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Phantom Gold Inventories: Has The Comex Already Defaulted?

In the spring of last year, and on the heels of the Cyprus “bail in”; informed investors know there was a global stampede into physical bullion – and out of the banksters’ fraudulent paper-called-gold “products”. In reporting on those events, regular readers saw the following headline:

Paper-Gold Holders Flee To Real Metal

The evidence seemed conclusive. The Cyprus Steal triggered the realization among the Smart Money that no paper asset in the Western world was safe, any longer. That realization instigated the stampede out of the banksters’ paper-called-gold. Total holdings of the largest of the paper-called-gold fraud funds (the SPDR Gold Trust, or “GLD”) ultimately fell by approximately 40%.

However, as investors were liquidating 10’s of millions of ounces of what the bankers call “gold”; the Comex’s gold inventories didn’t rise by 10’s of millions of ounces. In fact those inventories didn’t rise at all – they collapsed. This seemed to indicate that investors were redeeming their GLD paper, and extracting real, physical gold to replace it.

Recent evidence, however, suggests an entirely different interpretation of the precisely synchronized collapse in holdings of the banksters’ paper-called-gold and “official” Comex inventories. But before readers can grasp the significance of this new information, it’s necessary to first visit the silver market – and revisit an old-but-familiar form of inventory fraud which has been covered extensively in previous commentaries.

Long-time readers of my commentaries are familiar with the charts below:

What we notice first is the dramatic, and unprecedented collapse of (Western) silver inventories. In a mere 15-year span (1990 – 2005); we see inventories plummet by more than 90%, from approximately 2.2 billion ounces to (roughly) a mere 200,000.

Read more: Phantom Gold Inventories: Has The Comex Already Defaulted?

 

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