We are now very near to the beginning of the end for the suppression of the gold price with the LBMA unallocated gold and Comex paper gold being checkmated by Bullion Capital with real gold being traded with allocated storage or delivery on a world wide accessed platform, 23 hr a day.
In coming weeks/months the LBMA vaulting system will likely start to lose physical gold transferred to Bullion Capital's vault in London and newly mined gold will likely head there as well so that the LBMA will soon be hemoraging gold and ultimately be put out of business.
The gold price over time should come to reflect the balance of supply and demand which is not the case at the moment. MML is likely to benefit by selling its gold after refining directly or through a broker on the new platform at increasing prices that should head up towards $1500 initially and very much higher later. There have been many false dawns in this saga, but the next few months should be very interesting as the long standing gold price manipulation systems come under competition and pressure that they have never had before and they can't control.
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20/3. Andrew Maguire latest re Bullion Capital. On course for April launch:
I am also starting to see very large interest for our new membership-based non-LBMA physical exchange. This exchange employs disruptive technology that levels the playing field by taking away the traditional power and privileges the commercials have traditionally enjoyed. This membership exchange already employs over 50 brokers, of which I am one.
History In The Making
I am pleased to confirm I have had it verified that in April we all plug into the soon-to-be-announced international facing exchange, connecting all global hubs. This is history in the making and it will change the way bullion is traded forever.
This system started as planed yesterday (20/3) with the 4 bullion banks from the old 'fix' plus UBS and Goldman Sacs. So 6 bullion banks altogether but significantly with no Chinese banks at all at commencement. As mentioned previously I believe it's likely the Chinese banks will wait for a few weeks when the alternative system, Bullion Capital, is live with direct gold wholesale trading in London, China and world wide before participating.
MML Price at posting:
82.0¢ Sentiment: Buy Disclosure: Held