A Link For GATA

Thu, Apr 2, 2020 - 11:00am

As the new-and-improved Comex delivery charade continues for April, additional details are being brought forth to assure the world that there is plenty of gold available for immediate delivery. That's nice. What's always left out, however, is how many separate entities believe they own each and every ounce. 20? 50?? 100???

So let's begin today with another check of the Apr20 gold "deliveries". As of last evening, the total has reached 21,909 contracts for 2,190,900 ounces of gold.

And check all of the "reinforcements" that were added to the vaults yesterday. Yep, that's a cool 20 metric tonnes for both JPM and Malca...allegedly flown into Kennedy airport on a direct charter from London and then driven directly to the vaults where it was quickly weighed, assayed and verified.

RRRRrrrriiiggghhhttt. It's all bullshit. Just like the "pledged" and "enhanced" garbage that has been used to distract for the past several months. What's really going on? Let's have the CME themselves explain it to you:

QUOTE: Physical delivery via Comex bars (of which there are obviously none), kilo bars (of which there are very few) and London bars...which are only deliverable through a a book-entry certificate called an "Accumulated Certificate of Exchange".

"Trust us", says the LBMA. Take delivery of a Comex contract and we'll hold your gold in London in certificate form: http://www.lbma.org.uk/_blog/lbma_media_centre/post/joint-message-from-c...

Remember, of the alleged 8,000+ metric tonnes of gold in the LBMA vaults, over 5,000 belong the Bank of England and nearly 2,000 are pledged to the ETFs. So it's an obvious and deliberate misrepresentation for the LBMA to claim that thousands of tonnes stand available for immediate delivery.

Screenshot below from this link: https://www.bullionstar.com/blogs/ronan-manly/lbma-gold-vault-data-release/

Unfortunately, I'm sure that most in the world will continue to fall for this scheme. At least the charade of all this is beginning to sink in for some people. Here's "Bond King" Jeff Gundlach warning investors to stay away from the sham/fraud/scam GLD: https://www.bloomberg.com/news/articles/2020-04-01/gundlach-sounds-alarm...

But, whatever. The London Gold Pool worked for seven years and, right up to the last day, it operated as if nothing was wrong and all was well. Until it wasn't. The day of reckoning for the LBMA/CME Gold Pool is coming, as well.

<This post excerpted from the daily TFMR subscriber update of April 2, 2020>

More info on TFMR

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 4/20

4/20 8:30 ET Chicago Fed
4/21 10:00 ET Existing home sales
4/23 8:30 ET Weekly jobless claims
4/23 9:45 ET Markit flash PMIs
4/24 8:30 ET Durable Goods

Key Economic Events Week of 4/6

4/8 2:00 ET March FOMC minutes
4/9 8:30 ET Producer Price Index
4/10 8:30 ET Consumer Price Index

Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Key Economic Events Week of 3/23

3/24 9:45 ET Markit flash PMIs
3/25 8:30 ET Durable Goods
3/26 8:30 ET Weekly jobless claims
3/27 8:30 ET Personal Inc and Spending

Key Economic Events Week of 3/9

(as if these actually matter)
3/11 8:30 ET CPI
3/12 8:30 ET weekly jobless claims
3/12 8:30 ET PPI
3/13 8:30 ET Import Price Index

Recent Comments

by Turd Ferguson, 25 min ago
by Montross515, 25 min 53 sec ago
by scoremore, 51 min 43 sec ago

Forum Discussion