Alasdair MacLeod Talks De-Dollarization; Eastern Takeover of Gold Trading

``"Today, in the LBMA over-the-counter market, nobody knows what's going on. So you can see what goes on in [the non-London] markets, but you can't see that in London. It's even been suggested, based on mathematical analysis of the bullion market, that the London gold fixing process is rigged about 10 to 30 percent of the time. That's quite an indictment. The regulators in London have been told by the politicians to clean up the gold market. I would really be surprised if they don't institute some major changes... If it doesn't, we're not going to retain the business that places like China, Dubai, and Singapore want to develop. I'd say that changing the fix is the first step to a long road of reform that London needs to undertake.''