Fact, Fiction And Fraud At The COMEX

“I think there will be a full monetary system reset after the world has had enough of Jay Powell and his digital printing press.”

The alleged gold flow into the Comex and amount of gold for which contract longs are taking “delivery” is at a historical extreme. I use “delivery” because “taking delivery” means being assigned an electronic warrant that records ownership transfer of a Comex registered bar presumably (but not guaranteed) to be sitting in a Comex-approved vault.  It does not mean that the party taking delivery takes possession of  a physical bar.

Chris Marcus and I discuss the unusual activity at the Comex and the LBMA in the podcast below.  But first read this excellent article from Ronan Manly at Bullionstar.com, who dissects fact from fiction about the Comex vault and delivery reports:

However, given the opacity of the wholesale gold market and the unconvincing explanations from its fronting organizations the London Bullion Market Association (LBMA) and COMEX operator CME Group (e.g. closed refineries, grounded flights), those looking for a ‘Theory of Everything’ framework to connect all of the above have had to do so on their own.

While Bloomberg and Reuters are content with repeating spoon-fed handouts about all of the above – eating the breadcrumbs instead of following the trail – and between them have published at least 30 articles on the subject, thankfully there are many on the sidelines who are more inquiring and less gullible, hence the skepticism, speculation and debate.  “The Curious Case of Comex Gold Deliveries…”

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