LBMA's gold price fixing scheme about to collapse, London trader tells KWN
3p ET Friday, July 20, 2012
Dear Friend of GATA and Gold:
The London trader source of King World News reports today that the nakedness of unallocated and even some supposedly allocated positions in the London bullion market now is being discussed openly and he expects defaults resulting in cash settlement as the prices of gold and silver vault higher. He adds that demand from China is steady and that China has accumulated far more metal than is being reported. An excerpt from the interview is headlined "The LBMA Gold Price Fixing Scheme Is Over" and it's posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.