Monday, November 2, 2009
Will COMEX Gold Default?
Mints are seeing a sharp rise in sales this year due to interest so strong that dealers are reporting a shortage of products such as Krugerrands and one-ounce bullion coins.
China is now pushing their citizens to buy gold.
Anecdotal accounts from “boots-on-the-ground” gold and silver brokers are reporting heavy ‘net with drawl of physical metal’ at COMEX depositories, raising doubts as to whether there is gold in inventory to match existing warehouse receipts.
London gold vaults are being emptied. Hong Kong is pulling all its physical gold holdings from depositories in the UK and moving their $63 million worth of gold home to newly built vaults near the city's airport. Dubai is also planning to withdraw its gold from London. Meanwhile, private investors and Swiss ETFs continue to move gold out of London.
Many large money managers who were formerly in paper gold are now demanding physical gold bullion instead.
LINK HERE
Fraudulent Tungsten Filled Gold Bars?
LINK HERE
International Monetary Fund sells 200 tons of gold to India
LINK HERE
Prepare for the Great Depression.
Survival Seeds
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Sigh!
ReplyDeleteJust to think of all the Keynesian's out there who think Gold and Silver is useless and that currencies should be backed by nothing. – Shmucks!
China, India, and other countries understand that a currency to have "value" it must be backed by something of "value" - Duh!
Unfortunately the US Fed thinks that the US Dollar need only to be backed by the US Military as its means of value -LOL! Silly Banksters.
Don't worry folks the Fraud banksters will attempt another commodity collapse soon to try and get countries to invest in US treasuries (ROFL). Besides, we need somebody to pay for our unemployment benefits and nationalized health care (Sarcasm on). At that point jump into the short term decline in Silver and Gold because that window will be SHORT. The other countries will laugh at the Feds last miserable attempt and just use the "engineered" lower precious metal prices as a chance to buy more which will signal the end to the Fed and the US Dollar stronghold.
Be patient and wait for the window.
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ReplyDeleteThe Comex *has* defaulted, essentially. They now claim the right to pay you in Gold ETF or cash. Jesse's Cafe American has the story.
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