enough to warrant further investigation; led by Bart Chilton, the CFTC’s probe into silver price manipulation ended in September of 2013 with the stunning declaration that no illegal activity had occurred:
“Based upon the law and evidence as they exist at this time, there is not a viable basis to bring an enforcement action with respect to any firm or its employees related to our investigation of silver markets.”
What many fail to realize is that the CFTC’s conclusion is technically correct. JPMorgan and HSBC were not acting in violation of any legal structure; they were, in fact, merely implementing the dictates of the long-standing LBMA Metals Fix:
Blogging under the pseudonym of Rusticus, the author and freedom activist operates a website tracing the machinations of the Anglo-American Establishment throughout history while simultaneously documenting the process of creating a truly off-grid homestead. (www.statelesshomesteading.com)