Comex Might Have a Delivery Problem

For a long time, it was the crazy gold bugs that kept predicting shortages of gold. Well, now even the mainstream media is starting to talk about it.

Comex has a problem

Since the video, the registered gold inventories declined even more. As of yesterday, Comex only had 370k ounces of gold available for physical delivery.


1 Comment to Comex Might Have a Delivery Problem

  1. Roger's Gravatar Roger
    January 24, 2014 at 10:16 am | Permalink

    That’s a big deal. If the Comex defaults on delivery of physical gold and gives cash instead, people will realize that “paper gold” is BS and the paper market will collapse. Since the only way that the price of gold was kept down was using the leverage of paper gold sometimes up to 100 to 1 actual physical ounce of gold, the price of gold would have to skyrocket to meet that kind of demand. As a side note, gold would become too precious as a store of value to be used for jewelry anymore.

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