Is the London Bullion Market going to implode

plumb1_2

PennysIntoPounds said:

Can this thread please be left open until OP replies if they want to, why would a shortage of silver availability mean a push for digital ID cards?
Genuinely curious and not being snarky

After digital id, next step digital currency. Then these bullion banks give notes out to investors for their 10,000 kilos of silver, and inform them its safety  deposited in our vault. When infact it’s empty. 

Then as time passes by Mr investor wants his Silver, arhh you can’t have fiscal silver, but we are quite happy to cash your note in at today’s value, and transfer your digital payment .

maybe just my pea brain overthinking this? 

There was a case a few years ago city traders got caught price fixing on the exchange, what’s stopping the bullion markets doing the same?

masonic

plumb1_2 said:

PennysIntoPounds said:

Can this thread please be left open until OP replies if they want to, why would a shortage of silver availability mean a push for digital ID cards?
Genuinely curious and not being snarky

After digital id, next step digital currency. Then these bullion banks give notes out to investors for their 10,000 kilos of silver, and inform them its safety  deposited in our vault. When infact it’s empty. 

Then as time passes by Mr investor wants his Silver, arhh you can’t have fiscal silver, but we are quite happy to cash your note in at today’s value, and transfer your digital payment .

maybe just my pea brain overthinking this? 

There was a case a few years ago city traders got caught price fixing on the exchange, what’s stopping the bullion markets doing the same?

The internet is full of this sort of nonsense. It's not necessarily your fault for being taken in by it. Social media can gradually feed people a diet of increasingly misleading stuff, like the frog slowly being boiled in the pot. There's even certain political parties jumping on the bandwagon, both here and elsewhere in the world.

In one of the more extreme forms, the World Economic Forum is set to usher in a totalitarian regime where you are forced into a labour camp, your money/digital investments are worthless, and your ability to transact is authorised or denied according to your level of carbon credit and total obedience to the WEF.

What utter tosh! Yet a frightening number of people actually believe something like this. Along with 5G phone masts cause Covid, the vaccines implant microchips in people, and all the crazy QAnon stuff.

PixelPound

plumb1_2 said:

PennysIntoPounds said:

Can this thread please be left open until OP replies if they want to, why would a shortage of silver availability mean a push for digital ID cards?
Genuinely curious and not being snarky

After digital id, next step digital currency. Then these bullion banks give notes out to investors for their 10,000 kilos of silver, and inform them its safety  deposited in our vault. When infact it’s empty. 

Then as time passes by Mr investor wants his Silver, arhh you can’t have fiscal silver, but we are quite happy to cash your note in at today’s value, and transfer your digital payment .

maybe just my pea brain overthinking this? 

There was a case a few years ago city traders got caught price fixing on the exchange, what’s stopping the bullion markets doing the same?

Big difference between price fixing and stealing silver. There's inspection over gold/silver. Would be a massive scandal if at bank level they took the physical metal, the bank would collapse.
Definitely a case of 1+1 and getting 9999999.
Your post seems to amalgamate different ideas into some unified conspiracy theory. 

kempiejon

And have you seen the price of platinum this year, the price rise beats silver.  I like a physical replication ETC for metals and probably other commodities. The last time I bought silver >10 years back I used a synthetic ETC and banked my profits as I realised I didn't understand the replication, swaps or whatever and what risk that implied. 

Ocelot

The silver spot price was 1.65 a gram yesterday. At its previous peak in 2011 it reached 0.92 a gram, then fell down to 0.44 over the next few years.

PennysIntoPounds

Thanks for the explanations 

plumb1_2

PixelPound said:

plumb1_2 said:

PennysIntoPounds said:

Can this thread please be left open until OP replies if they want to, why would a shortage of silver availability mean a push for digital ID cards?
Genuinely curious and not being snarky

After digital id, next step digital currency. Then these bullion banks give notes out to investors for their 10,000 kilos of silver, and inform them its safety  deposited in our vault. When infact it’s empty. 

Then as time passes by Mr investor wants his Silver, arhh you can’t have fiscal silver, but we are quite happy to cash your note in at today’s value, and transfer your digital payment .

maybe just my pea brain overthinking this? 

There was a case a few years ago city traders got caught price fixing on the exchange, what’s stopping the bullion markets doing the same?

Big difference between price fixing and stealing silver. There's inspection over gold/silver. Would be a massive scandal if at bank level they took the physical metal, the bank would collapse.
Definitely a case of 1+1 and getting 9999999.
Your post seems to amalgamate different ideas into some unified conspiracy theory. 

I don’t know about stealing it, maybe it’s like the banks. For every pound you deposit they lend out multiple times.They actually don’t have the cash.
Anyway best if thread is closed down 

artyboy

Yes, let's just leave this festering pile of conspiracy nonsense locked in perpetuity with no further ability for those of us with a brain cell to refute it further...

Aretnap

plumb1_2 said:

PixelPound said:

plumb1_2 said:

PennysIntoPounds said:

Can this thread please be left open until OP replies if they want to, why would a shortage of silver availability mean a push for digital ID cards?
Genuinely curious and not being snarky

After digital id, next step digital currency. Then these bullion banks give notes out to investors for their 10,000 kilos of silver, and inform them its safety  deposited in our vault. When infact it’s empty. 

Then as time passes by Mr investor wants his Silver, arhh you can’t have fiscal silver, but we are quite happy to cash your note in at today’s value, and transfer your digital payment .

maybe just my pea brain overthinking this? 

There was a case a few years ago city traders got caught price fixing on the exchange, what’s stopping the bullion markets doing the same?

Big difference between price fixing and stealing silver. There's inspection over gold/silver. Would be a massive scandal if at bank level they took the physical metal, the bank would collapse.
Definitely a case of 1+1 and getting 9999999.
Your post seems to amalgamate different ideas into some unified conspiracy theory. 

I don’t know about stealing it, maybe it’s like the banks. For every pound you deposit they lend out multiple times.They actually don’t have the cash.

When I opened my first savings account at the age of about eight, I did sort of assume that the bank would just put my pound note in a safe, then leave it there until I came back with my passbook to withdraw it. Why they were paying me interest for the privilege of storing my money in a safe wasn't really a question that ever crossed my mind.

That was understandable, because I was eight years old. However, the fact that this is not actually how the banking system works, and that the bank does not actually have your cash sitting in a safe, shouldn't really come as a surprise to anybody who is over the age of eight.

plumb1_2

Aretnap said:

That was understandable, because I was eight years old. However, the fact that this is not actually how the banking system works, and that the bank does not actually have your cash sitting in a safe, shouldn't really come as a surprise to anybody who is over the age of eight.

Exactly the Silver the note holders purchased is not in the vaults.