COMEX GoldCOMEX GOLD OI – June 10, 2016
As reported, June 10, 2016, on Harvey Organ’s blog:
https://harveyorganblog.com/2016/06/10/june-10huge-swing-towards-the-brexit-side-55-vs-45gld-advances-another-6-54-tonnes-up-to-893-92-tonnes-this-was-a-paper-addition-and-not-physical-goldjuly-gold-advances-another-234-contracts-or-2/ The total COMEX gold OI = 515,599* Futures Contracts
Total COMEX Registered Gold inventory = 1,655,331.926 ounces (51.487 tonnes**)
515,599* x 100 = 51,559,900 ounces – 51,559,900 / 32,150.746 = 1,603.692 tonnes**
1,603.692 tonnes** - 51.487 tonnes** = 1,552.205 tonnes**
1,552.205 tonnes** = Paper/Pretend Gold 51.487 tonnes** = Physical/Real Gold 30+ tonnes of Paper/Pretend Gold for each 1 tonne of Physical/Real Gold *1 COMEX Gold Futures Contract = 100 ounces
**32,150.746 ounces = 1 tonne gold
The numbers above –
Numbers = Reality; we are told how many Registered ounces/tonnes of gold exist in the vaults and we are told how many OI Futures Contracts are standing for same – a slight improvement over last week’s 32+ Paper/Pretend tonnes for each 1 tonne Physical/Real Gold. IMO, the `slight improvement’ is not just cause for throwing a party.
An interesting thing about the existence of the numbers shown above; those responsible for the discrepancies, (30+ to 1/32+ to 1) depend on investors, to turn the fairytales into realities, within their minds. Said another way, they (those responsible for the ongoing charade) ignore the facts, ignore the reality of what the numbers reveal and brazenly ask investors to do the same…. The implications may make you angry, (as an investor, they make me angry) the implications point to us, all of us, (as investors) being responsible for the current state of the markets; that and the fact that our individual complaints are only accepted as individual complaints, (the powers-that-be appear to ignore the total number of individual complaints). Maybe, just maybe, one day we will all stand at the same moment and cry out, “Enough of this, enough with the games, I want equal treatment for all and I want it now!” Maybe the `governing bodies’ will hear,,,, maybe – It should be quite evident to all, thus far the `governing bodies’ don’t hear us when, as individuals, we speak out.
JMT