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Paper Gold Dilution Hits 294x As Comex Registered Gold Drops To New All-Time Low
One week ago, gold market observers were surprised when in the span of four days, gold held in the JPM Comex vault declined by nearly 50%, starting on November 16 when the 668,498 ounces held in the vault below 1 Chase Manhattan Plaza declined precipitously to just 347,899 ounces, a new all time low.
Furthermore, as of the latest Comex activity update, on Friday the Registered gold held by JPM dropped another 2,802 ounces to a record low and virtually negligible 7,975 ounces, essentially equivalent to zero as shown in the chart below, even as JPM's eligible gold has also been seeing a substantial decline in recent months.
But while the decline of JPM gold has long been noted, it was the latest drop in total Comex registered gold which has again raised eyebrows, and which contrary to expectations it would be replenished either from external inflows or by conversion from Eligible both of which have not happened, has instead continued to decline. According to the latest data, total Registered gold dropped by another 11% overnight to just 134,877 ounces, just over 4 tonnes and another all time low...
... and since the gold open interest remains largely unchanged, the physical gold coverage ratio, or the ratio of gold claims to Registered gold, has just hit an all time high of 294 ounces of paper for every ounces of physical.
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Two words for you pal.
Get. Fucked.
Nice.
200 tons a month? But most of that is made into Golden Grahms.
So why are GLD holdings at record lows also?
Because people have figured out that gold isn't an INVESTMENT.
Do you know how GLD acutually works? If people cash in their shares, GLD gets rid of physical.
The Shanghai Gold Exchange delivers more than 50 tonnes a week to mainland China alone.
That by itself accounts for the entire world's mine output.
So what's you point? That there's no gold left in the world?
If there WAS a shortage, then why is the price CONTINUALLY DROPPING? Oh right, it's a conspiracy...
There's STILL 150,000 tonnes of gold floating around the world.
What's a 'conspiracy theory' anyway (other than being the go-to, debate-ending ad-hominem) used by people like you to smear opposition with a trendy catch-phrase that you hope a few sheep will dutifully nod in approval of...?
I'm saying there is no great conspiracy theory behind PM pricing. Some collusion now and again for small price movements, but no one conspiracy that took silver (gold) down from $40 to $14
As for conspiracy theories others use? There are dozens of them, all equally absurd.
You have no idea what your talking about. I can't speak for US Pm Dealers , but, in Canada, there were actual physical supply issues back in July , when they took slv below 14 USD. There was a point, in fact, where our silver product inventory was all but gone. Clients could only buy on back order. low price=increased demand=supply issues. Deal with it
200 tonnes a month - about $7 billion at current prices.
Fucking peanuts compared to what's (paper) traded in a month.
To see how big the shortage is, compare the number of promises to the amount available.
I guess you failed math.
You confuse trading with buying and holding. The same ounce of gold (or paper) can be traded millions of time, but it's still only one piece and it doesn't mean that they are short a million ounces of gold.
You're looking like the moron.
My whole point was that the physical is tiny compared to the paper.
I absolutely DO NOT confuse trading with buying and holding.
I also do not confuse money with currency.
You should read and think a bit more before calling someone a moron.
Save you from looking like one.
Every major central bank combined [6-10] prints over $2 trillion a year... You must be part of the Greek Troika, based on your handle. lol
Maybe they want to move all the gold out before they destroy the building at the market crash? "Oh, we would be happy to give you all your gold but unfortunately it was buried in rubble. Perhaps after it's no longer a crime scene we can dig it out for you? In the mean time, here's some QE money for you in trade to obligate or contract. The current ratio is $3 for every $100 you had. Thank you for gambling at our casino and please come back again!"
I work for a small PM dealer, in Canada. back in July , when the slv went sub 14 USD, we had supply issues, not coins, but, 5 and 10 oz bars. We actually put a limit per customer per day. Now, as slv, again ,nears the 13 handle, demand has picked up. This time around, though, gld has caught fire. Our ratio slv/gld , in dollar terms, was easily 80% slv. Now, gld , is selling almost dollar for dollar. Havent seen this in the past. Not exactly sure what that says.
Can buy all the silver I want/
So? That's RETAIL.
If there's such a SHORTAGE, then why is the price of gold/silver GOING DOWN?
Tell us, were you BUYING bullion and scrap over spot? How much?
Listen you fucking fool, If your not bright enough to know why the price is going down, than I won't waste my time educating you. I will tell you that premiums we indeed going up on both the buy and sell side.
So WHAT ARE your premiums buying bullion. Not coins, but bullion. Or do you only raise your buying rates when you raise your selling rates, when there's a "shortage"?
I'd love to hear your conspiracy theory as to why silver went from $40 to $14 the last couple years.
You must be one of those people who swore at me 3 years ago when gjold and silver were over their peak, and I said they would CONTINUE to drop VERY substantially, and set a price of $15 to $20 for silver, when it was at $30. I actually put a longer timeframe on my prediction, in the 5+ year range.
I was right, and you (your kind) were wrong.
So now you're reduced to swearing at other people becasue you're so stoopid.
Yes, actually I can tell you why slv went from 40 to 14. It started shortly after O'bumfuck had his private meeting with the wall street bankers in 2011. See, heres the thing, TPTB dont want PMs up nor the markets down. And they get what they want. You choose to believe that silver can be mined below the cost of production forever, fill your boots. And just so ya know, Oswald didnt kill JFK with a magic bullett, Neil didnt take the giant leap for man kind, 2 planes didnt take down 3 towers on 911,and no kids got killed in Sandy Hook. But a smart guy like you already knew all this. Now fuck off, Im done feeding the trolls.
Oh yeah, Obama and the bankers cornered the worldwide sliver and gold markets, wagged their magic finger and drove the price down. Yep, totally manipulated, nobody else has any say as to the prices of PMs.....
Hahahahahaha, You're hilarious. Delusional people are always funny to watch.
In your list of conspiracies, you forgot to add that the earth is less than 10,000 years old.
What's a 'conspiracy theory'...?
Who's 'conspiring'...?
Against whom?
Who benefits?
Can you take a paragraph or two and lay out some detail - preferably with names, dates, numbers, references, etc., of this 'conspiracy theory' you speak of...?
Thanks...!!!
I'm saying there ARE NO conspiracies (just some short term collusion), But it's market forces, meaning supply and demand, that dictate the price of PMs.
294 paper units to 1 fizz unit means demand and supply *the markets* are in any sort of equilibrium to you ? The price action is but a temporary fiat illusion, but the ugly truths as to why this is so will prove the PM holders right... The fiat roaches will burn burn burn...
FlakFRAU...
In order to supress price they can increase supply...OF PAPER CONTRACTS.
Of course the EMPIRICAL EVIDENCE has demonstrated that they have done just that.
That is the reason for the 294:1 Leverage, CUNT.
There is no shortage of paper.
I know that you know this.
There is no shortage of paper FlakFRAU, you fuckin' lying, dishonest CUNT.
They create contracts for Gold that does NOT EXIST and then SELL those CONTRACTS. Since the supply of contracts increases then the unit price for the contracts declines as a result.
You have some valid points. I would even support some of them...EVEN THOUGH I AM A PERMAGOLD BUG.
Yes Cash Settlement is an option for the Comex. Most contract owners opt for that option. That is why COMEX still has Gold.
But, INSTEAD OF EDUCATING, and WRITING THAT WHICH IS TRUE, you conveniently ignore the dwindlng supply of Physical Gold available at the LBMA, the Physical Market, because that will further weaken your point?
So when you LIE THROUGH YOUR TEETH...as you do constantly...
Why don't you go and do some Carpet Munching instead of demonstrating the ignorance of the posters here? Do you really believe yourself as that inferior?
You want to pretend that you are a man.
Now you are pretending that you are a mosquito?
I have also noticed that your different personas are demonstrative of your schizoid tendencies. Yes you do have a fragmented personality at that, which is combined with gender confusion.
Perhaps you need a trip back to your Psychiatrist to get a medication adjustment.
You are living proof of the ancient quote:
'When the debate is lost, slander becomes the tool of the loser.'
- Socrates
You can tell how recently a poster has "invested" by the amount of vitriol in the posts. Gotta excuse the "investor" folks as they are the ones who will sell at the bottom. The gold bug is a person who holds gold for the anti FIAT value not the return of FIAT. Could be a delusion to do so but the alternative is just plain dumb
Just let someone on the outside to pull this shit and they'd be nail gunned in a heart beat. Competition is not allowed.
It could be a million to one.
So what? they settle in fiat.
BTW those new titanium cone one size drill bits work good.
But don't you know, It's all a CONSPIRACY...... And the world is going to come to an end when COMEX "runs out of gold" for the thousandth time.
They love believing in their delusions.
Hi again,
Was wondering if you could please tell the forum what 'CONSPIRACY' you are speaking of - the players (assailants, victims, beneficiaries, etc.)...?
Thanks ----- Again...!!!
IMHO< Its not a conpsiracy, but a false flag..Laughs
I'll sell you my car. Truoble is I've sold it 294 times already. You still buying?
Not the same thing. I would stop at your selling the 2nd time. This is COMEX Casino we are talking about. Nobody is asking for their 'car/gold' back. The fact that it got to sell 294 times their holding tells you something.
But it's good to dream...:)
I believe "seek" said that we will see 500x dilution in the next 6 months, or less. That is an understatement. Very soon the COMEX will end up with 1 ounce of gold. That single ounce (which will not be "delivered") will represent all the "paper gold" outstanding. Think of it in the terms of the Trillion Dollar one ounce platinum coin that has been pushed as the solution to the debt situation. All paper gold "contracts" will be settled in "cash", but, of course "cash" will be banned. Good luck to all you dumb fuckers that are trading in the paper "shit".
Some of the same entities using the paper contracts to supress price are using the opportunity to load up on as much phys as they can without upsetting the system. Who would have that sort of cagey patience?
Nothing 'China' is going to happen until U.S. foreign policy finally jumps the tiger. And that's likley just what the Chinese (and Russians) are waiting for. Barring that, don't look for this situation to resolve itself domestically anytime soon.
Why do we all hyperventilate on gold as we all know the CFTC has our asses covered..
And if you think I need to do a /SARC as Tuco said you don't know me…..you better not miss Blondy..
Preliminary data from comex show open interest for Dec gold at 7800 on Friday which represents 780'000 troy ounces. If OI for Dec Gold, which will be reported tomorrow, stays above 1348 which represents 134'800 then it will mean that Comex would not have enough gold to deliver during December. Here is more detail on the situation: https://www.youtube.com/watch?v=4MaeQYRHOV8
I wouldn't be surprised to see a sustained drop in the gold price, which will be used to settle out these paper contracts for perhaps half of their real market value right before everything turns and goes instantly hyperbolic.
The fact that Mother Hubbard seems to have forgotten to stop at the Gold WalMart on the way home from cashing her Federal Reserve check leaves me to suspect that the cupboard isn't bare due to excessive demand for gold but due to the fact that Mother Hubbard wants it that way for at least a little while.
It's always easy to spot the "tells" with hindsight.
Makes sense, the deflating before the hyper-drive takes hold...like we are seeing with the other commodities.
Vlad, your plane can take 4 tonnes
Yeah! I was all over the news tonight!!!
not really...
LOL....the music is coming to and end and there aren't any chairs!
That's why the agenda has entered warp factor......
http://beforeitsnews.com/conspiracy-theories/2015/11/us-gives-their-prox...
Does this mean I am not going to get my gold watch when I retire in a few years....damn..first they take away my pension..and now my gold watch....but I really feel sorry for my boss..he thought he was going to get a hefty "golden parachute" when the merger was completed...
Time to print more gold.
It's hard to believe that with 2B ounces mined all time and millions of ounces of gold sold and traded daily that a few ounces controls the worldwide price.
I'm keeping mine.
It doesn't control the worldwide price.
People here just think it's the center of the world and everything revolves arouond it.
Don't forget folks...
It's all a 'Conspiracy Theory'...
Sent from my Mu Metal-lined bunker...
What purpose or whose interest does it serve for the exchange to publicize this deficiency?
Who believes the COT's ?
How about the disclaimer added to comex reportings?
GOFO rates no longer published. What about production and swap numbers.? Stealthy bullion movements?
This could just as easily be misdirection, and exactly as the criminals would like it to be. More confusion, more nefarious activity, more uncertainty.......
I can easily believe the 294:1, but I view all of the other (inside and ouside of metals) numbers with skepticism. Good theatre, good clickbait, and good for the Soapboxers.
Disclosure... I'm a metals Bug
Exchange Stabilization Fund?
who cares...it's only the BS comex, I'm surprised that they have ANY gold, then again, I never saw this 4 tonnes.... so how can we be sure they even have that?
They'll spin some shite when it gets to zero..... or likely before.... There again perhaps they won't.......BOOM!
Someone please set up a go fund me page to kill the Kraken.
This shit better fester soon. Nations are crying for a change. Unfortunately, Satan has the upper hand. God will dispelled this babaloyon system. Fake systems.
Wait, doesn't this mean that people are selling 294x as much gold as exists in Comex reserves? So, like, that is bearish, right? Sorry. I get easily confused. But, why would this be a bull signal and not an extreme bear signal?
One of these days some daddy-warbucks type will realize he can become a huge folk hero by demanding delivery of more gold or silver than the exchange can delivery... thereby resetting the manipulated monetary-metals system.
Hopefully sooner rather than later... but who knows.
Expect mushroom type event over the COMEX buildings in the near future; the preferred method to eliminate all paper or electronic trails. Blackrock recently bought the Willis Tower (Sears tower), which is directly behind the COMEX data center. Of course, never let a good crisis go to waste.
This way the Willis Tower can actually fall into the COMEX; looks a little more realistic than say WTC Bldg. 7.
Exactly correct, that is precisely how (in pattern) the predators-that-be deal with inconvenient situations these days. Good call.
I guess they'll have to nuke Fort Knox too, so they can claim "honest, really... we still had all the gold, but it got vaporized into the atmosphere".
You know what? Some scriptwriter should start writing screenplays for all these kind of obvious scenarios, because many of them will play out almost exactly as expected. This is already happening with people who have figured out the typical pattern of false-flag events, except not in movie or TV format.
Stack faster, Bitch-ez!
allright, put me down for 4
WTF, Rhodium at $710 no dealer has stock, Platium at $838, almost no stock.
Stick a fork in Comex, it's done.
294:1 is what they allow us to see... The costumer/eligible gold may have been re-hypothicated 10, 20, or 100 times over too on top of that (assuming those 6M oz. are all there). There will be hell to pay WHEN this is unwound (fizz default on the horizon ?). Hard to believe they kept their paper games together as long as they did. So far well done evil empire. But time is running out me thinks. 900 au, bring it. tick tock tick tock...