$1 Billion of Gold Bars Taken Delivery Of By Pension Fund Due to Risk of COMEX Default and Shortages

Tyler Durden's picture

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TruthInSunshine's picture

A new campaign should be started urging every party holding 'gold IOUs/ETFs' to convert any such instruments into one that allows them to immediately take physical delivery.

If more than a few % do so, the system would be exposed for the epic historical Ponzi scheme faster than Bernie Madoff can speak the few words of truth he's ever uttered (that Bernankicide-Fed/Geithner-Treasury are the ultimate Ponzi engineers), and all will come crashing down.

High Plains Drifter's picture

ah, as a texan, i would like to advise them that maybe they should assay some of the bars on each of the pallets. and also bring, it would be a good idea to bring that gold to the university of texas tower for storage. i don't trust people in new york......

Long-John-Silver's picture

Non-destructive testing is now easy in an assay of Gold and Silver. A 100% test and inventory would only take one day.

High Plains Drifter's picture

oh, so they don't drill them anymore .......ok, cool.........

TruthInSunshine's picture

***Breaking News Alert***

COMEX advises owners of gold that physical delivery can only be taken at the new COMEX bullion depot, located in Fukushima Prefecture, Japan, effective immediately.

***This has been a Breaking News Alert***

bigdumbnugly's picture

yeah, i took delivery of my billion oz too.

i'm now bullish warehouses.

gordengeko's picture

"A COMEX default would have serious ramifications for the dollar and all fiat currencies as it would further erode trust in central banks, fiat currencies and today’s monetary system."

If you want to end the game, take delivery.  The shades will come off and you will see we have bought into a lie they have been selling for a very long time.  But are we really ready for this game to end?

cossack55's picture

Today is fine, tho a little (cesium) rainy.

High Plains Drifter's picture

same thing with SLV and GLD. take delivery and its  game set match......and the whole house of cards falls. as i have said before the entire game rest on PM and always has because PM is real money. paper is paper and always will be just promises and these promises kept, keep the system going but one day soon, those promises will not be kept. in order to have financial power, real power, you have to have the PM in your control, near you, at all times. 

Hacked Economy's picture

I just bought (and took delivery) and a little more phys silver for myself this morning...

FreedomGuy's picture

It also indicates to me that if more gold is being sold than can be delivered it artificially depresses the price. As people take actual delivery the fraud not only possibly comes to light but the potential for rapid price appreciation appears. Wish I could afford more.

Sutton's picture

Where are they going to keep it?  In some bank that will confiscate it when the time comes.  The gold must be kept out of the System, like in a garage ,backyard, basement, mother's attic.

I guess UT won't be doing that, which means they will be forced to swap the bars for IOU's with Obama's picture on it.

Long-John-Silver's picture

$1 billion in Gold at the price they paid forms a 4 foot cube. Storage would not be a problem.

Long-John-Silver's picture

Soon you'll be able to put $1 billion worth of Gold in your glove box. You could then drive from New York to San Francisco using that Gold to buy the gasoline.

The Aviator's picture

Yes, but they're "storing" them in HSBC's vault. What chance in hell is there that HSCBC is actually storing physical gold for the Univ of Texas?


silvertrain's picture

Storage fee's is all thats on those shelves..

Hephasteus's picture

No comex has a huge multi billion dollar groupon for digiorno pizza. Because it's not delivery also.

monximus's picture


"How to Dance to Dubstep & get KNOCKED the F**K OUT in the first round"


silvertrain's picture

Now if we could get a headline like that but switch Silver for Gold and the gig would most certainly be over...

High Plains Drifter's picture

good luck on that one. if sprott is having trouble, you can be sure Univ of Texas would have trouble.

Catherine007's picture

check this out: 

Spot price 1 ounce silver = CHF 38

Current "real" price when buying from a major Swiss bank in Switzerland CHF 52. According to them the price on Bloomberg etc does not have ANYTHING to do with the real price. 

Bubbles...bubbles everywhere's picture

Most people don't even have enough money to pay taxes, much less a few hundred dollars to buy a few ounces of silver. They are really screwed.

High Plains Drifter's picture

you tell them about junk and they immediately get a negative viewpoint on it.  who wants that old junk silver coin stuff. i don't ......oh ok pal. sure. do what you want. yep the sheep simply do not get it........

Wakanda's picture

comex, crimex, fraud

it is inevitable

all go boom, fall down

Spigot's picture

Yep, and this is only one leading edge endowment. Consider the follow on (and followers)... and they doubled their exposure to gold as well as converted that exposure into physical delivery. Sounds to me like they are positioning for "interesting times". There's gonna be a gold rush, my friends. The best and brightest and their wannabees WILL be coming into the market, they WILL be converting to physical WHICH WILL destroy CRIMEX, WHICH WILL catapult gold and silver into orbit.

Makes a guy get kinda all teary eyed ;)

Wakanda's picture

I am crying too!

tears of joy for free markets

one sad tear for Blyth

MsCreant's picture

Makes a guy get kinda all teary eyed ;)

Well you are a Spigot and all.

Sudden Debt's picture

The advice has always been: put at least 5% of your portfollio in PM's.

And that was the advice in good times.

Most of it has been in paper PM's, but like a bankrun we'll start to see a COMEX run because the more questions are raised about reserves the bigger the problem will get.

Just imagine what would happen if every fund in the world with reserves up to 60 trillion would put 5% in PM's and take delivery!!

That would be 3 TRILLION IN PM'S that would need to be delivered!

And if every 500 million raises the silver price 4$ and half of the 3Tr. would be punt in silver, the price would go up to 3000$ per ounce :)

I would already be happy with 1/3 of that :)




spiral_eyes's picture

in my honest opinion $3000 silver is bearish in the long run.

Long-John-Silver's picture

At some point in the near future one ounce of Silver will be worth infinite numbers of US Dollars.

kapillar's picture

Yawn. The end of the world as we know it is moving from the realms of the “conspiracy theory” to that of “of course we knew it would happen" with only 12 folks posting at ZH. I had been hoping for a little more party in these final days before oblivion.

Sudden Debt's picture

It's monday morning 7.35 on a vacation week...

Most of the people are still standing in line of the coffee machine.



mogul rider's picture

Nah we're over on Leo's thread kicking his sorry ass.

As usual, they are merciless

goldfish1's picture

Leo who? Where? I want in.

Waterman Jim's picture

haha, leo got all mad and was junking everyone,


Forgiven's picture

At the end of every death-spiraling economy lies the burning remains of a defeated, deflated, fiat currency. 

Just Observing's picture

REAL news would be if UT moved the gold to Texas.

Pegasus Muse's picture

They need to move the bullion to Texas.  Now. 

When TSHTF those criminal Bullion Banksters will f*** over those Texans in a NY minute.  

Vendetta's picture

they can keep in the vaults where the other gold was kept in the WTCs ... oh wait

DosZap's picture

UT, needs to just build their own vault.

They have plenty of dough.

gordengeko's picture

Think of the ramifications for a moment.  If the lie is exposed, which is banks have been scamming billions of people giving themselves complete and total control over our fate, what happens?  Sure the price of gold and silver would be astronomical but that would only be in relation to the fact we STILL buy into the fiat game lie since the price of gold and silver are valued by fiat.  If there is no physical for most people to take delivery, how are we going to buy food?  If they already own the bulk of the gold, which they do, and we resort to a gold back currency... how has the game changed?  What happens to the 99% of everyone else?  Same game new name?  Only difference is this time they have more power and control, since the rest of us are left with nothing but overinflated paper that will take a ton to buy a loaf of bread or exchange for their new currency.

Waterman Jim's picture

Did you say "new currency"?


worldo bitchez!