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Comex Gold default?
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Thread: Comex Gold default?

  1. #1
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    Default Comex Gold default?

    What would happen to silver if comex gold defaults first....this may become reality sooner than we would like to believe.


    http://finance.yahoo.com/blogs/daily...182933547.html

  2. #2
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    Quote Originally Posted by broox419 View Post
    What would happen to silver if comex gold defaults first....this may become reality sooner than we would like to believe.
    http://finance.yahoo.com/blogs/daily...182933547.html
    The Comex has defaulted every single month for the last twenty years! At least, that's what all the genius metals "analysts" have been telling us, right?

    Umm, BTW, they are called exchange approved warehouses. The exchange is not a warehouse. Tell us what you know about HSBC's vault and it's contents.

  3. #3
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    broox. You should have known to ask Matty first. Then you youldn't get the arrogant " I'm so much better than all of you " attitude in his voice.

  4. #4
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    Question Typical "Shelley" lie or delusion? You make the call.

    Quote Originally Posted by Matthew Shelley View Post
    The Comex has defaulted every single month for the last twenty years! At least, that's what all the genius metals "analysts" have been telling us, right?
    Wrong, as usual.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  5. #5
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    Quote Originally Posted by silverheartbone View Post
    Wrong, as usual.
    Uhhh, sarcasm. As usual.

    I don't suppose you have noticed that many of the metals "wizards" have talked about the default issue for years? And that they have told us about the long futures positions being bigger than the deliverables?(Which is the case in almost all futures trading by nature.)

    Maybe those that tell us what they "know" about trading futures might actually get involved in it one day, and find out what they don't know dwarfs what they "know".

  6. #6
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    Quote Originally Posted by Matthew Shelley View Post
    Uhhh, sarcasm. As usual.

    I don't suppose you have noticed that many of the metals "wizards" have talked about the default issue for years? And that they have told us about the long futures positions being bigger than the deliverables?(Which is the case in almost all futures trading by nature.)

    Maybe those that tell us what they "know" about trading futures might actually get involved in it one day, and find out what they don't know dwarfs what they "know".
    OK, simple delusion.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  7. #7
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    I believe Hugo will get his gold. Shouldn't we see the price be sustained around $1900 over the course of the next few weeks while these holding warehouses such as HSBC's go out to the market to get the physical metal? Also what if another nation with more gold reserves demands physical, lets say Germany looking to avoid being leveraged as the sovereign debt crisis unravels? I would think that would be a real problem....

  8. #8
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    Quote Originally Posted by broox419 View Post
    I believe Hugo will get his gold. Shouldn't we see the price be sustained around $1900 over the course of the next few weeks while these holding warehouses such as HSBC's go out to the market to get the physical metal? Also what if another nation with more gold reserves demands physical, lets say Germany looking to avoid being leveraged as the sovereign debt crisis unravels? I would think that would be a real problem....
    I know it's just a stretch, but isn't there a chance that his Gold is setting in the Monster vault under Manhattan controlled by the US Federal Reserve Bank and not all of these individual banks? You know, the one that has all these different piles of Gold belonging to different countries all around the world. There are four such vaults. One in NY, UK, France and India. Who knows where his Gold is setting. The world body doesn't want that gold being dispersed to the owners countries. How do you think they freeze assets? Hugo is probably getting a little paranoid after seeing whats taking place in the middle east and doesn't want someone freezing his assets. Hell, we don't trust them and we aren't dictators.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  9. #9
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    Quote Originally Posted by valerb View Post
    I know it's just a stretch, but isn't there a chance that his Gold is setting in the Monster vault under Manhattan controlled by the US Federal Reserve Bank and not all of these individual banks? You know, the one that has all these different piles of Gold belonging to different countries all around the world. There are four such vaults. One in NY, UK, France and India. Who knows where his Gold is setting. The world body doesn't want that gold being dispersed to the owners countries. How do you think they freeze assets? Hugo is probably getting a little paranoid after seeing whats taking place in the middle east and doesn't want someone freezing his assets. Hell, we don't trust them and we aren't dictators.
    Vale, I had to dig this one out for you:

    http://www.latimes.com/business/la-f...,3466318.story

    And since we're on the topic of Germany, sounds like they want their gold too according to the LA Times article. I didn't it would go down so quickly but here we are. Big deal right? Just go and get them their gold right? They own the second most gold in the world, to only the US (and that's debatable). If they don't deliver or find tungsten in those bars get ready for some real fireworks.

    A question for paper traders: if physical gold and silver (particularly gold) are not significant, then why does the New York Fed house 25% of the world's gold supply?

  10. #10
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    Quote Originally Posted by broox419 View Post
    Vale, I had to dig this one out for you:

    http://www.latimes.com/business/la-f...,3466318.story

    And since we're on the topic of Germany, sounds like they want their gold too according to the LA Times article. I didn't it would go down so quickly but here we are. Big deal right? Just go and get them their gold right? They own the second most gold in the world, to only the US (and that's debatable). If they don't deliver or find tungsten in those bars get ready for some real fireworks.

    A question for paper traders: if physical gold and silver (particularly gold) are not significant, then why does the New York Fed house 25% of the world's gold supply?
    Great question broox. I would coment however I'm not a paper guy, It's physical for me. I'm not sure NY has much either. Sure would like to see it, after all it is ours. An audit sure is in order.

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