something does not add up, page-30

Lets be realisitic, nothing much adds up in the opaque world of international finance (we do not need to know?). They can give the peasants eloquent lectures on transparency, but dear me, the emperors clothes look a bit shabby.

Apart from the fine members of the Gold Fixing Club who tele-conference in at 10.30am (before morning tea) and 3.30pm (before G and T) weekdays, which include HSBC (what happened with the drug cartels that cost $1.9b)..etc..but then Deutches Bank is heading for the door so it can get more time to find the documents that the German Regulators are asking for in relation to gold and silver fixing enquiries (the germans do seem to be a bit sensitive to gold don't they, I mean they want their gold back! they want to see it , touch it or something like this...just not cricket)

The Chairman of the tele-conference suggests an inital price which is based on gold futures (what else?) and spot...and on the the game goes...until the difference is 50 bars, and bingo you got it! Tea is served

It all started just after WW1, (which rumour has it, some of the Bankers won convincingly, in 1919.

Its laughable that such an antiqudiated system could exist todays world of instant communications, 64 bit encryption etc. But it must be working, and the old saying goes if its not broken then it doest need fixing (sorry about the pun) . But wheres the new Gold Buy/Sell App?

The point about the recent Barcalys debacle, is that its not too hard to manipulate the POG. Well thats stating the obvious.

But really want an odd way to determine the POG,or anything for that matter, in 2014. 1919 OK, but really?


Cui Bono?

Oh, and I just read...Credit Suisse fined $2.5 b for helping US tax evaders...

Good luck all