1 hour ago
While some had been focused on the COMEX Gold 'leverage' (which was as high as 500 paper claims per ounce for every existing physical ounce), even fewer have been paying attention to the COMEX Silver 'leverage' [read: fraud] which is now at 44 paper owners for every ONE existing physical ounce.- This is a 3x rise since 2015 ended, and we're only half-way through 2016.Not that the COMEX 'selling' the same ounce of Silver to 44 different owners has anything to do with fraud.- Besides, if you're trading on the COMEX you are expected to understand an element of fraud is involved.Nor does this have anything to do with China, which may have added Silver bullion to its long-standing policy of Gold bullion acquisition.- Shanghai held 7.5 M ounces of physical Silver in August 2015, but now holds 60 M physical ounces. No worthless paper 'claim checks' for them, no sir.Once again the words of St. Ann of Barnhardt ring true: "If you're in these markets, you're either stupid or on drugs."- If you do not 'hold' it, then you do NOT own it. Settling a debt obligation with worthless paper claim checks won't work in either direction, whether payee or payor......
From Theo Spark at 09:57