Peter Hambro: BIS, Central Banks Are Rigging Gold Market Using Bullion Banks’ Paper Gold

Submitted by Ronan Manly, BullionStar.com

“Gold to central bankers is like the sun to vampires.”

This week an intriguing and eye-opening article by the well-known Peter Hambro was published by British economics and politics news site Reaction.

The article, which is titled “Don’t forget the golden rule: whoever has the gold makes the rules” is intriguing and eye-opening for a number of reasons, chiefly because it pulls no punches in highlighting the price manipulation of the gold price and naming the types of entities responsible, while explaining some of the mechanisms used in the fractional-reserve London paper gold game.

Mocatta & Goldsmid

But the article is also notable in terms of who the author is. For those who don’t know him, Peter Hambro is a very well-respected name in the gold space, having co-founded and been chairman of FTSE-listed Anglo-Russian gold mining company Peter Hambro Mining (now known as Petropavlovsk). He was also, from 1983 to 1990, deputy managing director of legendary London bullion broker Mocatta & Goldsmid. Additionally, Peter Hambro’s father, Everard Bingham Hambro, was also at one time a director of Samuel Montagu, another of the legendary London bullion broker cartel firms.

On top of being an insider bullion banker, Peter Hambro is also great great grandson of Baron Carl Joachim Hambro, the founder of the famous English investment bank Hambros. In fact, Mocatta & Goldsmid even merged with Hambros bank in 1957 such are their connections. In the 1980s, Mocatta & Goldsmid was also the largest gold and silver counterparty to the Soviet Union, a fact which helped Hambro establish Peter Hambro Mining in 1994 (now known as Petropavlovsk).done

CLICK HERE to read the full article over at Zerohedge.com