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Ronan Manly: LBMA clearing and vaulting data reveal the absurdity of London 'gold' market

Section: Daily Dispatches

9:12p ET Monday, October 1, 2018

Dear Friend of GATA and Gold:

Bullion Star gold researcher Ronan Manly today returns to the monthly gold trading and vaulting data published by the London Bullion Market Association and calculates that 130 times more gold is traded in the LBMA system every month than exists as real metal.

Manly writes: "So next time you see the LBMA release clearing data and vault holdings data, as it does at the beginning of every month, it's worth picturing these two sets of data, not as two distinct datasets, but as two interrelated sets of data where a tiny amount of physical gold in London vaults 'underpins' vast amounts of trading in fictional 'gold,' and where mainstream financial journalists fear to tread or ask questions as to how this Ponzi scheme came into existence and has been allowed to go on for so long."

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Manly's analysis is headlined "LBMA Clearing and Vaulting Data Reveal the Absurdity of the London 'Gold' Market" and it's posted at Bullion Star here:

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

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