Deel 3 Jan de Clercq

8/22/2019 Deel 3 Jan de Clercq

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-Hoe wordt deze prijs berekend ?

1. There are five members of the Gold Fixing *Gold Market Fixing Ltd.+all of whom are MarketMaking Members of the LBMA [Voor meer over deze laatste, zie de vraag "Welke mensen leiden de

Londen Bullion Market Association (LBMA)/connecties met mijnbouw/overheden/NGOs/link met

FLO-ARM)+. The Fixing is conducted by telephone twice each London business day at 10.30 a.m. and3.00 p.m. Clients place orders with the dealing rooms of Fixingmembers, who net all orders before communicating the net interest to their representative at the

Fixing. The gold price is then adjusted up and down until sell and buy orders are matched, at

which point the price is declared fixed and allorders are executed on the basis of that price.(http://www.lbma.org.uk/assets/OTCguide20081117.pdf,cursivering door mij)

"At the start of each fixing, the Chairman announces an opening price to the other 4 members who

relay this price to their customers and based on orders received from them, instruct their

representatives to declare themselves as [netto] buyers or sellers at that price. Provided there are

both buyers and sellers at that price, members are then asked to state the number of bars they wish

to trade. If at the opening price there are only buyers or only sellers, or if the numbers of bars to bebought or sold does not balance, the price is moved and the same procedure is followed until a

balance is achieved. The Chairman then announces that the price is fixed. It should be noted that the

Fix is said to balance if the buy amount and the sell amount are within 50 bars of each other. The

Fixing will last as long as it is necessary to establish a price that satisfies both buyers and sellers."

(http://www.goldfixing.com/)

"Customers may leave orders in advance of the Fixings. Alternatively, they may choose to be kept

advised of price changes throughout the Fixing and may alter their orders accordingly at any time

until the price is fixed. To ensure that the price is not fixed before the member has had an

opportunity to communicate any changes each member has a verbal flag. As long as any flag is

raised, the Chairman may not declare the price fixed." (http://www.goldfixing.com/)

Wat verdienen de lidbanken hieraan? Er is de aangeprezen "Narrow dealing spread"; het verschil

tussen wat je betaalt voor inkopen en de prijs die je verkrijgt bij verkoop. "There is a small spread,

because a 20 cent per troy ounce premium is applied on the fix price to buyers. This is how the

participants earn the money which keeps the fix going." (http://gold.bullionvault.com/How/GoldFix)

2. Met de goudprijs wordt doorgaans die prijs die London Gold Market Fixing Ltd. vaststeld. Dat is

dus de prijs door middel waarvan 2 maal daags handel wordt gedreven. Maar op andere plekken en

andere tijdstippen wordt er ook goud verhandeld en dit op verschillende manieren, waarbij de

fixprijs (slechts) een referentie is. For over 80 years we have been fixing the price of gold providingmarket users with the opportunity to buy and sell gold at a single quoted price. It also provides a

published benchmarkprice that is widely used as a pricing medium by producers, consumers,

investors and central banks.(http://www.goldfixing.com/,cursivering door mij) De fixprijs is duszowel een werkelijke prijs als (vooral) een symbolische - maar autoritatieve - standaard.

Zo is er bv. ook de GOFO-rentegraad. What is GOFO? GOFO stands for Gold Forward Offered Rate.These are rates at which contributors are prepared to lend gold on a swap against US dollars. Whoprovides the rates? The contributors are Market Making Members of the LBMA: The Bank of NovaScotiaScotiaMocatta, Barclays Bank Plc, Deutsche Bank AG, HSBC Bank USA London Branch,

Goldman Sachs, JP Morgan Chase Bank, Socit Gnraleand UBS AG. When are the rates quoted?

The means are set at 11 am London time. These are the rates shown on the LBMA website. To show

derived gold lease rates, the GOFO means are subtracted from the corresponding values of the LIBOR

(London Interbank Offered Rates) US dollar means. These rates are also available on the LBMA

website. How are the GOFO means established? At 10.30 am London time, the Reuters page is
http://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.goldfixing.com/http://www.goldfixing.com/http://www.goldfixing.com/http://www.goldfixing.com/http://www.goldfixing.com/http://www.goldfixing.com/http://gold.bullionvault.com/How/GoldFixhttp://gold.bullionvault.com/How/GoldFixhttp://gold.bullionvault.com/How/GoldFixhttp://www.goldfixing.com/http://www.goldfixing.com/http://www.goldfixing.com/http://www.goldfixing.com/http://gold.bullionvault.com/How/GoldFixhttp://www.goldfixing.com/http://www.goldfixing.com/http://www.lbma.org.uk/assets/OTCguide20081117.pdf


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cleared of all rates. Contributors then enter their rates for all time periods. A minimum of six

contributors must enter rates in order for the means to be calculated. At 11.00 am, the mean is

established for each maturity by discarding the highest and lowest quotations in each period and

averaging the remaining rates. What are some uses for GOFO means in the market? They provide abasis for some finance and loan agreements as well as for the settlement of gold Interest Rate

Swaps. (http://www.lbma.org.uk/pages/index.cfm?page_id=52,cursivering door mij) Deze rate, zelfeen prijsstandaard, wordt dus niet op identitiek dezelfde wijze gezet als de de fixprijs, maar moet welde invloed van de fix ondergaan.

3. De huidige leden van London Gold Market Fixing Ltd. zijn: The Bank of Nova Scotia - Scotia

Mocatta, HSBC, Deutsche Bank AG London, Societ Generale Corporate & Investment Banking en

Barclays Capital. Het voorzitterschap roteert jaarlijks (http://gold.bullionvault.com/How/GoldFix)

Wie zijn zij om die standaard te bepalen?Meer nog: kan er sprake zijn van belangenvermenging als

de leden ook voor zichzelf en belangen hebben in goudmijnbouw? Allen investeren (investeerden) in

de grasbergmijn op Papua (http://www.banksecrets.eu/#/nl/Banken,juli 2006-maart 2007), HSBC en

Barclays participeren ook in de Toka Tindung Goldmine (Bloomberg, 2010). Deutsche Bank (juli

2006), HSCB (maart 2007) en Societ Generale (maart 2007) helpen FreePortMcMorran. Merk op datdit slechts een selectie is.

In 2004 gaf stichtend lid N. M. Rothschild & Sons het zitje op en werd vervangen door Barclays.

(http://www.goldfixing.com/goldfixing.pdf)De Rotschilds zouden de goudmarkt gemanipuleerd

hebben op frauduleuze wijze. (Bernstein, 2004) Een recent schandaal, waar alle huidige leden en ook

de toezichthoudende Bank of England bij betrokken waren, was de manipulatie van de LIBOR-rente

(http://www.standaard.be/cnt/dmf20120701_00207434 ). Dit heeft directe relevantie voor de

goudmarkt, omdat wat de gold lease rategenoemd wordt, berekend wordt door de GOFO-graadvan de LIBOR-graad af te trekken.

Dat een dergelijk schandaal een mogelijkheid is met betrekking tot de fixprijs, blijkt uit hoe de

Amerikaanse overheid het LIBOR-schandaal aangrijpt om een onderzoek te starten naar hoe die

goudprijs wordt bepaald

(http://online.wsj.com/news/articles/SB10001424127887324077704578358381575462340 )

-Welke mensen leiden de Londen Bullion Market Association (LBMA)/connecties met

mijnbouw/overheden/NGOs/link met FLO-ARM

0. Members of the London bullion market typically trade with each other and with their clients on aprincipal-to-principal basis, which means that all risks, including those of credit, are between the two

counterparts to a transaction. This is known as an Over the Counter (OTC) market, as opposed to anexchange traded environment.(http://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_market)OTC of Over the

Counter wordt gedefinieerd als Transactions that are quoted and conducted between parties on aprincipal-to-principal basis as opposed to being traded via a broker on an exchange[beurs].(http://www.lbma.org.uk/assets/OTCguide20081117.pdf)Unlike a futures exchangewheretrading is based around standard contract units, settlement dates and delivery specificationstheOTC market allows flexibility. It also provides confidentiality, as transactions are conducted between

the two principals involved.(http://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_market)Het is dus een

niet-transparante markt.

Het is dan ook moeilijk te zeggen hoeveel er verhandelt wordt. 86,75% van de OTC markt in 2011 zou

in London gebeurd zijn, waarvan ongeveer 90% in spottransacties (de rest bestaat uit futures en

opties) (http://www.lbma.org.uk/assets/Alch68GoldPrice.pdf). Er zijn statistieken beschikbaar op
http://www.lbma.org.uk/pages/index.cfm?page_id=52http://www.lbma.org.uk/pages/index.cfm?page_id=52http://www.lbma.org.uk/pages/index.cfm?page_id=52http://www.banksecrets.eu/#/nl/Bankenhttp://www.banksecrets.eu/#/nl/Bankenhttp://www.banksecrets.eu/#/nl/Bankenhttp://www.goldfixing.com/goldfixing.pdfhttp://www.goldfixing.com/goldfixing.pdfhttp://www.goldfixing.com/goldfixing.pdfhttp://www.standaard.be/cnt/dmf20120701_00207434http://www.standaard.be/cnt/dmf20120701_00207434http://www.standaard.be/cnt/dmf20120701_00207434http://online.wsj.com/news/articles/SB10001424127887324077704578358381575462340http://online.wsj.com/news/articles/SB10001424127887324077704578358381575462340http://online.wsj.com/news/articles/SB10001424127887324077704578358381575462340http://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_markethttp://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_markethttp://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_markethttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_markethttp://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_markethttp://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_markethttp://www.lbma.org.uk/assets/Alch68GoldPrice.pdfhttp://www.lbma.org.uk/assets/Alch68GoldPrice.pdfhttp://www.lbma.org.uk/assets/Alch68GoldPrice.pdfhttp://www.lbma.org.uk/assets/Alch68GoldPrice.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_markethttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=3&title=the_london_markethttp://online.wsj.com/news/articles/SB10001424127887324077704578358381575462340http://www.standaard.be/cnt/dmf20120701_00207434http://www.goldfixing.com/goldfixing.pdfhttp://www.banksecrets.eu/#/nl/Bankenhttp://www.lbma.org.uk/pages/index.cfm?page_id=52


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http://www.lbma.org.uk/pages/index.cfm?page_id=50&title=clearing_-_statistical_table,maar deze

onderschatten de werkelijke kwantiteiten. The figures differ fundamentally in nature from volumefigures published by exchanges. Unlike those figures, London clearing statistics do not measure

individual transactions; they measure the metal that is transferred from one clearing account to

another on a net basis. Two counterparts[dat zijn de eigenlijke kopers en verkopers, en niet (enkel)

de banken die lid zijn van de London Precious Metals Clearing Limitedte onderscheiden van deleden van de London Gold Fixing Limited] may buy and sell from each other many times over thecourse of a day, but upon close of business, only the net ounces that one owes the other are

transferred from one clearing account to the other. For example, if the one participant buys and then

sells 10,000 ounces of gold with the same counterpart for the same value date, although 20,000

ounces of gold have traded, there will be no movement of metal, and no impact on the clearing

statistics (http://www.lbma.org.uk/assets/alch32_clear.pdf)Het is dus een nettoresultaat. Destatistieken meten ook niet de Allocations between clearerswhere the sole purpose is for overnightcredit noch Physical movements arranged by clearers in locations other than London.(http://www.lpmcl.com/)Verscheidene multiplicators (maal zoveel) circuleren betreffende het

werkelijke totaal. De beste is waarschijnlijk de enquete van LBMA-leden, die stelt that there is an

approximately ten to one ratio between the turnover figures and the clearing statistics(http://www.lbma.org.uk/assets/Loco_London_Liquidity_Surveyrv.pdf). Als de kwartaalresultatenvan de Liquidity Survey worden gextroleerd naar heel 2011, komt men op 43 775 704 000 Troy oz

of 1 361 576 ton en 575.50kg (http://www.lbma.org.uk/assets/Alch68GoldPrice.pdf). Accordingly, ina trade purchase or sale of bullion, the counter-value will require a sale or purchase of currency, the

US Dollar being the most frequently used currency, representing at least 95% of the market for Loco

London trading, in normal circumstances. (http://www.lpmcl.com/ onder About clearing).

De Gold Anti-Trust Organization (http://en.wikipedia.org/wiki/Gold_Anti-Trust_Action_Committee),

maakt hier een punt van. De statistieken zijn zo hoog dat het vermoeden bestaat dat er aan een

vorm van fractional reserve bankinggedaan wordt, waarbij er op papier meer goud verhandeltwordt dan dat er zich werkelijk in de kluizen bevindt. De analogie van een bank runis dat zij alsiedereen hun goud wil komen ophalen, er niet genoeg voor iedereen is (en men dan uitbetaald wordt

in cash). Hiermee consistent is het bestaan en definitie van unallocated [bullion] account: Anaccount where specific bars are not set aside and the customer has a general entitlement to the

metal. This is the most convenient, cheapest and most commonly used method of holding metal. The

holder is an unsecured creditor. (http://www.lbma.org.uk/assets/OTCguide20081117.pdf,cursivering

door mij). Ik wil er echter nog voor waarschuwen dat de auteurs het soort volk zijn dat gelooft er

minder goud in Ford Knox ligt dan de Amerikaanse overheid zegt, kapitalisme zonder staat mogelijk

en wenselijk is, dat goud geld is, mensen zijn van nature zelfzuchtig etc. Hun doelen zijn tegengesteld

aan de onze: ze vinden dat de goudprijs hoger moet liggen.

Een parallel argument kan je maken voor de handel in afgeleide financile producten. Een derivaatof een (van een ander product) afgeleid financieel product, bekend geworden door de bankencrisis

van 2008, is A financialinstrument derived from a cash market commodity, futures contract, orother financial instrument. Derivatives can be traded on regulated exchange markets or over-

thecounter. (http://www.lbma.org.uk/assets/OTCguide20081117.pdf). Vaak wordt er uitbetaald incash in plaats van fysiek goud: de virtuele goudmarkt is groter dan de werkelijke. Zo ontstaat een erg

liquide markt (zie vraag -Heeft het goud IN BANKEN nog nut voor de stabiliteit van de munt en deeconomie van het land?), een markt waarin je gemakkelijk je goud kan slijten. Als er meer meergeshort (speculeren op prijsdalingendoor middel van future/forwardcontracten) dan longgegaanwordt, zou dit een neerwaartse druk op de goudprijs betekenen.

(http://www.gold.org/download/pub_archive/pdf/Gold%2520Derivatives%2520The%2520market%2

520impact.pdf). Maar of we dan derivaten moeten vieren, dat is een meer complexe kwestie dan

louter het effect op de goudprijs. (Beginnende) mijnbedrijven kunnen zich hedgen doortoekomstige, heden onbestaande, productie te beloven (accelerated supply) en er in tussentijd
http://www.lbma.org.uk/pages/index.cfm?page_id=50&title=clearing_-_statistical_tablehttp://www.lbma.org.uk/pages/index.cfm?page_id=50&title=clearing_-_statistical_tablehttp://www.lbma.org.uk/assets/alch32_clear.pdfhttp://www.lbma.org.uk/assets/alch32_clear.pdfhttp://www.lbma.org.uk/assets/alch32_clear.pdfhttp://www.lpmcl.com/http://www.lpmcl.com/http://www.lpmcl.com/http://www.lbma.org.uk/assets/Loco_London_Liquidity_Surveyrv.pdfhttp://www.lbma.org.uk/assets/Loco_London_Liquidity_Surveyrv.pdfhttp://www.lbma.org.uk/assets/Loco_London_Liquidity_Surveyrv.pdfhttp://www.lbma.org.uk/assets/Alch68GoldPrice.pdfhttp://www.lbma.org.uk/assets/Alch68GoldPrice.pdfhttp://www.lbma.org.uk/assets/Alch68GoldPrice.pdfhttp://www.lpmcl.com/http://www.lpmcl.com/http://www.lpmcl.com/http://en.wikipedia.org/wiki/Gold_Anti-Trust_Action_Committeehttp://en.wikipedia.org/wiki/Gold_Anti-Trust_Action_Committeehttp://en.wikipedia.org/wiki/Gold_Anti-Trust_Action_Committeehttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.gold.org/download/pub_archive/pdf/Gold%2520Derivatives%2520The%2520market%2520impact.pdfhttp://www.gold.org/download/pub_archive/pdf/Gold%2520Derivatives%2520The%2520market%2520impact.pdfhttp://www.gold.org/download/pub_archive/pdf/Gold%2520Derivatives%2520The%2520market%2520impact.pdfhttp://www.gold.org/download/pub_archive/pdf/Gold%2520Derivatives%2520The%2520market%2520impact.pdfhttp://www.gold.org/download/pub_archive/pdf/Gold%2520Derivatives%2520The%2520market%2520impact.pdfhttp://www.gold.org/download/pub_archive/pdf/Gold%2520Derivatives%2520The%2520market%2520impact.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://en.wikipedia.org/wiki/Gold_Anti-Trust_Action_Committeehttp://www.lpmcl.com/http://www.lbma.org.uk/assets/Alch68GoldPrice.pdfhttp://www.lbma.org.uk/assets/Loco_London_Liquidity_Surveyrv.pdfhttp://www.lpmcl.com/http://www.lbma.org.uk/assets/alch32_clear.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=50&title=clearing_-_statistical_table


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projectfinanciering voor te krijgen. In periodes van lage goudprijs, kunnen (reeds producerende)

mijnbedrijven met zulke future/forwardcontracten een graad van zekerheid verkrijgen door dus

toekomstige productie al te verkopen aan een geschatte prijs op een bepaalde datum. (Als je meer

wil weten over de vele, vaak moeilijk te begrijpen, manieren waarop goud verhandelt wordt, leeshttp://www.lbma.org.uk/assets/OTCguide20081117.pdfen ook het stuk Ways to access the gold

market inhttp://www.gold.org/download/rs_archive/wgc_investors_guide_to_the_gold_market_Europe_english.pdf.)

1. De LBMA is een lobbyorganisatie. The London Bullion Market Association [was] founded torepresent the interests of the members of the wholesale bullion market."

(http://www.goldfixing.com/goldfixing.pdf)The LBMA is the London-based trade association thatrepresents the wholesale gold and silver bullion market in London. London is the focus of the

international Over-the-Counter (OTC) market for gold and silver, with a client base that includes the

majority of the central banks that hold gold, plus producers, refiners, fabricators and other traders

throughout the world."

(http://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbma)"The problem is thatthe dealers are concerned with wholesale order sizes and few will open accounts for private

individuals, and in any case the settlement condition is the London Good Delivery bar. At 400 ounces

these are too rich for most private buyers." (http://gold.bullionvault.com/How/GoldFix)BullionVault, Ordinary Member van de LBMA, wil je wel helpen maar dan moetje nog steeds zo'nstaaf kunnen financieren. (Als de prijs 1200 euro per ons is, dan maakt dit al 48 000 euro: geen

democratische prijs.)

De LBMA aanvaard enkel goud van refiners (bedrijven die bv. mijnproductie of oude juwelenomsmelten tot zuiver goud) die aan bepaalde voorwaarden voldoen. Historically, the members ofthe London bullion market compiled lists of accredited melters and assayers whose gold and silver

bars they would accept without question in settlement against transactions conducted between each

other and with other acceptable counterparts. Such bars earned the distinction of London Good

Delivery status.http://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_deliveryTheLBMA Good Delivery List is now widely recognised as representing the de facto standard for the

quality of gold and silver bars, in large part thanks to the stringent criteria for assaying standards and

bar quality that an applicant must satisfy in order to be listed. The assaying capabilities of refiners on

the Good Delivery List are periodically checked under the LBMA's Proactive Monitoring programme.(http://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_delivery)Dat moet er in de eerste

plaats voor zorgen dat handelaars niet telkens moeten testen of het wel echt is. Maar als je vraagt de

staaf mee naar huis te nemen en vervolgens weer wilt verkopen, zal men, ondanks die

kwaliteitsstempel, het toch weer testen.

Ook is het relevant op te merken dat de LBMA het voldoen aan de Responsible Gold Guidance

(http://www.lbma.org.uk/assets/RGG20130118.pdf)als voorwaarde heeft gesteld om op die lijst te

staan. Het is net zoals de Conflict-Free Gold Standard een antwoord van de industrie op de OESO Due

Dilligence-richtlijnen en V.S. Dodd Franklegislatie, die ervoor moeten zorgen dat goud geen conflict

financieert (in de eerste plaats in de buurt van Congo). Hoe dat (financieren) gebeurt zie je op

http://www.enoughproject.org/reports/child-miner-jewelry-store-six-steps-congos-conflict-goldAls

je de eigenlijke voorwaarden naleest en doordenkt, kan je best veel punten van kritiek ontwaren (zie

ook De Conflict-Free Gold Standard van een falende naar een sluitende aanpak - Jan De ClercqGEFINALISEERD).

*T+he leading player in coordinating this response*to the Dodd Frank Act+ has in reality been theLBMA, zegt de voorzitter van het managementcommittee(http://www.lbma.org.uk/assets/DG_AGM_Speech_20130619.pdf )Ruth Crowell, the LBMAs
http://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.gold.org/download/rs_archive/wgc_investors_guide_to_the_gold_market_Europe_english.pdfhttp://www.gold.org/download/rs_archive/wgc_investors_guide_to_the_gold_market_Europe_english.pdfhttp://www.gold.org/download/rs_archive/wgc_investors_guide_to_the_gold_market_Europe_english.pdfhttp://www.goldfixing.com/goldfixing.pdfhttp://www.goldfixing.com/goldfixing.pdfhttp://www.goldfixing.com/goldfixing.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbmahttp://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbmahttp://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbmahttp://gold.bullionvault.com/How/GoldFixhttp://gold.bullionvault.com/How/GoldFixhttp://gold.bullionvault.com/How/GoldFixhttp://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_deliveryhttp://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_deliveryhttp://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_deliveryhttp://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_deliveryhttp://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_deliveryhttp://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_deliveryhttp://www.lbma.org.uk/assets/RGG20130118.pdfhttp://www.lbma.org.uk/assets/RGG20130118.pdfhttp://www.lbma.org.uk/assets/RGG20130118.pdfhttp://www.enoughproject.org/reports/child-miner-jewelry-store-six-steps-congos-conflict-goldhttp://www.enoughproject.org/reports/child-miner-jewelry-store-six-steps-congos-conflict-goldhttp://www.lbma.org.uk/assets/DG_AGM_Speech_20130619.pdfhttp://www.lbma.org.uk/assets/DG_AGM_Speech_20130619.pdfhttp://www.lbma.org.uk/assets/DG_AGM_Speech_20130619.pdfhttp://www.lbma.org.uk/assets/DG_AGM_Speech_20130619.pdfhttp://www.enoughproject.org/reports/child-miner-jewelry-store-six-steps-congos-conflict-goldhttp://www.lbma.org.uk/assets/RGG20130118.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_deliveryhttp://www.lbma.org.uk/pages/index.cfm?page_id=4&title=good_deliveryhttp://gold.bullionvault.com/How/GoldFixhttp://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbmahttp://www.goldfixing.com/goldfixing.pdfhttp://www.gold.org/download/rs_archive/wgc_investors_guide_to_the_gold_market_Europe_english.pdfhttp://www.gold.org/download/rs_archive/wgc_investors_guide_to_the_gold_market_Europe_english.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdf


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Deputy Chief Executive also acted as the co-facilitator of the OECD Gold Supplement Drafting

Committee and the OECD Interim Governance Group. All of the organisations listed above have also

supported and been involved in the work of the OECD Due Diligence GuidanceGold Supplement. This is in order to ensure that all these emerging initiatives work in concert

towards a common goal of reducing the violence and human rights abuses funded by conflict

minerals. (http://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdf)De dag net voor de laatsteOESO-vergadering, organiseerde de LBMA zelf een conferentie

(http://lbma.org.uk/pages/index.cfm?page_id=145&title=responsible_gold_forum_2012). Op de

OESO-conferentie zelf, spraken zowel Ruth Crowell als Steward Murray, de CEO van de LBMA

(http://www.oecd.org/daf/inv/mne/forumonduediligenceinthegoldsupply-chain.htm). Zowel Gemma

Cartwright van de Fairtrade Labeling Organization (FLO) als Lina Villa en Patrick Schein van de

Alliance for Responsible Mining (ARM) waren aanwezig

(http://www.lbma.org.uk/assets/DelegateListWebVersion20120430.pdf)The LBMA recognises andsupports the Fairtrade Fairmined standard.(http://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdf)Maar verder ben ik niets

tegengekomen dat een al te nauwe relatie tussen FLO of ARM met de LBMA aantoont. Nog relevant

om op te merken is dat 4 mensen van het Belgische IPIS aanwezig waren (Anna Bulzomi, Evie Francq,Gabriel Kamundala en Ken Matthysen).

n van de The main aims of the Public Affairs Committee *is+ to provide opportunities for debateand social interaction among market participants.(http://www.lbma.org.uk/pages/index.cfm?page_id=61)Involvement in the cultural and educationallife of the Association, including invitations to events such as receptions, dinners, seminars and social

events (http://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefits)

Wie reguleert de LBMA? The LBMA was formally incorporated in 1987 at the behestof the Bank ofEngland, which was the bullion market's regulator at that time. The Prudential RegulationAuthority ("PRA") at the Bank of England is now responsible for prudential banking regulation of

most of the financial firms that are active in the bullion market. The PRA works closely with the

Financial Conduct Authority (FCA) which is responsible for consumer and competition issues.(http://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbma,cursivering door mij)

Dus de commercile LBMA werd gevormd op initiatief van de Engelse centrale bank, die vervolgens

voor het toezicht instaat. (Voor de voorgeschiedenis van de LBMA en de relatie van de Bank of

England met London Gold Fixing Ltd., ziehttp://www.lbma.org.uk/assets/Alch6501Harvey.pdf)

The LBMA is also privileged[sic] in having observers from both the Bank of England and the FCA onthe Management Committee.(http://www.lbma.org.uk/assets/DG%20AGM%20Speech%2020130619.pdf )Het LBMA-kantoor

bevindt zich midden in Londonse city

(https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+Lon

don,+United+Kingdom&hl=en&ll=51.513787,-

0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+b

ullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+Londo

n,+United+Kingdom&filter=0&update=1&z=20)Om de hoek heb je bijvoorbeeld al de Bank of

England. Dan is het gemakkelijk om informeel te overleggen. Enerzijds kan je zeggen dat die mensen

er zijn om een oogje in de gaten te houden, anderzijds is er wel nogal wat personeelsverloop tussen

de twee instellingen (zie bv. de profielen hieronder); wat anti-lobbyactivisten de Revolving Doornoemen. Ook gebruikt men de kluizen van de Engelse central bank: Additionally, for gold, accountfacilities for allocated metal at the Bank of England are used.Dat is belangenvermenging tussenregulator en gereguleerde.
http://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdfhttp://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdfhttp://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdfhttp://lbma.org.uk/pages/index.cfm?page_id=145&title=responsible_gold_forum_2012http://lbma.org.uk/pages/index.cfm?page_id=145&title=responsible_gold_forum_2012http://lbma.org.uk/pages/index.cfm?page_id=145&title=responsible_gold_forum_2012http://www.oecd.org/daf/inv/mne/forumonduediligenceinthegoldsupply-chain.htmhttp://www.oecd.org/daf/inv/mne/forumonduediligenceinthegoldsupply-chain.htmhttp://www.oecd.org/daf/inv/mne/forumonduediligenceinthegoldsupply-chain.htmhttp://www.lbma.org.uk/assets/DelegateListWebVersion20120430.pdfhttp://www.lbma.org.uk/assets/DelegateListWebVersion20120430.pdfhttp://www.lbma.org.uk/assets/DelegateListWebVersion20120430.pdfhttp://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdfhttp://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdfhttp://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=61http://www.lbma.org.uk/pages/index.cfm?page_id=61http://www.lbma.org.uk/pages/index.cfm?page_id=61http://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbmahttp://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbmahttp://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbmahttp://www.lbma.org.uk/assets/Alch6501Harvey.pdfhttp://www.lbma.org.uk/assets/Alch6501Harvey.pdfhttp://www.lbma.org.uk/assets/Alch6501Harvey.pdfhttp://www.lbma.org.uk/assets/DG%20AGM%20Speech%2020130619.pdfhttp://www.lbma.org.uk/assets/DG%20AGM%20Speech%2020130619.pdfhttp://www.lbma.org.uk/assets/DG%20AGM%20Speech%2020130619.pdfhttps://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)https://maps.google.be/maps?q=London+Bullion+Market+Association+(LBMA),+Change+Alley,+London,+United+Kingdom&hl=en&ll=51.513787,-0.086351&spn=0.000517,0.000862&sll=51.08244,3.714485&sspn=0.267006,0.441513&oq=london+bullion+market&t=h&hq=London+Bullion+Market+Association+(LBMA),&hnear=Change+Alley,+London,+United+Kingdom&filter=0&update=1&z=20)http://www.lbma.org.uk/assets/DG%20AGM%20Speech%2020130619.pdfhttp://www.lbma.org.uk/assets/Alch6501Harvey.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=9&title=about_the_lbmahttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=61http://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdfhttp://www.lbma.org.uk/assets/DelegateListWebVersion20120430.pdfhttp://www.oecd.org/daf/inv/mne/forumonduediligenceinthegoldsupply-chain.htmhttp://lbma.org.uk/pages/index.cfm?page_id=145&title=responsible_gold_forum_2012http://www.lbma.org.uk/assets/LBMA_Brochure_201304.pdf


6/24

As far as the London bullion market is concerned, regulation falls under two categories, thecompanies involved and the market itself. Responsibility for the regulation of the major participants

in the London bullion market lies with the Financial Services Authority (FSA) (website:

www.fsa.gov.uk) under the Financial Services and Markets Act 2000. Conduct of business in theLondon bullion market however falls under two jurisdictions dictated by the type of business. The

FSA is responsible for investment business as defined under the Act, which, for the bullion market,covers derivatives. The requirements upon firms in their dealings with market professionals are setout in MiFID, the Markets in Financial Instruments Directive, which became effective on 1 November

2007. For spot, forwards and deposits in gold and silver, which are not covered by the Act, guidelines

for the conduct of business are set out in The London Code of Conduct for Non-Investment Products,

the NIPs code. This code has been drawn up by market practitionersrepresenting the foreign

exchange, money and bullion markets inconjunction with the Bank of England. It sets out the

standards of conduct and professionalism expected between market practitioners with each other

and with their clients.(http://www.lbma.org.uk/assets/OTCguide20081117.pdf,cursivering doormij)

Men heeft er ook voor gezorgd dat er geen belastingen moeten worden betaald: From 1 January2000, investment gold became exempt for VAT purposes in the United Kingdom in line with the ECCouncil Directive 98/80 ECSpecial scheme for investment gold. However, under the revised VATlegislation, LBMA members will continue to zero-rate supplies of investment gold between

themselves and enjoy the benefit of reduced documentation requirements. Supplies of investment

gold between LBMA members and UK VAT-registered entities will be covered by the SpecialAccounting Scheme for Gold. Within the UK, non-investment gold continue[s] to fall under thescope of the Terminal Markets Order and an agreement reached between the Commissioners of HM

Customs & Excise and the LBMA. The resulting trading arrangements are often referred to as the

Black Box. In brief, sales between a member and a non-member are zero-rated provided themember retains effective physical control of the metal or the member ships it outside the UK on

behalf of the non-member. (http://www.lbma.org.uk/pages/index.cfm?page_id=22&title=taxation)(Voor meer over deze en andere wetgeving, zie vraag - Welke stimulerende verdragen en wetgevingbestaan er m.b.t. investeringen in goud.)

2. Vooraleer we nagaan wie links heeft met wie, is het best om eerst uit te zoeken wie van tel is en

wie niet. De LBMA bestaat uit een professionele Executive, een Management Committee en

verscheidene gespecialiseerde committees (Physical, Public Affairs, Finance, Regulatory Affairs and

Membership) (http://www.lbma.org.uk/pages/index.cfm?page_id=61&title=committees )

(Ordinary) Members (inclusief Market Making Members) mogen stemmen op de jaarlijkse algemene

vergadering wanneer de leden van de committees worden verkozen en kunnen ook nieuwe leden

voordragen, Associates niet.

(http://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefits)Generallyspeaking, UK-based companies that are directly involved in the market are expected to apply to

become Members (http://www.lbma.org.uk/pages/index.cfm?page_id=65&title=joining_the_lbma).

What is the difference between a Market Maker and a [Ordinary] Member? Market Makers mustquote each other in the chosen product categories (any combination of spot, options and forwards)

in both gold and silver throughout the London business day.(http://www.lbma.org.uk/pages/index.cfm?page_id=65)Hierbij is het goed om te weten dat

Dealings may be conducted eithervia the two way bid and offer market which is available fromMarket Makers of the LBMA .. throughout the London trading day or at the daily London Gold Fixings (http://www.lbma.org.uk/assets/OTCguide20081117.pdf). Market Makers of the LBMA offer two-way spread in precious metals to their clients and to other Market Makers during thetrading day. They thus provide the dealing liquidity upon which the markets are based and through

which client trades are absorbed into the market. For example, in making a gold price, the dealer
http://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=22&title=taxationhttp://www.lbma.org.uk/pages/index.cfm?page_id=22&title=taxationhttp://www.lbma.org.uk/pages/index.cfm?page_id=22&title=taxationhttp://www.lbma.org.uk/pages/index.cfm?page_id=61&title=committeeshttp://www.lbma.org.uk/pages/index.cfm?page_id=61&title=committeeshttp://www.lbma.org.uk/pages/index.cfm?page_id=61&title=committeeshttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=65&title=joining_the_lbmahttp://www.lbma.org.uk/pages/index.cfm?page_id=65&title=joining_the_lbmahttp://www.lbma.org.uk/pages/index.cfm?page_id=65&title=joining_the_lbmahttp://www.lbma.org.uk/pages/index.cfm?page_id=65http://www.lbma.org.uk/pages/index.cfm?page_id=65http://www.lbma.org.uk/pages/index.cfm?page_id=65http://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=65http://www.lbma.org.uk/pages/index.cfm?page_id=65&title=joining_the_lbmahttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=61&title=committeeshttp://www.lbma.org.uk/pages/index.cfm?page_id=22&title=taxationhttp://www.lbma.org.uk/assets/OTCguide20081117.pdf


7/24

may quote $695.50$696.00, where $695.50 represents the bid price the dealer will pay for goldand $696.00, the offer price at which the dealer sells gold. The size of the spreadthe differencebetween bid and offeris dependent on market volatility and transaction size, among other factors.(http://www.lbma.org.uk/assets/OTCguide20081117.pdf)Voor een bespreking van de handel tijdens

het vaststellen van de goudprijs, zie de vraag -Hoe wordt deze prijs berekend ?Net zoals in die

vraag wordt aangehaald, bestaat het gevaar van kartelafspraken met betrekkig tot n of meerderevan de verschillende productcategorin. De LIBOR-rente werd gemanipuleerd, waardoor de goldlease ratewerd geaffecteerd. De verschillende goudindicatoren staan ook niet los van elkaar: als degoudprijs stijgt, heeft dit effect op goudfutures enoptiecontracten en dat heeft vervolgens invloedop die leaserate.

De Market Making Members zijn

http://www.lbma.org.uk/pages/index.cfm?page_id=62&title=market-making_members

De ledenlijst, inclusief de Market Making Members, vind je op

http://www.lbma.org.uk/pages/index.cfm?page_id=63&title=ordinary_members.

De lijst van Associates vind je op

http://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitsDan is er nog de lijst van de goedgekeurde refiners:

http://www.lbma.org.uk/pages/index.cfm?page_id=147&title=good_delivery_lists

2. In wat volgt maak ik profielen op met wat mij het meest bruikbaar lijkt. Je kan meer info

achterhalen door op de links te klikken. Als je enkel op naam zoekt, vind je vaak niets of teveel info.

Maar als je daar dan nog wat extra info aan toevoegt, vind je weer meer info, waarna je de zoektocht

kan verder zetten. Ter illustratie: als een linkedinprofiel anoniem is, maar er staat wel info die

overeen komt met wat je al wist, dan kan je ervan uitgaan dat dit het juiste profiel is.

+++ De werknemers van de organisatie

(http://www.lbma.org.uk/pages/index.cfm?page_id=92&title=lbma_executive):

Stewart Murray

(http://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authTok

en=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=

vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtarge

tId%3A232407416%2CVSRPcmpt%3Aprimary )

Chief Executive, London Bullion Market Association

He then joined Consolidated Gold Fields where he was responsible for the group's base metals

commodities research. In 1989, Dr Murray set up Gold Fields Mineral Services (GFMS) of which he

was Chief Executive for the next nine years.

Eind 2013 trapt hij het daar af (http://uk.finance.yahoo.com/news/lbma-ceo-stewart-murray-retire-

093951758.html)en ik vermoed dat Ruth Crowell hem zal opvolgen, omdat zij voorheen Commerical

Director was en nu Deputy Chief Executive.
http://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/assets/OTCguide20081117.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=62&title=market-making_membershttp://www.lbma.org.uk/pages/index.cfm?page_id=62&title=market-making_membershttp://www.lbma.org.uk/pages/index.cfm?page_id=63&title=ordinary_membershttp://www.lbma.org.uk/pages/index.cfm?page_id=63&title=ordinary_membershttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=147&title=good_delivery_listshttp://www.lbma.org.uk/pages/index.cfm?page_id=147&title=good_delivery_listshttp://www.lbma.org.uk/pages/index.cfm?page_id=92&title=lbma_executivehttp://www.lbma.org.uk/pages/index.cfm?page_id=92&title=lbma_executivehttp://www.lbma.org.uk/pages/index.cfm?page_id=92&title=lbma_executivehttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://uk.finance.yahoo.com/news/lbma-ceo-stewart-murray-retire-093951758.htmlhttp://uk.finance.yahoo.com/news/lbma-ceo-stewart-murray-retire-093951758.htmlhttp://uk.finance.yahoo.com/news/lbma-ceo-stewart-murray-retire-093951758.htmlhttp://uk.finance.yahoo.com/news/lbma-ceo-stewart-murray-retire-093951758.htmlhttp://uk.finance.yahoo.com/news/lbma-ceo-stewart-murray-retire-093951758.htmlhttp://uk.finance.yahoo.com/news/lbma-ceo-stewart-murray-retire-093951758.htmlhttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=232407416&authType=NAME_SEARCH&authToken=tePb&locale=en_US&srchid=1575345121381332300320&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332300320%2CVSRPtargetId%3A232407416%2CVSRPcmpt%3Aprimaryhttp://www.lbma.org.uk/pages/index.cfm?page_id=92&title=lbma_executivehttp://www.lbma.org.uk/pages/index.cfm?page_id=147&title=good_delivery_listshttp://www.lbma.org.uk/pages/index.cfm?page_id=66&title=membership_benefitshttp://www.lbma.org.uk/pages/index.cfm?page_id=63&title=ordinary_membershttp://www.lbma.org.uk/pages/index.cfm?page_id=62&title=market-making_membershttp://www.lbma.org.uk/assets/OTCguide20081117.pdf


8/24

Ruth Crowellhttp://www.linkedin.com/pub/ruth-crowell/21/256/451

Deputy Chief Executive

(voorheen Commercial Director)

acted as a monitor at the UN Commission on Human Rights in Geneva.

Intern for UN Commission on Human Rights at United Nations Watch

(Dissertation on Modern Slavery - Distinction Received. Coursework in International History of the

Twentieth Century, The Rise and Fall of Communism in Europe, Sex, Race & Slavery the Western

Experience)

Ruth acts as the LBMA's main contact for regulatory affairs. She is responsible for the Association's

work on supply chain due diligence, especially with regard to the Responsible Gold Guidance. She

also represents the Association at industry, governmental and multi-stakeholder regulatory forums.
http://www.linkedin.com/pub/ruth-crowell/21/256/451http://www.linkedin.com/pub/ruth-crowell/21/256/451http://www.linkedin.com/pub/ruth-crowell/21/256/451http://www.linkedin.com/pub/ruth-crowell/21/256/451


9/24

Most recently she served as the co-facilitator of the OECD Interim Governance Group as well as the

co-facilitator of the Gold Supplement Drafting Committee.

http://www.facebook.com/crowellr

Goede doelen die ze steunt: "Mississippi First" (http://www.facebook.com/MississippiFirst)en

"Crawfish For Cancer" (http://crawfishforcancer.qrickets.com/)

Stuart Playfordhttp://www.linkedin.com/pub/stuart-playford/23/381/279
http://www.facebook.com/crowellrhttp://www.facebook.com/crowellrhttp://www.facebook.com/MississippiFirsthttp://www.facebook.com/MississippiFirsthttp://www.facebook.com/MississippiFirsthttp://crawfishforcancer.qrickets.com/http://crawfishforcancer.qrickets.com/http://crawfishforcancer.qrickets.com/http://www.linkedin.com/pub/stuart-playford/23/381/279http://www.linkedin.com/pub/stuart-playford/23/381/279http://www.linkedin.com/pub/stuart-playford/23/381/279http://www.linkedin.com/pub/stuart-playford/23/381/279http://crawfishforcancer.qrickets.com/http://www.facebook.com/MississippiFirsthttp://www.facebook.com/crowellr


10/24

Operations Director

Prior to joining the LBMA, Stuart was the Operations Manager at Triland Metals Ltd in London. *

Management of Back Office Support team to Base and Precious Metal Traders

* Triland is een "ordinary member" van de LBMA.

http://www.facebook.com/stuart.playford1?sk=info

(Voorheen: "remove the group (soldiers are not heros) off of facebook"

http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.causes.com%2Fcauses%2F419869&h=wA

QEcDXF0)

Aelred Connelly
http://www.facebook.com/stuart.playford1?sk=infohttp://www.facebook.com/stuart.playford1?sk=infohttp://www.facebook.com/l.php?u=http%3A%2F%2Fwww.causes.com%2Fcauses%2F419869&h=wAQEcDXF0http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.causes.com%2Fcauses%2F419869&h=wAQEcDXF0http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.causes.com%2Fcauses%2F419869&h=wAQEcDXF0http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.causes.com%2Fcauses%2F419869&h=wAQEcDXF0http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.causes.com%2Fcauses%2F419869&h=wAQEcDXF0http://www.facebook.com/stuart.playford1?sk=info


11/24

Public Relations Officer

Aelred provides support to the Commercial Director in the administration and organisation of the

Associations Public Affairs. This includes primary responsibility for all publications, websites, as wellas interaction with the press. It also includes acting as the editor for the LBMAs quarterly

publication, the Alchemist.

Prior to joining the LBMA, Aelred worked at the Bank of England for more than twenty five years.

During the last five years of his career at the Bank he gained specific bullion market experience in his

role as a Gold Bullion analyst, supporting senior management in the Banks Customer BankingDivision. He previously acted as a relationship manager for a portfolio of the Banks customersincluding central banks and government departments. During his time at the Bank he studied part-

time for a BA Honours degree in Business Studies, gaining a 2:1:

Aelred was dus een werknemer van de Bank of England en de LBMA kent iets dat een secondmentheet (n*oun+ (Business / Industrial Relations & HR Terms) Brit a temporary transfer to another job or

post within the same organization of 2. secondment - the detachment of a person from theirregular organization for temporary assignment elsewhere,http://thefreedictionary.com/secondment)Hij is schijnbaar via die tussenstop overgestapt naar de

LBMA. (http://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdf,

http://www.lbma.org.uk/assets/Alch6607Murray.pdf)

Dit is relevant omdat de Bank of England de regulator is. Een geval van de revolving door tussenindustrie en politiek.

Colett Roberts

Bookkeeper/Events Coordinator (Voorheen: Bookkeeper/Administrator)

http://www.linkedin.com/profile/view?id=115621308&authType=name&authToken=nq3Q&trk=prof

-sb-browse_map-name

Er zijn 2 facebook profielen met die naam en op basis van de fotos kan ik niet uitmaken welke het nuis (of geen van beide) Misschien dat iemand anders betere ogen heeft?

(1)https://www.facebook.com/collette.roberts.3
http://thefreedictionary.com/secondmenthttp://thefreedictionary.com/secondmenthttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://www.lbma.org.uk/assets/Alch6607Murray.pdfhttp://www.lbma.org.uk/assets/Alch6607Murray.pdfhttp://www.linkedin.com/profile/view?id=115621308&authType=name&authToken=nq3Q&trk=prof-sb-browse_map-namehttp://www.linkedin.com/profile/view?id=115621308&authType=name&authToken=nq3Q&trk=prof-sb-browse_map-namehttp://www.linkedin.com/profile/view?id=115621308&authType=name&authToken=nq3Q&trk=prof-sb-browse_map-namehttps://www.facebook.com/collette.roberts.3https://www.facebook.com/collette.roberts.3https://www.facebook.com/collette.roberts.3https://www.facebook.com/collette.roberts.3http://www.linkedin.com/profile/view?id=115621308&authType=name&authToken=nq3Q&trk=prof-sb-browse_map-namehttp://www.linkedin.com/profile/view?id=115621308&authType=name&authToken=nq3Q&trk=prof-sb-browse_map-namehttp://www.lbma.org.uk/assets/Alch6607Murray.pdfhttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://thefreedictionary.com/secondment


12/24


13/24

likes Rowing the length of the River Thames for Teenage Cancer Trust, maar dat gebeurd door

militairen en ze is getrouwd met 1:

Maar ze wonen bij Liverpool en dat is nogal veraf van de Londonse City dus ik zou voor optie (2)

gaan:

(2)http://www.facebook.com/profile.php?id=586525779

Netwerken

LSB UK

http://www.facebook.com/group.php?gid=13310415202

LSBU in top ten for graduate starting salaries for third year running

London South Bank University (LSBU) graduates are among the highest earning graduates in the

country enjoying starting salaries of 22,255 on average according to this years Sunday TimesUniversity Guide. [etcetera]

Maar die is dan ook lid van de groep OCCUPY PARLAMENTO

(https://www.facebook.com/groups/361615570531039/ )dus tegen de 1% rijken (voor wie goud een

instrument is), wat me zou verbazen
http://www.facebook.com/profile.php?id=586525779http://www.facebook.com/profile.php?id=586525779http://www.facebook.com/profile.php?id=586525779http://www.facebook.com/group.php?gid=13310415202http://www.facebook.com/group.php?gid=13310415202https://www.facebook.com/groups/361615570531039/https://www.facebook.com/groups/361615570531039/https://www.facebook.com/groups/361615570531039/https://www.facebook.com/groups/361615570531039/http://www.facebook.com/group.php?gid=13310415202http://www.facebook.com/profile.php?id=586525779


14/24

Rebecca Adamson

http://www.linkedin.com/profile/view?id=116564354&authType=NAME_SEARCH&authToke

n=lP9K&locale=en_US&srchid=1575345121381332526106&srchindex=1&srchtotal=1&trk=vs

rp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332526106%2CVSRPtargetI

d%3A116564354%2CVSRPcmpt%3Aprimary

Good Delivery List Assistant

Assisted in the implementation of key regulation related to the US Dodd Frank Act on supply chain duediligence, ensuring that the world's gold producers source conflict free gold.

!? In Augustus 2013 is die het bij LBMA afgetrapt en ze lijkt me een sociaal gengageerd persoon!

Misschien interessant om die eens te polsenZe zal wel een document getekend hebben die haarverbied informatie vrij te geven, maar als je haar anonimiteit garandaart, hoeft dat niet boven water

te komen.

I am now pleased to be able to focus on widening my understanding of applied theatre in regards to

social development and community engagement.

Starts an MA in Applied Theatre at RCSSD in 2013-14, inLondon, towards work as an applied theatre

facilitator working with vulnerable people in the UK and internationally.

Royal Central School of Speech and Drama, U. of LondonMaster of Arts (M.A.),Applied Theatre

20132014 (expected)To investigate applied theatre in a variety of contexts, communities and settings. To explore the fieldsdiverse practices and engage creatively with the forms and aesthetics of applied theatre, thetransformative potential of theatre and the ethics of intervention and notions of inclusive practice whenworking with specific groups. The course will focus on theatre practices that promote inclusion and willaddress the ways in which theatre can be an agent for change, enablement and transformation.

Activities and Societies:Throughout the year I will be looking to work with a variety of individuals and

organisations to gain a deep understanding of the ways applied theatre is delivered in a variety of community

context both in the UK and internationally. I will explore existing practises,e.g. Forum theatre,communityproductions,workshop methodologies,and look to develop a programme which can be implemented in a broadrange of settings and to a diverse range of communities.

Theatre Director and Producer

Theatre

January 2008Present (5 years 10 months)FreelanceCurrently exploring methods for use of theatre as a tool for social change, development and

empowerment of vulnerable people through community engagement, outreach work and

participation projects, both within theatre companies and beyond.

Working primarily with new and contemporary writing. Previously produced and directed new

writing night Bare Bones Nights at the Old Red Lion theatre. Interests are collaboration with writers

and performers during development phase of a play; Exploring the use of mixed media in

performance, in particular sound design and also the projection of film/video; site specific work;

community oriented work.

(Open)1 recommendation

Alexander Rennie

Alexander Rennie

Associate Artist at The Yard Theatre

Volunteer Assistant Facilitator

The Arbour
http://www.linkedin.com/profile/view?id=116564354&authType=NAME_SEARCH&authToken=lP9K&locale=en_US&srchid=1575345121381332526106&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332526106%2CVSRPtargetId%3A116564354%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=116564354&authType=NAME_SEARCH&authToken=lP9K&locale=en_US&srchid=1575345121381332526106&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332526106%2CVSRPtargetId%3A116564354%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=116564354&authType=NAME_SEARCH&authToken=lP9K&locale=en_US&srchid=1575345121381332526106&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332526106%2CVSRPtargetId%3A116564354%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=116564354&authType=NAME_SEARCH&authToken=lP9K&locale=en_US&srchid=1575345121381332526106&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332526106%2CVSRPtargetId%3A116564354%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=116564354&authType=NAME_SEARCH&authToken=lP9K&locale=en_US&srchid=1575345121381332526106&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332526106%2CVSRPtargetId%3A116564354%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/college/?eduSchool=Royal+Central+School+of+Speech+and+Drama%2C+U%2E+of+London&trk=prof-edu-school-namehttp://www.linkedin.com/college/?eduSchool=Royal+Central+School+of+Speech+and+Drama%2C+U%2E+of+London&trk=prof-edu-school-namehttp://www.linkedin.com/college/?eduSchool=Royal+Central+School+of+Speech+and+Drama%2C+U%2E+of+London&trk=prof-edu-school-namehttp://www.linkedin.com/search?search=&keywords=Applied+Theatre&sortCriteria=R&keepFacets=true&trk=prof-edu-field_of_studyhttp://www.linkedin.com/search?search=&keywords=Applied+Theatre&sortCriteria=R&keepFacets=true&trk=prof-edu-field_of_studyhttp://www.linkedin.com/search?search=&keywords=Throughout+the+year+I+will+be+looking+to+work+with+a+variety+of+individuals+and+organisations+to+gain+a+deep+understanding+of+the+ways+applied+theatre+is+delivered+in+a+variety+of+community+context+both+in+the+UK+and+internationally%2E++I+will+explore+existing+practises&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=Throughout+the+year+I+will+be+looking+to+work+with+a+variety+of+individuals+and+organisations+to+gain+a+deep+understanding+of+the+ways+applied+theatre+is+delivered+in+a+variety+of+community+context+both+in+the+UK+and+internationally%2E++I+will+explore+existing+practises&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=Throughout+the+year+I+will+be+looking+to+work+with+a+variety+of+individuals+and+organisations+to+gain+a+deep+understanding+of+the+ways+applied+theatre+is+delivered+in+a+variety+of+community+context+both+in+the+UK+and+internationally%2E++I+will+explore+existing+practises&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=Throughout+the+year+I+will+be+looking+to+work+with+a+variety+of+individuals+and+organisations+to+gain+a+deep+understanding+of+the+ways+applied+theatre+is+delivered+in+a+variety+of+community+context+both+in+the+UK+and+internationally%2E++I+will+explore+existing+practises&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=Throughout+the+year+I+will+be+looking+to+work+with+a+variety+of+individuals+and+organisations+to+gain+a+deep+understanding+of+the+ways+applied+theatre+is+delivered+in+a+variety+of+community+context+both+in+the+UK+and+internationally%2E++I+will+explore+existing+practises&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=e%2Eg%2E+Forum+theatre&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=e%2Eg%2E+Forum+theatre&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=e%2Eg%2E+Forum+theatre&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=community+productions&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=community+productions&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=community+productions&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=community+productions&sortCriteria=R&keepFacets=true&trk=prof-edu-activities_and_societieshttp://www.linkedin.com/search?search=&keywords=workshop+methodologies&sortCriteria=R&keepFacets=true&trk=prof-edu-acti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SRPtargetId%3A116564354%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=116564354&authType=NAME_SEARCH&authToken=lP9K&locale=en_US&srchid=1575345121381332526106&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381332526106%2CVSRPtargetId%3A116564354%2CVSRPcmpt%3Aprimary


15/24

January 2013July 2013 (7 months)Tower HamletsAssisting the facilitation of workshops at The Arbour in Tower Hamlets. We work with migrant

women on the Lead to Inspire programme, a course focusing on leadership skills partly through the

use of drama: e.g. presentation, debate, project management, field trips, role play, use of voice,

public speaking.

During my time I ran voice workshops to draw attention to the use of voice as a tool forempowerment. I directed a performance for diversity day where the group all prepared and

presented a piece about their home country.

Advice for Contacting RebeccaI am about to commence an MA course at Royal Central School of Speech and Drama in Applied Theatre.

During the course I will be looking to gain as much relevant experience as possible in the following areas:

delivery of workshops to vulnerable people; development of community performance; development of

professional performance based on real life stories and issues; international applied theatre projects;

fundraising for projects; specific performance skills, e.g. devising, movement, clowning, voice work, puppetry,

dance.

Er staat ook een interview van haar inhttp://www.lbma.org.uk/assets/Alch68Dayinthelife.pdf

Varsha Peiris

(http://www.facebook.com/profile.php?id=683162353&sk=wall )

Office Manager (Voorheen: Executive Assistant)

Emma Attridge
http://www.lbma.org.uk/assets/Alch68Dayinthelife.pdfhttp://www.lbma.org.uk/assets/Alch68Dayinthelife.pdfhttp://www.lbma.org.uk/assets/Alch68Dayinthelife.pdfhttp://www.facebook.com/profile.php?id=683162353&sk=wallhttp://www.facebook.com/profile.php?id=683162353&sk=wallhttp://www.facebook.com/profile.php?id=683162353&sk=wallhttp://www.facebook.com/profile.php?id=683162353&sk=wallhttp://www.lbma.org.uk/assets/Alch68Dayinthelife.pdf


16/24

(beetje vervormde foto, geknipt uit

http://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdf)

Haar naam staat niet op

http://www.lbma.org.uk/pages/index.cfm?page_id=92&title=lbma_executive,maar wordtvoorgesteld als Acting Good Delivery List Officer op

http://www.lbma.org.uk/pages/index.cfm?page_id=28&title=good_delivery_rulesZe vervangt

waarschijnlijk Rebecca.

Experience

London Bullion Market AssociationGood Delivery List Assistant

London Bullion Market Association

July 2013Present (4 months)London Bullion Market AssociationOffice Administrator

London Bullion Market AssociationApril 2012July 2013 (1 year 4 months)Bank of EnglandProject Analyst

Bank of England

March 2008April 2012 (4 years 2 months)(http://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-

T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_re

s_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2C

VSRPcmpt%3Aprimary)

Net zoals Aalred Connelly, was Emma een werknemer van de Bank of England en de LBMA kent iets

dat een secondment heet (n*oun+ (Business / Industrial Relations & HR Terms) Brit a temporarytransfer to another job or post within the same organization of 2. secondment - the detachment ofa person from their regular organization for temporary assignment elsewhere,http://thefreedictionary.com/secondment)Zij is schijnbaar via die tussenstop overgestapt naar de

LBMA. (http://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdf,

http://www.lbma.org.uk/assets/Alch6607Murray.pdf)

Dit is relevant omdat de Bank of England de regulator is. Opnieuw een geval van de revolving doortussen industrie en politiek.

Natalie King

Evenzeer toevallig op gestoten, omdat Linkedin het mij aanraadde. Ze staat niet op de LBMA-
http://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://www.lbma.org.uk/pages/index.cfm?page_id=92&title=lbma_executivehttp://www.lbma.org.uk/pages/index.cfm?page_id=92&title=lbma_executivehttp://www.lbma.org.uk/pages/index.cfm?page_id=28&title=good_delivery_ruleshttp://www.lbma.org.uk/pages/index.cfm?page_id=28&title=good_delivery_ruleshttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://thefreedictionary.com/secondmenthttp://thefreedictionary.com/secondmenthttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://www.lbma.org.uk/assets/Alch6607Murray.pdfhttp://www.lbma.org.uk/assets/Alch6607Murray.pdfhttp://www.lbma.org.uk/assets/Alch6607Murray.pdfhttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdfhttp://thefreedictionary.com/secondmenthttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://www.linkedin.com/profile/view?id=201092155&authType=NAME_SEARCH&authToken=4B-T&locale=en_US&srchid=1575345121381716551638&srchindex=1&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1575345121381716551638%2CVSRPtargetId%3A201092155%2CVSRPcmpt%3Aprimaryhttp://www.lbma.org.uk/pages/index.cfm?page_id=28&title=good_delivery_ruleshttp://www.lbma.org.uk/pages/index.cfm?page_id=92&title=lbma_executivehttp://www.lbma.org.uk/assets/LBMA_Summer_Secondment.pdf


17/24

website.

London Trade Association

LBMA

February 2013Present (9 months) The Royal Exchange

Volunteer

Circ Bonboni & Dahab Animal Rescue

October 2012December 2012 (3 months)Sinai - Egypthttp://www.linkedin.com/profile/view?id=90965922&authType=name&authToken=F32f&trk=prof-

sb-browse_map-name

+++ Management Committee (http://www.lbma.org.uk/pages/index.cfm?page_id=61):

David Gornallhttp://www.lbma.org.uk/assets/AGM12_PR_Chairman.pdf

Chairman of the LBMA.

Currently Head of Precious Metals at Natixis London Branch, he has traded on the bullion market

since 1979.

Zowel de 2013 als 2012 speech gaat over succesvol lobbyen tegen regulatie:

(http://www.lbma.org.uk/assets/DG%20AGM%20Speech%2020130619.pdf ;

http://www.lbma.org.uk/assets/AGM12_PR_Gornall.pdf)

David Gornall began his career in 1979, trading silver at Lonconex Limited, part of the PrimaryIndustries/Golodetz commodity trading group. After a spell at Morgan Guaranty Trust of New

York, he moved to Sogemin, trading in the LME ring and heading the bullion and FX desk. In1992 he joined NM Rothschild to start their LME base metals operation, before returning to

Sogemins successor, Natixis Commodity Markets where he was a main board director until 2009.David is currently the Global Head of Precious Metals at the French Investment Bank, Natixis.

David is Chairman of the LBMA and has been a member of the Management Committee since

August 2005. (http://www.lbma.org.uk/assets/LBMA_FORUM_All_Bios_2012.pdf )

Experience

London Bullion Market AssociationChairman

London Bullion Market Association

June 2011Present (2 years 5 months)London, United KingdomNatixisGlobal Head Precious Metals Trading

June 1999Present (14 years 5 months)Manager

N.M.Rothschild

June 1992July 1993 (1 year 2 months)London, United Kingdom

Education

Emanuel School

19711977[is een priv- (elite-) school:http://www.emanuel.org.uk/]

(http://www.linkedin.com/profile/view?id=95617153&authType=NAME_SEARCH&authToken=JjZK&l

ocale=en_US&srchid=1575345121381451916843&srchindex=5&srchtotal=8&trk=vsrp_people_res_n

ame&trkInfo=VSRPsearchId%3A1575345121381451916843%2CVSRPtargetId%3A95617153%2CVSRP
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18/24

cmpt%3Aprimary)

2006 Natixis is charged with anti-competitive practices, fraudulent financial arrangements and of taxevasion in an investigation of the Department of Justice into the municipal bond market in theUnited States.

(http://www.transnationale.org/companies/natexis.php)

De Rothschilddynastie heeft geen goede naam. Samenzweringstheorien doen de ronde. Meer

relevant is dat ze de goudmarkt zouden gemanipuleerd hebben op frauduleuze wijze. (Bernstein,

2004)

LBMA Vice Chairman: Steven Lowe, Bank of Nova Scotia - ScotiaMocatta

LBMA Chief Executive: Stewart Murray

(Zie eerdere vermelding)

Grant Angwin, Johnson Matthey

General Manager, Johnson Matthey (http://www.lbma.org.uk/assets/alchemist56_web.pdf)

Op basis van het volgende geloof ik dat hij een libertarir is: schrik van overheid, voor vrije markt,

goud is geld

Grant clearly does not have a lot of trust in his politicians, which is a fair enough point, and he linksit back to Jim Steel again.

Jim Steel, the man who would sell his family and his house for gold. Jim took us on a journey: that

everything that is bad in the world is good for gold. The more corruption we have, the more public

dissatisfaction, negative correlations with presidential approval ratings, in that sense, for the goldmarket, long live Obama. Jims most important slide was Obamas approval or

Deel 3 Jan de Clercq

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