LME steals NickelLME steals Nickel in Broad Daylight!
Media too Dumb to Notice
Silver Stock Report
by Jason Hommel, June 7, 2007
An ominous development took place today that clearly shows how important it is to take physical delivery of your silver, in person, and store it in your own safe.
The LME declared that two people who own more than 25% of the remaining nickel at the LME must lend some of their nickel! Imagine that! "MUST LEND" sounds like a "forced theft" taking, to me! If you store your stuff at another person's place, they can just "up and declare" what you can, and cannot, do with it. Can't keep it, must lend it? Truly astounding. It's almost as if those who own the nickel, don't really own it, but rather, the LME owns it, if it is in "LME approved" warehouses.
Be astounded at the news headline, it reads as if it's right out of a "Ripley's Believe it or Not!" book. The authors of the articles write as if they are totally clueless about the content of what they are saying. (Maybe they are too close to the action, or even accomplices?)
Nickel tumbles after LME changes rules, Friday June 8
https://sg.biz.yahoo.com/070607/3/493ea.html
Nickel tumbles after LME changes rules
Nickel Falls to 10-Week Low After London Exchange Changes Rules
I almost can't believe that nickel investors let these institutional crooks get away with that. It's not a 'rule change', it's theft! They are actually stealing the nickel owned by wise investors who have wisely predicted the price rise, and wisely planned to hold nickel in advance. So, it's not enough for such wise investors to have to pay all the taxes on their capital gains that they will eventually pay, but they are forced to "dump" some nickel, too! And in amounts they didn't choose, at a time they didn't choose, at a price they didn't choose.
And don't write to me saying, "they are just borrowing, so it's not stealing". Yeah? Well, borrowing without asking is the exact same thing as stealing.