Failure to deliver on gold futures contracts

ksammut

Interesting article if true.

Failure to deliver on gold contracts

Weiss

I'm not sure I believe that one. Heck, he even claims he doesn't believe it

Bear

People on this Forum have been predicting that this was going

to happen for the past 6 months. This is something that will

happen, it only remains to find out when.

ksammut

This from Jim Willie:

" A surge in the gold price cometh, perhaps imminently. In the next several weeks, the gold price might jump quickly to the $1500 level. A contact with excellent access to gold transaction information and developments has shared that the sharp price rise could come very soon "due to certain transactions that are being consummated at this very moment. Even if the Boyz try to hold own or depress the price, it will do them no good. The pressure that has been built up is uncontrollable. We shall see some big banks hit the wall very soon (weeks/months). The market will take over in very short order from here on forward." A phase has begun to remove illicit corrupt controls on the gold & silver market, from demand of physical bullion.

The same source told a story about events at the London Bullion Market Assn. That market is to London what the COMEX is to the United States, both deep in corruption and government interference, where grossly inadequate metal inventory exists to maintain their charades of markets, each dominated by paper pricing. They manage paper markets for syndicates in total illegal operations. Several large gold futures contract holders are demanding physical delivery in London. The LBMA does not have the metal in inventory. The officials have offered the futures contract holders cash plus 25% dividend for settlement without gold delivery. The contract holders refused. They want their fuchn gold (using a French term by the source, my unique palatable spelling)!!! There was very high volume involved in the contracts. The standoff is not settled. It could go to court. The London authorities are trying desperately to keep the story from hitting the press. It helps to have the syndicate in control of the press networks. The Bank of England and one other European member central bank are working feverishly to fill the contract order, but unfortunately they are using very old gold bars that are reportedly only 90% gold. That invites a new potential challenge.

The gold market could soon explode and possibly work toward a convergent fair market. My hint is that it is Germans and Swiss with other Europeans are working diligently and pointedly to kill off the US-UK bank nazis. A LBMA and COMEX bust and default is visible on the horizon. See the Jackass article entitled "Hitman Contracts to Bust Comex" (CLICK HERE) dated in May 27. It would include big bank ruin and legal prosecution. The same source hinted that the ruin of commodity exchanges could coincide with the bust of JPMorgan. So, based upon the London incident, gold has a real price of near $1300."

derryb

Jim Willie is da man!

CaptHenway

<< <i>Interesting article if true.

Failure to deliver on gold contracts >>



The key words here are: "if true."

cladking

<< <i>This from Jim Willie:

" A surge in the gold price cometh, perhaps imminently. In the next several weeks, the gold price might jump quickly to the $1500 level. A contact with excellent access to gold transaction information and developments has shared that the sharp price rise could come very soon "due to certain transactions that are being consummated at this very moment. Even if the Boyz try to hold own or depress the price, it will do them no good. The pressure that has been built up is uncontrollable. We shall see some big banks hit the wall very soon (weeks/months). The market will take over in very short order from here on forward." A phase has begun to remove illicit corrupt controls on the gold & silver market, from demand of physical bullion.

The same source told a story about events at the London Bullion Market Assn. That market is to London what the COMEX is to the United States, both deep in corruption and government interference, where grossly inadequate metal inventory exists to maintain their charades of markets, each dominated by paper pricing. They manage paper markets for syndicates in total illegal operations. Several large gold futures contract holders are demanding physical delivery in London. The LBMA does not have the metal in inventory. The officials have offered the futures contract holders cash plus 25% dividend for settlement without gold delivery. The contract holders refused. They want their fuchn gold (using a French term by the source, my unique palatable spelling)!!! There was very high volume involved in the contracts. The standoff is not settled. It could go to court. The London authorities are trying desperately to keep the story from hitting the press. It helps to have the syndicate in control of the press networks. The Bank of England and one other European member central bank are working feverishly to fill the contract order, but unfortunately they are using very old gold bars that are reportedly only 90% gold. That invites a new potential challenge.

The gold market could soon explode and possibly work toward a convergent fair market. My hint is that it is Germans and Swiss with other Europeans are working diligently and pointedly to kill off the US-UK bank nazis. A LBMA and COMEX bust and default is visible on the horizon. See the Jackass article entitled "Hitman Contracts to Bust Comex" (CLICK HERE) dated in May 27. It would include big bank ruin and legal prosecution. The same source hinted that the ruin of commodity exchanges could coincide with the bust of JPMorgan. So, based upon the London incident, gold has a real price of near $1300." >>




I don't believe this.

Insiders would already be making the first moves which would bring on the total and utter collapse of the financial system.

This story has been brewing for days so it can't be true.

sinin1

I believe it, a short squeze would explain the $50 pop last week




although demanding delivery would take buku bucks for tons of the stuff

Wolf359

We seem to have an update. Again, true or not?

ksammut

Thanks Wolf.

I was just about to post a link to Kirby's article.

cladking

<< <i>We seem to have an update. Again, true or not? >>




This is truly frightening.

I believe all it would take is for large numbers of people to believe the contracts
can't be settled to bring on armageddon.

The central banks have no choice whatsoever but to use all gold at their disposal
to back gold.

CaptHenway

I am quite skeptical that a default of this magnitude could be kept quiet if it had really happened, or was happening now.

Talk is cheap. Where are the facts?

ksammut

Another interesting article:

Fungible Gold stored by the Treasury?

CaptHenway

<< <i>Another interesting article:

Fungible Gold stored by the Treasury? >>



I look askance at the fact that he thinks that pre-1934 U.S. gold was 22kt.

It was .900 fine, which is equal to 21.6 kt.

TD

roadrunner

I am quite skeptical that a default of this magnitude could be kept quiet if it had really happened, or was happening now. Talk is cheap. Where are the facts?

Facts of gold supression from the London gold pool in the 1960's and in the early 1970's are just starting to show up from FOI released paperwork. These guys are experts in keeping a lid on things. How many thought derivatives would bring down the monetary system back in 2004-2005? Most had never even heard of them until it was too late in 2008. After all, there were no real "facts," no symptoms, etc. And even after the cracks started to show in summer of 2007 all our regulators and officials were waving the "all clear - mission accomplished" sign. In truth, the magnitude of the default that was coming was keep secret for years until we all found out about it personally in the fall of last year when the SM fell apart following the Lehman bust. If you're waiting for the facts to show up on the front page of the WSJ, that's when gold will already be at $1500.

Dr. Fekete has been accurately calling the monetary system roadmap for a number of years now. I wouldn't discredit him on a simple difference from 21.6 vs. 22 karat. How many people actually talk in decimals of carats for anything? The US coin gold from the 1930's confiscation is more than "adequately" described for open discussion when it's called 22 karat (ie it's not 18, it's not 20 and it's not 24). The real key is that it is not 24 karat (.995 or better) and does not meet the requiremements for London good delivery bars. Unless the US has been shoveling this gold off to the markets over the years to help manage the gold price, 100% of it should be in Fort Knox. To my knowledge no one else among the modern Central Banks ever created a hoard of 22 karat coin gold bars (ie confiscated the people's gold).

roadrunner

Wolf359

The Bullion Desk website is reporting that ETF Securities saw 15.5 tonnes of gold redemption requests on week

"The gold exchange traded commodity (PHAU) run by ETF Securities saw a massive 15.5 tonnes of redemptions in the week to Oct 18...."

CaptHenway

<< <i>The Bullion Desk website is reporting that ETF Securities saw 15.5 tonnes of gold redemption requests on week

"The gold exchange traded commodity (PHAU) run by ETF Securities saw a massive 15.5 tonnes of redemptions in the week to Oct 18...." >>



Looking for info on ETF redemptions, I ran across this:

link

jmski52

no one else among the modern Central Banks ever created a hoard of 22 karat coin gold bars

How many major refiners are there for gold in the world? If this was actually happening, wouldn't there be leaks from the facilities where the gold was being reprocessed?

I guess I should also ask, how many secret gold refiners are there in the world?

Just speculating here.

CaptHenway

<< <i>no one else among the modern Central Banks ever created a hoard of 22 karat coin gold bars

How many major refiners are there for gold in the world? If this was actually happening, wouldn't there be leaks from the facilities where the gold was being reprocessed?

I guess I should also ask, how many secret gold refiners are there in the world?

Just speculating here. >>




You mean besides the one in the Fortress Of Solitude????????

roadrunner

How many major refiners are there for gold in the world? If this was actually happening, wouldn't there be leaks from the facilities where the gold was being reprocessed?

The 1930's were a long time ago. Today, I would imagine anyone refining coin gold bars or older coin old would not waste their time pouring it back into 22 karat 400 oz. bars. The big players need 24k good London delivery bars for trade.

roadrunner