GOFO, COMEX, and BANKING Explained.....................from Rico

GOFO explained:

When demand exceeds physical supply, Gold Forwad Offering goes from positive (contango) to negative (backwardation).

- Yesterday was the 14th consecutive day of a negative GOFO. Gold is in backwardation (future paper options are worth less to traders than the present value of physical Gold).

- Yesterday reflected a 'failed' paper raid on the COMEX, sooooooo.....

- Gee, what a 'coincidence' then, that today Gold and Silver both were hammered 1% in 1 minute by the paper players on the COMEX.

- Have I mentioned yet that next week begins the COMEX August delivery period? [Note that there are still physical deliveries from May and June that have yet to be made...more tonnage than the COMEX vaults presently contain?]

The COMEX explained:

Trading future options on the COMEX is trading paper derivatives of paper derivatives of rehypothecated paper assets (assets sold multiple times to different buyers).

- What could possibly go wrong?

The BANKING system explained:

'To Serve Man' is a cookbook.*

*The Twilight Zone, "To Serve Man" episode 89 - March 2, 1962