''Manipulating LIBOR Allows Banks to Lease & Dump Gold at Artificially Low Costs''

From Silver Doctors

''Our friend Harvey Organ has released an excellent missive discussing in detail how the manipulation of LIBOR by the bullion banks allows the cartel to lease gold (that they don’t own) at artificially low borrowing costs.

DROPPING LIBOR BELOW FAIR MARKET RATES ALLOWS THE BANKS TO LEASE AND DUMP GOLD INTO THE MARKET AT ARTIFICIALLY LOW BORROWING COSTS. So that drop in lease rates is VERY ominous. The worse part is the lease rates have flipped, with the ONE YEAR RATE NOW LOWER THAT THE ONE MONTH RATE. DO I BELIEVE MY EYES!?????? Since the one year term and longer is the usual lease rate period of the MINES, I can only conclude that the mines are being strongly encouraged to HEDGE their production. This puts us back under the market conditions more typical of a decade ago.''

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