Tag Archives: Bank of England

Silver Analysts Forecast $20 In Bloomberg Silver Price Survey  - Bloomberg silver price survey - Large majority bullish on silver- Silver median "12 month-forecast" of $20- Precious metal analysts see silver "24 percent rally from current levels"- Investors are pouring money into silver ETFs- Speculative funds bearish even as ETF assets rise to record- Spec funds being bearish is bullish as frequently signals bottom- Important to focus not just on silver price but on silver...

In the FT, Martin Arnold reports about a new cross-border payment method tested by the Bank of England. The “interledger” program transfers money “near-instantaneously and without settlement risk.” The Bank of England set up two simulated RTGS systems on a cloud computing platform, using the Ripple interledger to simultaneously process “a successful cross-border payment”. This is not necessarily good news for the blockchain community. The Bank of England’s proof of concept is “about...

After a tumultous week in the world of politics, with non-stop Trump drama in the US, a disastrous for Theresa May general election in the UK, and pro-establishment results in France and Italy, this is shaping up as another busy week ahead with multiple CB meetings, a full data calendar and even another important Eurogroup meeting for Greece. Wednesday’s FOMC will be the main event, with the Fed expected to hike 25bp...

This is an extract and summary from “New Gold Pool at the BIS Basle, Switzerland: Part 1” which was first published on the BullionStar.com website in mid-May. Part 2 of the series titled “New Gold Pool at the BIS Basle: Part 2 – Pool vs Gold for Oil” is also posted now on the BullionStar.com website. “In the Governor’s absence I attended the meeting in Zijlstra’s room in the BIS on the afternoon of Monday,...

Negative interest rates and the populist uprising that spurred the UK to vote for Brexit and Americans to elect Trump has helped reignite a rush into physical safe haven assets like gold and silver, which however has led to a shortage of safe venues where to store the precious metals (unlike bitcoin, gold actually has a physical dimension). And now companies that operate storage facilities for precious metals and other...

Negative interest rates and the populist uprising that spurred the UK to vote for Brexit and Americans to elect Trump has helped reignite a rush into physical safe haven assets like gold and silver, which however has led to a shortage of safe venues where to store the precious metals (unlike bitcoin, gold actually has a physical dimension). And now companies that operate storage facilities for precious metals and other valuables are ramping up their capacity to help cash in on the soaring...

This is Part 2 of a two-part series. The series focuses on collusive discussions and meetings that took place between the world’s most powerful central bankers in late 1979 and 1980 in an attempt to launch a central bank Gold Pool cartel to manipulate and control the free market price of gold. The meetings centered around the Bank for International Settlements (BIS) in Basle, Switzerland. Part 2 takes up where Part 1...

“In the Governor’s absence I attended the meeting in Zijlstra’s room in the BIS on the afternoon of Monday, 10th December to continue discussions about a possible gold pool. Emminger, de la Geniere, de Strycker, Leutwiler, Larre and Pohl were present.”      13 December 1979 – Kit McMahon to Gordon Richardson, Bank of England Introduction A central bank Gold Pool which many people will be familiar with operated in the...

Asian stocks rose lifted by commodity names; European equities trade mostly lower but with little in the way of conviction or firm direction while the Italian banking index is at the highest level in a year following domestic earnings; S&P index futures are modestly in the red after the cash market closed at a record high Wednesday and investors prepared for earnings from retailers; we expect the now general vol selling program to promptly lift the S&P into new all time highs minutes...

An article in February on BullionStar’s website titled “A Chink of Light into London’s Gold Vaults?” discussed an upcoming development in the London Gold Market, namely that both the Bank of England (BoE) and the commercial gold vault providers in London planned to begin publishing regular data on the quantity of physical gold actually stored in their gold vaults. Critically, this physical gold stored at both the Bank...