London Gold Exchanged Closed Permanently

[Steven Gaal]

link http://www.activistpost.com/2011/09/alert-london-gold-exchange-permanently.html

Monday, September 26, 2011Digital Currency Trader London Gold Exchange Permanently Closed!

Tried, Trusted & Reliable?

Activist Post

It seems that the scandalous financial world has claimed another high-profile casualty: the London Gold Exchange. An announcement was made on their website claiming "Due to operational difficulties the London Gold Exchange is permanently closed for business."

According to Wikipedia:

The London Gold Exchange was owned by LGE International LTD., an offshore company registered in Belize, with offices in London, England and Hong Kong... London Gold Exchange operated 2 franchises, one in the UK and one 'International' which covered everywhere other than the UK. The UK administration office was in Central London, with staff based in locations around the UK. The International administration office was in Hong Kong, with staff also operating from mainland China. Technical staff also operated from locations in Australia.

Founded in 2002, their official business was trading digital currencies like c-gold, Liberty Reserve, Pecunix and v-money.

No further explanation was given for the "operational difficulties," nor has there been any indication as to if and how their 100,000 members will be affected.

Could this be a sign of things to come? France bands cash sales of Gold and Silver over $$600

[Steven Gaal]

link http://www.activistpost.com/2011/09/alert-london-gold-exchange-permanently.html

Monday, September 26, 2011Digital Currency Trader London Gold Exchange Permanently Closed!

Tried, Trusted & Reliable?

Activist Post

It seems that the scandalous financial world has claimed another high-profile casualty: the London Gold Exchange. An announcement was made on their website claiming "Due to operational difficulties the London Gold Exchange is permanently closed for business."

According to Wikipedia:

The London Gold Exchange was owned by LGE International LTD., an offshore company registered in Belize, with offices in London, England and Hong Kong... London Gold Exchange operated 2 franchises, one in the UK and one 'International' which covered everywhere other than the UK. The UK administration office was in Central London, with staff based in locations around the UK. The International administration office was in Hong Kong, with staff also operating from mainland China. Technical staff also operated from locations in Australia.

Founded in 2002, their official business was trading digital currencies like c-gold, Liberty Reserve, Pecunix and v-money.

No further explanation was given for the "operational difficulties," nor has there been any indication as to if and how their 100,000 members will be affected.

Could this be a sign of things to come? France bands cash sales of Gold and Silver over $$600

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Blogger breezer1 from zerohedge site comment /////+

A subscriber sent me a link to the London Gold Exchange which closed their doors PERMANENTLY today. Here's the link: www.londongoldexchange.com At first I thought they might be related to the London Metal Exchange but they are not. Just similar names. Here's the description of the London Gold Exchange from Wikipedia: "London Gold Exchange is a digital currency exchanger founded in 2001. The London Gold Exchange is owned by LGE International LTD., an offshore company registered in Belize, with offices in London, England and Hong Kong. London Gold Exchange operate 2 franchises, one in the UK and one 'International' which covers everywhere other than the UK. The UK administration office in Central London, with staff based in locations around the UK. The International administration office is in Hong Kong, with staff also operating from mainlandChina. Technical staff also operate from locations in Australia." Yes. This was a DIGITAL gold exchange playing in the gold DERIVATIVE markets. From other articles the London Gold Exchange claimed to be the LARGEST e-gold exchange in the world.

Hmmm... This surely can't be good news for their customers or the COUNTER PARTIES on the other end of these paper/electronic gold derivative transactions. The ripple effect of an implosion of gold and silver derivatives will set off the long awaited "Weapon of Mass Financial Destruction". I doubt this will be big enough to start the crash but it is definitely a sign of things to come.

Then again, there is not much difference between an e-DIGITAL market and the COMEX market as both are just electronic derivatives of gold and silver. It's possible that September will be the largest volume month for COMEX silver in history... meaning north of 3,000,000 contracts traded representing over 15 Billion Ounces of SILVER! To add some context there's only about 30M ounces of physical silver available for delivery in the COMEX warehouses which represents a 500-1 ratio of paper trades against physical silver available for delivery in the month...and this is how the price is set for physical commodities in this age of paper Ponzi Schemes. I know it is difficult to ride out these slams but this IS the end game so...

STAND STRONG!!! Obviously, it looks like we are going to have to EARN the future rewards on our physical gold and silver investment once again. So be it!

We saw it coming long ago and IF you survive another few months with your METAL IN HAND then you will be one of the ONLY investors in the world to have preserved their wealth after the CRASH. Keep and eye out for the END of the THIRD quarter as there should be MANY surprises in OCTOBER. ////+

[Steven Gaal]

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France Bans Cash Sales Of Gold & Silver Over $600

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link http://info-wars.org/2011/09/26/france-bans-cash-sales-of-gold-silver-over-600/

Europe moves to deter citizens from preserving their wealth.

Paul Joseph Watson

Monday, September 26, 2011

Central banks are presumably so frightened that a growing number of citizens are abandoning rapidly devaluing paper currencies and preserving their wealth through precious metals that governments are now cracking down on the anonymous purchase of gold and silver.

Following the Austrian government’s announcement that it was restricting the sales of precious metals to $20,000 a time, an amount which would purchase just 11 ounces, the French authorities have followed suit with an equally draconian new measure to deter people from buying gold and silver.

A recently amended French law states (translation), “Any transaction on the retail purchase of ferrous and non ferrous (metals) is made by crossed check, bank or postal transfer or by credit card, not the total amount of the transaction may not exceed a ceiling set by decree. Failure to comply with this requirement is punishable by a ticket for the fifth class,” going on to confirm that any amount over €450 euros or $600 US dollars “must be paid by bank transfer”.

“According to independent reports the law was passed to curb the illegal sale of stolen metals like copper, steel, etc. Given the rampant rise in thefts of these metals from telephone poles, construction sites and businesses here in the United States, we can certainly see this as a reasonable assessment for why the French passed this law,” writes Mark Slavo.

“However, the fact that no exception was made for gold and silver simply cannot be ignored. The new law effectively makes it illegal to purchase even a single Troy ounce of gold or around 18 ounces of silver in cash.”

$600 USD isn’t even enough to purchase a half ounce of gold. This guarantees that citizens who are trying to transfer their savings over to precious metals will be known to the authorities, leaving them vulnerable to government confiscation of their gold and silver later on down the line, as happened in 1933 under FDR.

Why are central banks and governments in Europe so eager to make it as difficult as possible for citizens to buy precious metals? It’s largely because unlike every other financial commodity, they don’t have the market completely under their control, and cannot tolerate the idea of people having true power over their own economic destiny.

Secondly it’s because the great foundation stone of the globalists’ plan to create a federalized European superstate and the template for a future world currency – the euro – is crumbling amidst the debt crisis that has engulfed the continent. With eurozone members already preparing to abandon the single currency, the last thing the EU wants to see is European citizens of key member states like France doing the same thing by exchanging their euros for gold and silver.

The bottom line is that the central banks which run the world don’t like the slaves owning anything that they can’t manipulate the value of – it undermines their power monopoly.

In a related development, the London Gold Exchange, an international digital currency trader which has over 100,000 members, announced today that it is “permanently closed for business” due to operational difficulties.

The LGE provided a service whereby it exchanged fiat money for digital currencies stored in online user accounts, including c-gold, Liberty Reserve, Pecunix and v-money.