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Ronan Manly: Scotia unloads New York vault but remains part of the London metals cartel
7:22p Monday, March 8, 2021
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly writes today that while the Bank of Nova Scotia has given up its New York Commodities Exchange metals vault in New York, the bank -- contrary to what news reports have suggested -- has not gotten out of the monetary metals business as a consequence of its U.S. conviction for market manipulation.
No, Manly writes, "Scotia is still a market-making member of the London Bullion Market Association in gold and silver, still a member of the fractionally backed paper gold and silver trading engine -- the London Precious Metals Clearing Ltd. -- and still involved in LBMA precious metals vaulting even though it doesn't have its own vault. ...
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"In addition, Scotia is still a market-making member of the London platinum and palladium market."
Manly's report is headlined "Scotia Sells Its Comex New York Vault in Slow-Motion Exit from Gold and Silver Markets" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/scotia-sells-its-comex-ny-...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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