This past week, it emerged in federal court that Deutsche Bank has been manipulating the silver market. As part of their settlement, they agreed to expose the other banks doing the same.
A month ago, Rob Kirby from Kirby Analytics had appeared on Greg Hunter’s USA Watchdog, where he’d forecast that something like this was imminent. He’s now back on the show to discuss the details, saying, “This criminal activity has been going on for at least 20 years and this is just the thin edge of the wedge, in terms of an exposure of this criminal activity. This rigging of the [metals] markets is a game that’s Anglo-American-centric…[and]…the epicenter comes out of the US Treasury and the US Federal Reserve Bank. They’re the ones who give the marching orders to the banks, who now find themselves caught-up in a web, in which they were really just doing the grunt work for officialdom.”
Historically, precious metals have been the best alternative to fiat money and the US dollar has been the world’s reserve currency, used to settle all international trade accounts.
The inflationary practice of printing excessive US dollars (aka “Quantitative Easing”) has historically created conditions for the prices of gold and silver to be bid up – and indeed, the demand for gold and silver has gone up astronomically over the past 5-7 years. Kirby says that the sale of paper gold and silver has been used to suppress this demand and to make it appear that people are still happy with dollars and prefer them to precious metals.
He says that what’s happening today is a replay of what happened during the Vietnam War, when the US was printing too many dollars, causing countries like France in 1971 to redeem their dollar holdings with gold, to which the dollar had been pegged since 1882. The dollar soon defaulted on its promise to be transferable to a specific value in gold and President Nixon officially took the dollar off the gold standard at that time.
Today, we see China, Russia, India and others are making moves to protect themselves from the systemic risk of the over-printed dollar. It’s become clear to many that the dollar’s reserve status is an anachronism which cannot last, raising important questions not addressed for over a century. It’s just a matter of time before the entire currency system will face a radical reset reflecting today’s reality. This is something for which the financial world is unprepared.
Two payment platforms have dominated large-scale settlements in international trade; the European-based SWIFT system and the US’ Clearinghouse Interbank Payment System (CHIPS). China has recently launched its own platform, the Chinese Interbank System (CIPS), which may soon merge with SWIFT. Kirby declares, “My gut tells me that this will marginalize America as the main processor of global payments…this will embody a total reset, as to which currency will be the reserve currency. I suspect that when China merges their CIPS with the SWIFT system, that they will also back their currency with gold.” Kirby believes that this is why China has been buying gold so aggressively over the past 10-15 years. It’s been done with a view toward greatly diminishing the role of the dollar as the world’s Reserve Currency.
Over the past two weeks, the US Federal Reserve bankers have held several secret meetings, followed by a meeting with the President and Vice-President. Kirby sees this as very serious. The Fed appears to be planning to mitigate the damage which they, themselves have caused with their manipulation of the US dollar price of precious metals. Kirby forecasts an overnight, dramatic reduction of the value of the dollar, that will occur “in very, very short order.” As in, “the next 2-3 weeks!”
Kirby calls the members of the US Federal Reserve “Buffoons”, who have done their constituency “such a disservice!”
Kirby’s forecast gets worse. He says, “When banks have nothing else to do, they take us to war. A world war. Are we going to have a nuclear war?…the group of people who have seized power in America have no heart, no soul, they have no allegiance to America. America is not run by Americans anymore. Look at the absolutely preposterous antics that are going on in the electoral process right now…the Republicans and the Democrats don’t care who the Americans want to be President. They’ve cancelled caucuses and primaries in – how many states, already?”
Kirby says that everything is on the table right now – at the very least, hyperinflation. He notes that, in the interests of National Security, that the leaders of US intelligence agencies can grant waivers to the biggest banks, whereby they would not have to reveal what they have on their books, which means that if they’re questioned by a regulatory agency as to whether they’re solvent or insolvent – they can simply lie.
Kirby believes that he will “live to see the day when you can’t buy gold with US dollars.” His advice for anyone watching is that, “There’s no such thing as a bad day to buy precious metals.”