There Is No Gold! Mines Shut Down, Refiners Closed, US Mint Down Temporarily, A Flood Of Comex Paper (Video)
There Is No Gold! Mines Shut Down, Refiners Closed, US Mint Down Temporarily, A Flood Of Comex Paper Video by Silver Report
World Gold supply has been seriously disrupted to the extent that there is none to be had and major exchanges have been changing their rules on delivery because they just don’t have the Gold. Shockingly at a time where demand is reaching astonishing levels The CME group has decide it will begin offering a new contract with delivery settled in 400 OZ gold bars (400OZ bars are usually used by banks due to their large size and they require that you own a total of 400 OZ to stand for delivery. The problem is in their recent gold inventory report they added the line item for the 400 OZ gold bars and across all the Comex vaults there are ZERO 400 OZ bars. This includes JP morgan, HSBC the BRINKS vaults. The craziest part is the lack of gold available for delivery is a well established and well-known problem. From bullion dealers to banks everyone has been complaining on their lack of access to Gold or Silver. So the Comex has begun flooding the markets with contracts that are 4X larger than the usual 100 OZ contracts they offer. one would ask why would they choose now to debut a new product with 400% larger volume when they can’t find enough 100 OZ bars to meet demand. My hunch is it has everything to do with the unprecedented money printing we have seen and this enables them to scale up the price impression by 4X. In the real world physical gold is now extremely precious and if you can get your hands on some near spot price do not hesitate because there are plenty of people out there who will take it off your hands in a heartbeat.