How do you “decentralize” the SILVER market and FORCE “competition” on the Wall Street banks, who are controlling the precious metals system?
Something just happened and I don’t believe the timing is a coincidence.
Have you heard of the SILVER Act?
Submitted by Joe Lange:
“At today’s U.S. House Agriculture Committee oversight hearing, Commodities Futures Trading Commission (CFTC) Chairman Michael Selig today applauded – and pledged to assist the efforts by – two members of Congress who recently introduced the “System Integrity through Licensed Vault Expansion and Resilience Act” (SILVER Act). The SILVER Act (H.R. 8007): – introduced by Rep. Russ Fulcher (R-ID) and Rep. Mark Harris (R-NC) – seeks to address longstanding geographic limitations on approved depositories for precious metals tied to regulated futures markets.”
(CFTC Chairman to Examine National Security Risks from Concentration of Precious Metals Depositories in NYC)
The Trump appointed Commodities Futures Trading Commission (CFTC) Chairman Michael Selig, has vowed to help pass the SILVER Act, which approves precious metals “depositories” across the country, in order to take away Wall Street’s centralized control of the “futures supply.”
But don’t miss why this is so important.
It’s targeting something specific, that has been used to “manipulate” the prices of precious metals for many decades!
“Speaking at the oversight hearing, Rep. Mark Harris said: “Mr. Chairman, I was concerned to learn that the only approved metals depositories used for deliveries on gold and silver futures contracts are heavily concentrated in the single geographic region around New York City.”
“And this level of geographic concentration is troubling to me from a point of national security, market efficiency, and operational resiliency standpoint, which is why I chose to be an original co-sponsor of the Silver Act that seeks to correct this issue.
After all, we’ve seen firsthand whether through terrorist attacks like 9/11, extreme weather events like Hurricane Sandy, the New York region is not immune to disruption.”
Did you catch that? The only “approved” metals depositories used for deliveries on gold and silver “futures contracts,” are located in the New York area.
Here’s something I didn’t know:
“Today’s framework restricts exchange-approved precious metals vaults to within roughly 150 miles of New York City”.
The crooked Wall Street banks have “manipulated” the gold and silver prices through “futures contracts,” longer than people realize.
They’ve purposely suppressed their prices, especially SILVER, in order to prop up the fiat currency and “hide” the fact that our currency was constantly losing real value.
The “centralization” of precious metals depositories(supply) allows for manipulation of the “futures” prices.
But did you catch the “catalyst” for passing this law?
“This level of geographic concentration is troubling to me from a point of national security.”
“National Security” is a KEYSTONE to everything Trump is doing, because the president has a lot of power over “national security” according to the Constitution.
“And so concentrating critical financial infrastructure in a single region like New York does tend to create potential risk and vulnerabilities that we just wouldn’t accept in other sectors, especially one that is so crucial to our financial system.”
Not only is this just common sense, when it comes to “national security,” it’s going to remove “centralized control” over our financial system.
The SILVER Act will also do this:
“In addition to risk concerns, proponents say the current system limits competition and drives higher costs for investors. Storage fees at existing exchange-approved facilities are often at the maximum allowable rates, while comparable facilities outside the New York region may offer services at significantly lower costs.”
COMPETITION.
“If enacted, the legislation would mark a significant step toward modernizing the U.S. precious metals market by addressing concentration risks, improving market access, and fostering greater competition.”
The NEXT Banking Crisis Will Be the LAST -ALL of the US Dollar’s Purchasing Power is Going to SLAM into Gold & Silver! -The END GAME Investor’s Rafi Farber
