OTCQX:BGMZF - Post by User
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delazuson Jun 28, 2015 3:36pm
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Post# 23875349
COMEX "GOLD" FED BAIL-OUT? ONLY IF "INT`L SWAPS" LIVE!
COMEX "GOLD" FED BAIL-OUT? ONLY IF "INT`L SWAPS" LIVE!
Did COMEX Just Receive A Physical Gold Bailout From The Feds? Rgd`s delazus From: Gold Broker.Com Editorial Team Editorial Team: Egon von Greyerz Dan Popescu Philippe Herlin Fabrice Drouin Ristori Jun. 9, 2015 4:34 PM ET | 117 comments | Includes: C, GS, JPM, MS Editorial Team: Egon von Greyerz Dan Popescu Philippe Herlin Fabrice Drouin Ristori Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...) Summary •On June 1, 2015, JPMorgan added almost exactly enough ounces of physical gold to patch the deficiency between supply and delivery demand at COMEX, avoiding widespread dealer default. •Declassified documents, along with strong circumstantial evidence indicate that it was not JPMorgan, but its most important customer, the US Federal Reserve, that just bailed out COMEX. •The deficit in world physical gold supply will be at least 606.1 tons in 2015, but may be much larger, and similar incidents are likely in the future. •The deficit in world gold supply versus demand will grow much larger in 2016 and beyond. •Even if the entire remaining US gold reserves were mobilized, prices could not be permanently held down to current levels, making gold and gold mining stocks a good deal now.