Friday 3 April 2020

COMEX disconnected from Street Price................from Rico

Q: What is a contract worth if it cannot perform?
A: Zero, nada, zip, bupkis.
COMEX aka CRIMEX price has largely diverged from Street Price for Gold and Silver.
- The 'spreads' between the two are astonishing. For 1 oz. of Gold you need to 'add' +$200 to the COMEX price, and +$10 for Silver.
IF you can find any to buy, most suppliers are already 'sold out' of everything.
- Gold and Silver have become scarcer than toilet paper these days...if you don't already have some, you're out of luck. Sin loi, my boy.
BUT not to worry, it's become clear that COMEX trades PAPER (contracts) and not PHYSICAL bullion (well, if you consider that 1/10th of 1% of their trades are in physical).
- They do not....cannot...redeem their precious metals contracts in anything but greenbacks these days, and that's for the whales. For us mere mortals, there are no coins and mosyt mints have shut down.

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