RE: RE: John Embry's Latest on Gold Reportstelioff....John Embry has a great point about COMEX....COMEX allows traders to sell naked....phantom gold, or other commodities....that's the problem. For every ounce of real gold, or silver out there....there is 99 ounces of phantom gold and silver. This not only gives the commodities a false value......This type of trading can lead to the total collapse of the world financial system as it is right now.
COMEX should only allow commodity backed shorts....not naked shorts.......that is the problem.....read deeper the next time.........Richard