You are here

Jeff Nielson: Fraud confirmed -- 100-day delay to take metal delivery

Section: Daily Dispatches

3:35p ET Monday, July 1, 2013

Dear Friend of GATA and Gold:

Jeff Nielson of Bullion Bulls Canada today reflects on the London Metal Exchange's admission that delivery delays for metal now can exceed 100 days:

http://www.bloomberg.com/news/2013-07-01/lme-seeks-to-reduce-lines-at-wa...

Such delays are essentially failures to deliver and defaults, Nielson writes.

"Behind the scenes," Nielson writes, "we know what is taking place, since it's been widely reported since 2008. LME shills quietly contact buyers individually and inform them that if they don’t want to wait more than three months to take delivery of what they already own, there is another option: cash settlement."

Nielson's commentary is headlined "Fraud Confirmed: 100-Day Delay To Take Bullion Delivery In London" and it's posted at Bullion Bulls Canada's Internet site here:

http://www.bullionbullscanada.com/gold-commentary/26273-fraud-confirmed-...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



ADVERTISEMENT

Fred Goldstein and Tim Murphy open All-Pro Gold

All-Pro Gold, run by long-time GATA supporters Fred Goldstein and Tim Murphy, offers its services to GATA supporters and anyone else interested in precious metals. The company brokers a full line of precious metals and numismatic coins. It aims to inform prospective clients about the importance of the monetary metals as part of a diversified financial portfolio and to keep prospective clients current with market trends. All-Pro Gold has competitive pricing and ships promptly to clients so they may have physical possession. Learn more by e-mailing Fred@allprogold.com or Tim@allprogold.com or telephone 1-855-377-4653 or visit www.allprogold.com.



Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16