Comex prices aren't real, so root for them to go to zero
|  |
Submitted by
cpowell on 05:45PM ET Wednesday, October 1, 2008. Section:
Daily
Dispatches 8:405p ET Wednesday, October 1, 2008
Dear Friend of GATA and Gold (and Silver):
Futures market analyst Dan Norcini remarks in his nightly commentary at Jim
Sinclair's Internet site that the gold futures contract on the New York
Commodities Exchange seems to be losing traffic to the gold exchange-traded fund on the stock exchange, probably because traders are beginning to realize that the government is rigging metals prices on the Comex.
Many of us remain glued to the commodities exchange price around the clock even as
we realize that it does not signify the price of real gold and silver, that the price of metal in hand is substantially above the commodities exchange price and that, indeed, little if any metal at all remains available to retail purchasers.
Of course we watch the commodities exchange price so closely in large part because we hold not only real metal but also shares in mining companies and because the stock market is using the commodities exchange price to fix the value of the mining shares.
But insofar as the commodities exchange is the primary mechanism of the
market-rigging fraud, a mechanism in which the infinite amounts of investment house and central bank money can stampede all other traders, we should be wanting the commodities exchange price of the metals to
fall to zero, indicating the worthlessness of a commodities exchange contract. For that would be the great repudiation of the price-suppression scheme, an understanding that the U.S. government and the exchange itself would never permit large amounts of metal to be withdrawn -- that
force majeure would be declared first and cash settlement would be imposed, as
has been done with other commodities contracts when longs have gotten the upper hand.
You can find Norcini's analysis here:
http://www.jsmineset.com/cwsimages/Miscfiles/6621_October0108Gold1230pmC...CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee
Inc.
Hardinvestor
Accueil 
Edito 
G.Sandro 
» COMSTOCK MINING Inc. (NYSE : LODE) Fil dédié:
» WORLD WAR III ? je suis vert de rage d'ouvrir ce fil dédié, on serre les miches: on commence avec Gerald Celente
» Les Podcast et interviews de David Brady, Sprott, Rick Rule, Katusa, Bix Weir, etc...SILJ (Hardin mini-fonds Silver Juniors et Royalties)
» Uranium /minières uranium
» a quoi joue la Russie ..
» TREASURY METALS PFS publiée edit: *NB: TML est devenue NEXTGOLD (NXG)
» Wheaton précious metals/ WPM
» Comment l'Union européenne nous prend pour des imbéciles