Jamie DimonNot only does the LBMA price set the price for clearing physical gold and silver trades twice a day, it also is used to benchmark OTC derivatives.
My best educated guess is that a couple of the most influential bullion banks involved in the fix – JP Morgan and HSBC, each of whom respectively operates the SLV and GLD trusts – used the fraudulent silver price on Friday in order to address an immediate needeither a large physical silver deficiency or a derivatives problem.
The act itself reflects the desperation that is creeping into the bullion banking establishment.  
Desperation that is being fueled by what I believe is the early stages of an extremely powerful resumption of the bull market in gold/silver.

willieTwo things are very clear in the latest rig job in silver:
1) Somebody had a very large silver derivative position that was supposed to be settled upon the LBMA Silver Price (the Fix) last Thursday.
2) The loser of that position most likely had a catastrophic loss that will emerge over the next few weeks when the contract is settled…or defaulted upon.

This is the End Game my friends and the End Game was always going to be messy.

Play

SprottIn the wake of Japan announcing negative interest rates and chaos in the silver market with Thursday’s LBMA silver price fix smashed .84 below spot prices by the 6 fixing bullion banks, we welcomed The Admiral of the Silver Market, Eric Sprott himself to help us break down all the action.
In Sprott’s words, the sheer brazenness of the silver fix smashReeks of Desperation“.

The discussion offers a unique look into the mind of the Billionaire Asset Manager, as Sprott shares insight into the thought process on how he evaluates whether a market is experiencing a bottom, and the legendary investor also shares the greatest financial lesson he’s ever learned…

Ahead of the fix, silver was trading at $14.42, and the fix itself, which took fourteen minutes, was finally settled at $13.58. The circumstantial evidence behind this extraordinary price behavior was there were over-the-counter market options expiring on the fix price.

 

SilverUnfortunately, it is not [a mistake]… This could be the end of the fix. It took 14 minutes to find a fix – they obviously found a fix way off of the market.
Today we had a HUGE flash crash in silver and this caused the fix to settle at 13.58  even though the spot price of silver at the time was .84 higher at $14.42. 
This is totally unbelievable- will it mark the end of the fix?

Play

Buy Silver coins at SDBullionWith the Financial System in Chaos, TFMetals’ Craig Hemke Joins the Show to Break Down All the Action, Discussing: 

  • US Mint AP Warns 2016 Silver Eagles Likely to Remain in Allocation INDEFINITELY:
    “The allocation from the US Mint which we received today was smaller than we expected….
    I believe it’s now likely that the Mint will stay in allocation for Silver Eagles for the foreseeable future.  Perhaps throughout the entire quarter.”
  • Will Deutsche Be 2016’s AIG??  Hemke Warns “Deutche Bank Could Bring Down EVERYTHING”
  • Currency Wars: Commodities Currencies in Free-Fall, China to Turn Around Gold Prices With Yuan Devaluation?
  • Craig Explains Why Cartel Are Capping Gold & Silver Prices at Critical Moving Averages
  • STRONG Physical Demand for Gold, Silver & Platinum as Financial Crisis Apparently Underway2016 Platinum Maples Sell Out in 10 Minutes!

The SD Weekly Metals & Markets With The Doc, Eric Dubin, and Craig Hemke is Below: 

Play

silver (1)With The Global Market In A Panic Over China, The Doc & Eric Dubin Break Down All The Action & Discuss The Impact On Gold & Silver:

Play

With Oil Plunging to $35, and Silver Hitting New 5-Year Lows at $13.68 Ahead of the FOMC, The Doc & Eric Dubin Break Down the Action, Discussing:

  • Silver Smashed to $13.68Are BIG New Lows Ahead?
  • Fed Set to Hike Interest Rates in the Face of Credit Markets Seizing Up
  • High Yield Bonds in MELTDOWN..It’s Likely Just Begun
  • Deflationary Snowball Gaining Momentum & Heading Downhill?
  • Supply Destruction Sowing the Seeds for Next Bull Market – Anglo American Slashes Production, Lays Off 85,000

The SD Weekly Metals & Markets With The Doc & Eric Dubin is Below:

endA few weeks ago the Fed held a closed-door, emergency meeting.
I’d like to take a moment today to go over what they likely dealt with, because it speaks volumes about what we are now facing on the world economic scene:

nuclearI would bet my life that virtually every major central bank in the world right now is a participant in the gold price suppression scheme preparing for some sort of international currency reset whose timetable has not been made known to us.
If you’re controlling the gold price you’re controlling the price of all currencies and if you can control the price of all currencies you run the world.