London gold fixing has been dead for more than four years
In some mass media there was information that on 19 September in London in a very narrow circle and behind closed doors was a meeting of influential bankers and financiers, dedicated to the 100th anniversary of the so-called London gold fixing (London Gold Fixing).
The participants of the anniversary meeting were representatives of banks Barclays, HSBC, Deustsche Bank, Scotiabank and Societe Generale, senior managers of the company The London Gold Market Fixing Limited (LGMFL), the heads of the Bank of England. All of the beginning of the XXI century were members of the London gold fixing (LZF). LGMFL company, the management organization LZF, its founders were the same five banks, and the Bank of England, not formally participating in the procedures LZF invisibly coordinated the work of LZF. The meeting was held at the Bank’s office of NM Rothschild & Sons in St Swithins lane in the British capital. The guests were received by the head of NM Rothschild & Sons David rené De Rothschild (David René James de Rothschild).
David René De Rothschild
The date of birth of the London fixing is considered to be September 12, 1919. The founders of LZF are the Rothschilds, which even a century before this became the “masters of gold” in Europe; they grabbed it for themselves thanks to the Napoleonic wars. While the Bank of England, by the way, came under their full control in 1815, when they bought on the cheap its shares in the result of a carefully prepared operation.
The first world war led to the suspension of the gold standard, inculcated by the Rothschilds in the nineteenth century. But the gold standard provided the demand for the yellow metal, which the Rothschilds family clan gave loans to States to maintain those your money circulation. To compensate for the loss caused by the termination of the gold standard, the Rothschilds decided to take control of the markets the yellow metal. And control tool became the gold fixing, which allowed the Rothschilds to move the price of gold in the desired direction.
In any textbook in Economics you can read that LZF is a method of establishing the daily prices of gold, which was used in London interbank gold market since September 12, 1919. The price been established then the company London Gold Market Fixing Limited on the results of the supply and demand for gold. The price of gold resulting from the London gold fixing was almost a world price and was used as a benchmark in the vast majority of contracts for the supply of physical gold in the world.
In LZF at the time of his birth was attended by five organizations involved in the manufacturing and refining of the yellow metal and constituting an informal “gold club” of London (established in 1850): N M Rothschild & Sons (“N. M. Rothschild and sons”); Mocatta & Goldsmid (“Mocatta and goldsmith”); Pixley & Abell (the”Pixley and Abel”); Samuel Montagu & Co (Samuel Montagu & Co.); Wilkins Sharps (Sharps Wilkins). All the “magnificent five” were under the control of the Rothschild clan.
The first fixing was set price of gold per Troy ounce to 4 pounds 18 shillings and 9 pence. In new York the price in this period amounted to 19.39 dollars. The original members of the gold fixing could communicate and set a price on the phone, then began to meet regularly at the Bank’s office of the Rothschilds. It was a kind of ritual.
Fixing on gold in London made twice a day at 10:30 (morning fixing) and at 15:00 (evening fixing) local time representatives of the “magnificent five”. They kept in constant contact with their dealers and through them with commercial companies offering and/or buying physical gold from all over the world. The procedure began with announcements by the presiding prices, which he considered optimal at the moment. If sellers on the price, then the price went up. If there were no buyers, the price dropped. If received counter-proposals, it was calculated the ratio between sellers and buyers of gold. The process continued until, till market equilibrium.
Of course, it was a beautiful performance. Omitting details, I will say that the representatives of the “Golden five” could, if necessary, to hold bids for buying and selling of the yellow metal or to throw in the game about the applications that are made by the people of the Rothschilds. In the end, the price of gold has appointed those gold traded.
In 1939-1954 years the London gold market was not functioning and the gold fixing was carried out. From 1954 until the early 1970s years the opportunities of the “Golden five” to manipulate the price of the yellow metal were limited, as established at the conference in Bretton woods zolotodollarovy standard provided for the maintenance of monetary authorities in gold prices at a fixed level – 35 dollars per Troy ounce. However, pure fixed price in those years was not, as in parallel with the official market for gold existed a private market, where prices could significantly deviate from the fixed value of 35 dollars.
After the collapse zolotodollarovy standard in 1970-e years the price of gold began to dance. It was a Golden time for the “fab five”. On the London market accounted for only a few percent of world trade in physical metal, but “five” is ruled by the world market. The participants LZF participated in a strategic play on the slide.
We are talking about what in the world in the 1980-ies began to develop the global gold cartel, part of which consisted of Federal reserve Bank of new York, the Bank of England, the largest banks the wall street and city of London. The Rockefeller clan needed a strong dollar, so he could really become a world currency. Competitor of the dollar was gold. The gold cartel was intended to bring down the price of the precious metal to allow American dollars to enter the world orbit. It would seem that the decision of the Jamaican conference on the demonetization of gold should qualify as a defeat of the Rothschilds; in a tactical sense it was, but in the long term the Rothschilds can be winners.
Over the past four decades, the world market was thrown out large quantities of the yellow metal. Source of supply were the gold reserves of many Central banks, treasuries and the IMF. In addition to the official sales of gold from the reserves was an unofficial emissions yellow metal bins of the monetary authorities.
There is a strong suspicion that in a long time, the gold cartel has lowered prices at the expense of the precious metal from reserves of Fort Knox (the main store of gold in the U.S. Treasury). Although for many years in official statistics, the US is one and the same figure is the Treasury’s gold reserves – 8100 tons, experts suspect that it is a fiction. Some say that Fort Knox is gold, and gold plated tungsten ingots, that is from the United States is the place outright fraud. Others argue that gold has left the vault as a result of operations, called “gold loans” and “gold leasing”. Instead of metallic gold from the U.S. Treasury have only papers confirming his demands for gold. And that, most likely, physical gold will never return to Fort Knox. The question is: where flowed gold from official reserves? I think, in structures controlled by the Rothschilds. They need it again to impose on the world gold standard. The Rothschilds have been patiently waiting for decades, and now seem to be pumping gold in their safes already ending.
Some authors ascribe the London gold fixing the functions of the world gold cartel. This is a mistake. LZF only take into account the activities of the global gold game. And members of the LZF continued to make good money even in the face of the game for a fall. If you look at graphs of gold prices, we will see that these graphs, solid teeth. And by the end of the twentieth century “the Golden five” lost to care. Her blatant manipulation of the precious metal became visible to the naked eye.
And in the beginning of the new century “five” felt a smell of fried. The traditional parties began to leave LZF. A group of Rothschild withdrew from gold trading and, accordingly, the gold fixing; since 2004 its place was taken by the Bank, Barclays Capital (Barclays Capital). The location of the company “Mocatta and goldsmith” took the company Scotia-Mocatta, which is the successor of the company Mocatta and part of the Bank the Bank of Nova Scotia. Place “of Pixley and Abel” won the Deutsche Bank – owner of Sharps Pixley. Place Samuel Montagu & Co took the Bank HSBS, which, as it turned out, was the owner of this company at the present time. And finally, another major multinational Bank Société Générale became part of the new “Golden five”, which continued operations LZF.
New members LZF had a close relationship with the Rothschilds. The head of Barclays Marcus Agius was the son-in-law of the former head of NM Rothschild & Sons Edmund de Rothschild became the main representative of the clan of billionaires in the “Golden five”. And loud statements about the fact that the Rothschilds, who two centuries engaged in the gold business, suddenly he was gone, – the exaggeration, if not a deception.
The financial Supervisory agencies of the EU, Germany and the UK suddenly “woke up” and began to closely monitor the operations LZF. Officials of financial supervision began to make allegations of abuse participants LZF. One member of the updated “Golden five” nerves could not stand. We are talking about Deutsche Bank. He tried to sell his place in LZF, but wanting to buy was not. In 2014, Deutsche Bank left LZF. For the first time is the “Golden five” were “four”: Scotia Mocatta, HSBC, Societe Generale, Barclays Capital. Financial regulator the UK Financial Conduct Authority (FCA) in may 2014 launched an investigation against Barclays Capital. The British government then tried to extinguish the scandal erupted a ridiculously small amount of fines (about 30 million euros) imposed on controlled by the Rothschilds Bank Barclays.
In December 2015, a group of canadian investors filed in Ontario superior court of justice class action lawsuit against all the members of the London gold fixing, including the company The London Gold Market Fixing Limited, accusing them of “conspiracy to fix, raise, lower, maintain, stabilize, monitor or unduly raise the price of gold and gold related investment instruments”.
And here I return to where I began. A secret meeting of bankers on 19 September 2019, in London, was the anniversary of the deceased. The London gold fixing had died four and a half years ago – in March 2015. To replace him came an entirely new system, which is a specially designed transparent e-auction with a tolerance for a large number of participants. Launched round-the-clock international gold market.
The new system is called the LBMA Gold Price. Once the “Golden five” LZF and the London Association of participants of the market of gold bullion (London Bullion Market Association – LBMA) fully coincide. Today the participants LBMA is much wider. For the operation of the new system, there were 13 participants of electronic auctions, and they are all banking organizations. This: Bank of China, Bank of Communications, China Construction Bank, Goldman Sachs International, HSBC Bank USA NA, ICBC Standard Bank, JPMorgan Chase, Morgan Stanley, Société Générale, Standard Chartered, The Bank of Nova Scotia – Scotia Mocatta, The Toronto Dominion Bank, UBS.
Veterans LZF we see here HSBC, Société Générale, The Bank of Nova Scotia – Scotia Mocatta. And ten participants – the beginners and among them is dominated by Chinese and American banks.
What the Rothschilds – in fact, in the system of the LBMA Gold Price no N M Rothschild & Sonsnor Barclays Capital?
I think the Rothschilds game gold fixing is not very interesting. They have more strategic plans. There are many signs that they are betting on recovery in the world’s gold standard, and is a project of a completely different scale. It can start with those countries, the Central banks in recent years and is particularly actively accumulate the yellow metal. We are talking about people’s Bank of China and Bank of Russia…Valentin Katasonov