COMEX Registered Inventories Update

On August 30^th – i.e, nine days ago – I wrote “COMEX REGISTERED INVENTORIES – COULD DISAPPEAR ANY DAY!” In it, I described the utter collapse of available-to-purchase “registered” gold bullion in the COMEX warehouses; which since April’s “ALTERNATIVE CURRENCIES DESTRUCTION,” have plunged an astounding 75%, from roughly 3,000,000 ounces to 700,000 ounces. Without such inventory, the COMEX would cease to exist as a price-discovery mechanism; and since 99% of global price discovery has occurred on the COMEX since it was commandeered at the turn of the century, the odds of an all-out Cartel collapse would increase exponentially. In fact, the unnatural backwardation we have experienced for the past six weeks would likely become PERMANENT; as going forward, trust that “futures contracts” are backed by actual metal would vanish into the ether.
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