Funny, but not ha-ha funny..................from Rico

While the Financial media monkeys play "Hey, look at the grouse!" with everyone.....er, 'anticipate' WWJYD (what will Janet Yellen do) aka 'speculate' in complete ignorance of whether the FED will raise interest rates (which reduces the value of the Fed's Treasury holdings, hence reduces their net worth btw) or not 'something funny' is happening beneath the surface with precious metals at the COMEX.

- Deliverable [registered] Gold at the COMEX is at a record low. How low? So low that JPM only has 27 'good delivery' bars on hand for delivery.

- We now have 252 potential claims for Gold against every ONE (1) ounce of Gold on hand at the COMEX. Oh, yeah....252 'owners' of the same thing. Not good.

- Deliverable [registered] Silver at the COMEX is not just at a record low, but fell off a cliff just in the past two days.

 

So, I am smart enough to notice that 'something funny' is happening that is quite out of the ordinary, but not smart enough to tell you what that might be...except that I don't think this is 'ha-ha funny' or that it can be a good thing for most of us.