Monday, September 26, 2011

Digital Currency Trader London Gold Exchange Permanently Closed!

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Activist Post

It seems that the scandalous financial world has claimed another 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?  In related news, France bans cash sales of gold and silver over $600.

Hat tip to Mike W├╝st from for the news.


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Shell Game said...

About that 'London Gold Exchange':

tom said...

When the news start getting out on more of these thieves in the metal market makers the more people understand how corrupt they are. Chicago has increased the margin on silver 13 times since may even when the price is off by almost 50 percent. This was the way they kill the hunt brothers who broke no rules but they raninto the market makers. Jail is the proper place for these individual. BTW this should also go a way to alert the need to audit all the central bankers who work closely with the metal exchanges.

Anonymous said...

Sorry to spoil the party but .......

About That "London Gold Exchange"...
Submitted by Tyler Durden on 09/26/2011 - 14:05 Hong Kong

We are only putting this up because we have been flooded with emails about an event which for some reason readers believe is relevant. The event in question is that according to its website, the London Gold Exchange ("LGE" or the "Joke") has closed. The one thing we would like to say about this is that the LGE is nether an exchange, nor does it trade gold. And, judging by its Wikipedia page, is probably not based in London but in Hong Kong. But yes, if one is concerned about such "currencies" as bitcoin and other digital "currencies", this may be news...And now, carry on.

Anonymous said...

welcome back, activist post!

Anonymous said...

Please someone with knowledge explain this closing. None of the posts makes any sense. Why did it close down. What is this company all about, they may be a joke but why would they go belly up now. How does this relate to the markets.

Anonymous said...

Simple moral to this story.

Buy physical gold/silver; pay in fiat currency. If requested sign as John Doe. Bury your new money. Tell no one not even wifie where. Sleep well.

Anonymous said...

Activistpost welcome back but I have read a few bogus stories here. Edit and double check please.

apeman2502 said...

Apparently the 'Haves' have had their fill.

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