Central Bank Gold Rehypothecation Scandal to Take Gold to $5,000/oz
By Jason Hamlin
November 24th, 2012
By Jim Willie
– The battle is on for delivery and verification for official gold accounts
– Evidence grows that much of it is gone, and when demanded, replaced with urgency
– It is soon to transform into a global gold war
– The German Govt gold demand to the London and NY City bankers represents a big escalation in the gold war
– The central bank coordinated QE to Infinity has brought questions of gold account location and integrity
– The Allocated Gold Account scandal is a natural event to follow the LIBOR banker scandal
– QE3 will assure a gold rise past the $2000 mark, but the new scandal will take the gold price to $5000
– The powerful gold factors are aligned and in place, led by permanent ZIRP and unlimited QE
A nasty Golden Harp could soon have its cords plucked, with the resonance working to shake loose the bankster cover of improper illicit duplicitous and probably highly illegal usage of Allocated Gold Accounts. When diverse scattered accounts are pilfered and depleted without authorization in Switzerland, resulting in several multi-$billion class action lawsuits in Zurich, all kept dutifully out of the news, that is one thing.
But when a few key official government gold accounts are ransacked in systematic fashion from established trusted locations, defying and betraying the trust of the German Govt and other national governments, that is quite another. To be sure, the system can tolerate ransacking and replacing with scurried harried efforts the Venezuelan gold account like in 2011. The media told the story with creativity and aplomb, avoiding the truth, inventing a tale, but finding a credible pile of dung to feed the public, which swallowed it whole.
The global monetary war has been raging for four years, ever since the Lehman Brothers firm was targeted and destroyed with planning and motivated execution, for the benefit of Goldman Sachs full CDS redemptions and exploit by JPMorgan in war chest reload under cover of bankruptcy court orders. The media prefers regularly to refer to the global financial crisis incorrectly and improperly. A crisis passes after a year or so. This war lingers like WWI and WW2 and Vietnam, with a clear emerging agenda to defend the USDollar regime from global isolation shun, to conceal the USTreasury Bond support mechanisms in derivatives, to avoid the US banking system from grotesque insolvency but kept afloat by grand money laundering channels, and to motivate an endless war to secure resource thefts and control that center on oil fields and the poppy fields. Witness the slow gradual inexorable collapse of the global monetary and financial system.