OK, I'll admit I'm guilty of stirring up things just to make KD jump up and down but in the end I try to provide a balanced view. ZeroHedge has jumped the shark. Tyler knows damn well eligible inventory doesn't mean the Gold was sold. Silver didn't work but this time it's different appears to be the developing narrative......
.... from ZeroHedge which I am sure will having a Million souls screaming "Gold Bitchez"
This one from Matt Taibbi from Rolling Stone is an interesting read.
Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world's largest banks may be fixing the prices of, well, just about everything.
You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that's trillion, with a "t") worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it "dwarfs by orders of magnitude any financial scam in the history of markets."
6 comments:
the only interesting thing about the COMEX is that their gold is different from everyone else's: it's 100oz bars instead of 400oz bars, which means that they should have more difficulty with fungibility....
note that COMEX shorts can deliver 3 kilo bars instead of a 100oz bar...
i wonder if they already do that by default? or if it's mostly 100oz bars? I have no idea...
What I should have mentioned in the main body the "depleting inventory" is an old con. When the Hunt Bros were doin' their thang the narrative at the time was the inventories were being run down (kind of like today) but it was a con on a massive scale. Inventories were just in transit. Maybe it is different this time. Just be careful out there.
KD,
That's a question for Warren when he climbs out of his Spider Hole.
LC,
Wasn't the Hunt Brothers problem also that they were buying silver on margin from the very banks they were trying to squeeze?
Milamber
http://www.scribd.com/doc/54739808/Silver-Finger-by-Harry-Hurt-III-September-Issue-1980-Playboy
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