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Is the COMEX really the CRIMEX? Where's the gold?

 
The White Owl
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User ID: 3615568
United States
12/16/2011 11:18 AM

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Is the COMEX really the CRIMEX? Where's the gold?
"When I talked to the head of deliveries at COMEX NYMEX, I was like, 'What if 4% of the people want [gold] deliveries?' He said, 'Oh Kyle, that never happens. We rarely ever get a 1% delivery.' And I asked, 'Well what if it does happen?' And he said,'Price will solve everything' And I said, 'Thanks, give me the [physical] gold.'"

[link to www.businessinsider.com]

1). CRIMEX and NYMEX do not have enough physical precious metals in inventory to cover 4% of the paper contracts.

2). If demand for physical precious metal deliveries go above just 1%, the CRIMEX - NYMEX prices are deliberately manipulated.

This is what is going on right now.

Last Edited by Oiled In Florida on 12/16/2011 11:23 AM
The White Owl (OP)

User ID: 3615568
United States
12/16/2011 11:25 AM

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Re: Is the COMEX really the CRIMEX? Where's the gold?
"And then we went and looked at the COMEX. The COMEX at the time they had about $80 billion in open interest between futures and futures options. In the warehouse they had $2.7 billion of deliverables. So $80 billion in open interest — $2.7 billion in deliverables. We’re gonna own it a long time. You’re on the board, as a fiduciary, what do you do? That’s an easy one. You go get it. So you go take a billion of $2.7 billion and you let them worry about the rest."

That means there is only about 3.4% of physical gold/silver held in COMEX inventory to cover 100% of the paper contracts.

Last Edited by Oiled In Florida on 12/16/2011 11:30 AM
Anonymous Coward
User ID: 1499226
Germany
12/16/2011 11:36 AM
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Re: Is the COMEX really the CRIMEX? Where's the gold?
"When I talked to the head of deliveries at COMEX NYMEX, I was like, 'What if 4% of the people want [gold] deliveries?' He said, 'Oh Kyle, that never happens. We rarely ever get a 1% delivery.' And I asked, 'Well what if it does happen?' And he said,'Price will solve everything' And I said, 'Thanks, give me the [physical] gold.'"

[link to www.businessinsider.com]

1). CRIMEX and NYMEX do not have enough physical precious metals in inventory to cover 4% of the paper contracts.

2). If demand for physical precious metal deliveries go above just 1%, the CRIMEX - NYMEX prices are deliberately manipulated.

This is what is going on right now.
 Quoting: The White Owl


clappa

I think and hope it's the same with silver!

paper price <> physical price

In that case gold (oz) should be at

$1600 x (~)98 = $156 800 / oz

Would be nice ;)
Anonymous Coward
User ID: 1499226
Germany
12/16/2011 12:25 PM
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Re: Is the COMEX really the CRIMEX? Where's the gold?
bump
humanitech
User ID: 6422179
United Kingdom
12/16/2011 03:02 PM
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Re: Is the COMEX really the CRIMEX? Where's the gold?
"When I talked to the head of deliveries at COMEX NYMEX, I was like, 'What if 4% of the people want [gold] deliveries?' He said, 'Oh Kyle, that never happens. We rarely ever get a 1% delivery.' And I asked, 'Well what if it does happen?' And he said,'Price will solve everything' And I said, 'Thanks, give me the [physical] gold.'"

[link to www.businessinsider.com]

1). CRIMEX and NYMEX do not have enough physical precious metals in inventory to cover 4% of the paper contracts.

2). If demand for physical precious metal deliveries go above just 1%, the CRIMEX - NYMEX prices are deliberately manipulated.

This is what is going on right now.
 Quoting: The White Owl


worthless paper money, worthless bonds and stock, worthless paper gold and precious metals..might be the same for everything really..in this magical corrupt ponzy scheme.

As whilst trading and playing on the markets..it is meaningless numbers..only cashing in for physical assets is when the truth reveals itself.

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