JohnQPublic
24th August 2011, 05:41 PM
Massive Criminal Raid on Gold and Silver/Problems Intensify in Europe and in the USA (http://harveyorgan.blogspot.com/2011/08/massive-criminal-raid-on-gold-and.html)
Harvey Organ
24AUG2011
" The estimated volume on the gold comex with no switches was an astounding 404,653. The confirmed volume yesterday was also astounding at 399,015. To give you an idea of how much gold paper was supplied in these two days, here is the math:
803,668 contracts x 100 oz per contract = 80,366,800 oz or approx 2500 tonnes of gold.
The world produces per year approximately 2300-2400 tonnes per year so in two days on the comex the entire world's production of gold was papered. And this bourse is not the largest. That belongs to London's LBMA. It is not rocket science to figure out that if you supply this kind of huge paper gold supply the price will fall. Ladies and Gentlemen, the comex is now one big crooked casino and again I urge you to stay away."
Harvey Organ
24AUG2011
" The estimated volume on the gold comex with no switches was an astounding 404,653. The confirmed volume yesterday was also astounding at 399,015. To give you an idea of how much gold paper was supplied in these two days, here is the math:
803,668 contracts x 100 oz per contract = 80,366,800 oz or approx 2500 tonnes of gold.
The world produces per year approximately 2300-2400 tonnes per year so in two days on the comex the entire world's production of gold was papered. And this bourse is not the largest. That belongs to London's LBMA. It is not rocket science to figure out that if you supply this kind of huge paper gold supply the price will fall. Ladies and Gentlemen, the comex is now one big crooked casino and again I urge you to stay away."