Submitted by Ronan Manly, BullionStar.com
Sometime in the coming days, the London Bullion Market Association (LBMA) plans to begin reporting the amount of real physical gold and silver that is actually stored in the network of LBMA vaults in London. This follows an announcement made by the LBMA on 8 May.
There are 7 commercial vault operators (custodians) in the LBMA custodian vault network namely:
Precious Metals Are "Best Defence" Against Bail-ins In Economic Crisis
Precious metals are "real assets" and "best defence" against bail-ins and cashless society in the economic crisis which is "on its way"
S&P futures are sliding this morning, down 0.4% and tracking the accelerating decline in European and Asian stocks, driven by a move higher in global interest rates, which started with Japanese 10Y yields rising to 0.1% for the first time since February, but mostly Bund yields which spiked after tripping stops, and jumped as high as 0.53% for the first time since early 2016. Oil climbs, dollar and gold slide. Economic data include initial jobless claims, trade balance, Markit PMI readings.
Brexit negotiations officially began three weeks ago, and whether the UK will retain access to the European Union’s single financial market once they’re over is unknown. Yet that hasn’t stopped regulators on the Continent from taking a swipe at more than a trillion euros in assets, and thousands of well-paying finance jobs required to manage them, that they think belong on the other side of the English Channel.
Authored by Matthew Jamison via The Strategic Culture Foundation,