Comex needs to default so that the gold miners can finally get some compensation for the work they do. Some are going bankrupt as their costs are so high, not to mention the frequent deaths in the industry. Comex is just a paper trade and its main use is so that the elite can keep a lid on the prices as they fear that the sheeple may wake up to the fact that gold is real money unlike the fiat currencies which are backed by nothing. If Comex does default gold will be priced at its true value.

I haven't heard anything about the Comex but a recent local story said a few of the coin/gold dealers have stopped selling gold simply because there sold out and don't have anymore coming... These same dealers have placed ad's in the newspapers and even TV trying to get people to bring in their gold... its not happening apparently?

There is another new recent development I heard in passing... Seems people who are offered to refinance there homes at lower rates are taking that money buying themselves a cheap foreclosed home, free and clear with the refinance money, then giving the old home back to the banks with no intention of ever repaying the loan... in essence they give up the big fancy house and settle for the more modest one but its paid for So it cannot be taken away.... now what do you think that will do to the bailout if that becomes a common practice?

Just another example of another aspect of the world's economy that started out as a pretty good idea, but got bastardized through greed at the hands of the people who could make the most money from it . . .

Let me ask you this . . . how much sense would it make for you to go to a grocery store meat counter and ask for a half dozen NY Strip steaks and the attendant behind the counter gives you a slip of paper that reads STEAKS on it . . .

You'd be standing there going What the hell is THIS?.

Puzzles the heck out of me that it actually works for things like gold . . .

But it does . . . in fact . . . I've got some 'gold' for sale . . . yeah . . . gold . . .

Any bidders . . .

Damn.

How come it works for them?