COMEX admits NO gold/silver on hand? Maybe...

Breaking: The Comex Confirms That Its Gold and Silver Inventory Reports Are Fraudulent!

Well now. How would like to get your bank statement in the mail from JP Morgan or Bank of America and see this disclaimer added at the bottom:

“The information in this account statement is taken from sources believed to be reliable; however, JP Morgan Chase & Co. disclaims all liability whatsoever with regard to its accuracy or completeness. This account statement is produced for information purposes only.”

How would feel about that? That’s pretty much the equivalent of what the attorneys for the CME/Comex have done by adding the statement at the top to their daily gold and silver warehouse stock reports. That disclaimer was not in Friday’s warehouse stock report, it was on yesterday’s.

silverdoctors.com...


Would this have anything to do with the amount of "physical" gold and silver at COMEX is at an all time low?

www.zerohedge.com...


As we have been seeing lately, when it comes to precious metals if you don't hold it, you don't own it. Been several examples - from Dutch bank ABN Amro in which you have to take a cash settlement (even though you were storing your gold there), the Swiss Customer whose gold was entrusted to a Swiss bank and the customer is told he can remove NO More then 57 Gold Eagles to the collapse of the Hong Kong Mercantile Exchange.

Is this the start of COMEX and JP Morgan event in which they to take their customers precious metals?

reply to post by MidnightTide


If they can do the fractional reserve thing to paper money and make
cash out of thin air why not do it to gold and silver.

I mean it's not like everyone going to take all the shiny stuff out of the banks at
the same time is it

reply to post by skuly


Well some people are starting to, and some institutions are saying - No, take this fiat instead.

The game changer for me that shows how bad things are getting was the MF Global, when suddenly laws / rules are changed to support the business and not the investor you know it is time to get out.....not to mention the haircut Greek bond holders got or the Cyprus event.