What is this:

Upon seeing Comex OI make new lows as Gold made new highs with China activity surging ( domestically as well as in Shanghai) serve as an important signpost on the path to Comex pricing’s diminishing importance, and with it, Global dedollarization accelerating.

The Bottom Line: Gold’s new highs now and going forward will come at direct injury to Bullion Banks, the Comex franchise, and USD hegemony. Too many events are converging on this to ignore anymore.

VBL

**Comex Deathwatch: China Sets The Gold Price

[SECTION 1 – OPENING THESIS + VENN FRAMEWORK]
[SECTION 2 – MARKET STRUCTURE: WHAT’S NORMAL VS. WHAT’S CHANGING]
[SECTION 3 – TWO INTERPRETATIONS: REGIME CHANGE OR CONTRACT DEATH]
[SECTION 4 – EVIDENCE OF DECLINE: VOLUME MIGRATION AND MARKET DISLOCATION][SECTION 5 – BANK BEHAVIOR, COLLATERAL CRISIS, AND EARLY WARNINGS]
[SECTION 6 – REGIME SHIFT OR TERMINAL DECLINE?]
[SECTION 7 – GLD, DOMESTIC CONTROL, AND THE QUIET SHUTDOWN OF COMEX
[SECTION 8 – POSITIONING, DISCIPLINE, AND THE TWO PATHS FOR COMEX]
[SECTION 9 – GLOBAL LEVERAGE, REGIONAL PRICING, AND GOLD’S REPRICING SETUP]
[ADDENDUM: VARIOUS CHARTS ON CHINA]