Adrian Douglas exposes LBMA OTC Gold Market as a Ponzi scheme

Buy Gold & Silver - http://astore.amazon.com/preciousmetals01-20

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[cestoblique]

Couldn't hear it!

[GoldSilverMedia]

@cestoblique

The audio recording is not the best, so you'll need to adjust your volume on the youtube box above.

[kenshikenji]

HAHHAHAH! That last guy testifying said the bullion banks were selling short to hedge their bullion sales?!! Thats going double short!!! You only use shorts to hedge a LONG position! YOu dont sell something and again short something, thats a double sale, or double short! IDIOT! Go buy some physical silver NOW before its too late!

[uhf21]

You mean the shorts are 100:1 x 2 vs physical?

I'm sort of dreaming here, just want to be sure of what I'm thinking.

[stoneeh]

@407buddy yes money is debt, but it's only debt to those who borrowed it. if you for example get money from your employer you dont have the obligation to pay it back to anyone. that's your company's obligation because they borrowed it from the banks or the banks' obligation because they borrowed it from the fed. it's their obligation to pay it back with interest, which is of course why it can never be paid back, because all in all there is not enough money to pay the interest. buy gold & silver

[stoneeh]

@407buddy yeah that's real good, but why do you give that kind of advice to other people? this isnt going to help them. the best thing they can do is to never take on debt in the first place. and realistically, not paying back their debt is only going to land them in jail. if not, it's abuse of the system because yes, the first ones to suffer might be the banks, but they're going to be bailed out anyway. taxpayers then have to pay for that via inflation. so dont go into debt in the first place

[stoneeh]

@407buddy how about not going into debt in the first place. how about actually attaining wealth by being productive? by being in debt, you only contribute to the fraudulent game of fractional reserve and unbacked currency. you go into debt and you spend it, thereby pushing up either the GDP or various assets, contributing to the false perception that the economy is doing well, when it's really all debt being pumped back into the system. you're a slave of the system, my friend

[93msinclair]

@kenshikenji Check out Adrian's latest artical at the "marketforceanalysis" website. It's called "moron of the year award" and that guy who talked about hedging a short postition with more short positions was the runner-up. Apparently one of the chairmen actually called him out on his statement and he had to admit that he "mispoke" lol.

[2237lemon]

... and if people made a run on banks they would see their money is not actually there and has been partially transferred to the winners of the bet on behalf of the leveraged loser of the bet... regardless if physaical gold is being transferred or being settled in cash, a great deal of wealth is being leveraged off of savers... how do they determine a premium of insurance on hedge against an assett beyond its worth one full time. and especially nonvested parties with no rights to th underlying

[2237lemon]

my neighbor is a bad driver. He wrecks his truck every month. If I buy up 100 insurance policies, then when he crashes i'll be able to cash in on 100 policies for the damge without having vested interest in or physical hold of the vehicle or title to it.. This is essentiaslly the same as whats happening here and the same with selling default swaps on bad mortages to outside non-vested parties. Winnings are generated to the winning half from the losing half of  other peoples borrowed savings.....

[Mr2wings]

Gold or Silver or is Brass and lead better?

[rrdrums1111]

@407buddy you've got it pal!!!! This is the only real strategy we have, but the most effective.