Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

SELLING OUT OF PRECIOUS METALS AND BUYING BITCOIN…. Very Bad Idea
By: Steve St. Angelo

The Bitcoin Bubble Explained in 4 Charts
By: Jake Weber

VXX Sends an Awesome Message from Another Galaxy
By: Rick Ackerman

Asian Metals Market Update: November-22-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain With Stocks
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 21 2017
By: Ira Epstein

Bitcoin, Bail Ins And Bullion
By: Mike Maloney

Tactics For The Gold Bull Era
By: Stewart Thomson

Dow Peaking? The Quick Guide to Diversifying Your Stock Profits
By: Jeff Clark

What History Says for Gold Stocks in 2018-2019
By: Jordan Roy-Byrne CMT, MFTA

 
Search

GoldSeek Web

 
Is Comex gold really being critically drained?

By: Chris Powell, GATA

 -- Published: Thursday, 10 September 2015 | Print  | Disqus 

Dear Friend of GATA and Gold:

Zero Hedge reports tonight that the gold ready for delivery from Comex warehouses against Comex gold futures contracts has fallen to the lowest amount on record, leaving 207 ounces in paper gold claims for every ounce of real metal ready for delivery:

http://www.zerohedge.com/news/2015-09-09/something-just-snapped-comex

Your secretary/treasurer would like to believe that this signifies that the gold available to the paperhanging market riggers is nearly exhausted and that the exchange will resort to cash settlement within hours. But to believe this you would have to believe that Comex data is accurate and not contrived to give false impressions; that the U.S. government won't keep advancing official-sector gold through its agent bullion banks as necessary; and 3) that such advances aren't easily implemented by, among other mechanisms, borrowing custodial gold from the vault of the Federal Reserve Bank of New York and moving it across the street (or, rather, under the street) to the vault of JPMorganChase & Co., the U.S. government's agent in all sorts of surreptitious market interventions.

Yes, if, as many of us suspect, the paper gold game has been terribly overplayed and will implode eventually, as the London Gold Pool imploded on March 15, 1968, then the Comex will declare force majeure and that will be the end of gold futures in the United States and gold market rigging by the government will either cease or, more likely, come out into the open, through an upward revaluation of gold by international agreement or confiscation of gold by the most threatened governments.

With infinite time, other things may happen as well: Christ may come back, the Dodgers may return to Brooklyn, and the mainstream financial news media may investigate government intervention in the gold and commodity markets.

But international currency revaluations usually are announced on Sunday nights, before markets open for the new week. And if, in thrall to the U.S. government, Western central banks are willing to risk their last ounces of monetary metal to prevent free markets from returning, the day of deliverance could still be far off and thus it still could use hastening by clamor from gold and silver mining companies, commodity-producing countries, and investors generally.

So turn out the lights tonight hoping, as always, to awaken to a better world in the morning, but be ready to face the same old one, wherein "sufficient unto the day is the evil thereof."

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

http://www.gata.org


| Digg This Article
 -- Published: Thursday, 10 September 2015 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.