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Anyone who has spent any significant amount of time watching the metals markets knows just how manipulated it is, and how deceitful most articles are, and how t
by than3 4y ago
Anyone who has spent any significant amount of time watching the metals markets knows just how manipulated it is, and how deceitful most articles are, and how there is no enforcement against the big boys.
From the data I've seen, the outstanding warrants for commodities of silver and gold far exceed actual reserves, at about a little under 300:1 oz physical ratio.
Fun fact, the COMEX has never been independently audited.
The appropriate reasonable level of counter-party risk would be rated quite high for (paper) gold (which is what the spot price/derivatives are traded on), some silver investors tried to take delivery, and couldn't because of broker fraud (i.e. not disclosing they didn't have a loadout policy while advertising they could take delivery), and the COMEX refusing to speak with anyone but the broker, along with a lot of other policies that suggest volumes.
Honestly, who's to say if there is any gold in the COMEX vaults? For all we know it could be like what happened with China's gold-plated copper bars.
We are living through an era rife with fraud without any accountability. Eventually the bill comes due.