Ronan Manly: Videos conceal LBMA's true purpose, controlling gold for central banks

Section:

6:08p ET Monday, August 6, 2018

Dear Friend of GATA and Gold:

Bullion Star gold researcher Ronan Manly today demolishes a series of informational videos created by the London Bullion Market Association purporting to explain the organization's role in the world gold market but actually concealing that the organization is the creation and tool of the Bank of England and the cover for central banking's suppression of the price of the monetary metal.

Manly writes: "Nowhere in the 'Who we Are' video does it mention that the LBMA system trades vast quantities of unallocated, fractionally-backed, synthetic gold positions, that the LBMA publishes no reporting of any trades in the London market, that the LBMA gold and silver auctions are dominated by its powerful bullion bank members, that the LBMA oversees the secretive London Precious Metals Clearing Limited cartel for paper gold and silver, and that there is a hidden gold lending and gold swapping market in London between central banks and bullion banks, facilitated by the Bank of England."

... Dispatch continues below ...


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The videos make "no reference to the secretive gold lending market between central banks and bullion banks, a market where outstanding 'gold deposits' owned by central banks are constantly passed around between the LBMA bullion banks and never closed."

That is, the primary function of the LBMA -- assisting central banks with defeating a competitive and independent international reserve currency -- is concealed.

Manly's expose of the LBMA's disinformation campaign is headlined "LBMA at the Movies: Golden Turkeys" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/lbma-movies-golden-turkeys...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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