Retail Market Exchange
I don't know where exactly to put this, so here goes.
I see that a bear market is underway in gold. What??? Wait a minute... A bear market in PAPER gold, that is. Not in PHYSICAL gold. If you look to physical buying activity on the US Mint, coin shops, Hong Kong, mainland China, Japan, especially India, you'll find exactly the opposite. It seems to be that we're seeing premiums of a minimum average of $5 above spot. If this keeps up, eventually, you may see $50 silver with premiums of $100-150 above that. That sounds ridiculous, and it is! Why don't we do something different instead??? Set up a Retail Market Exchange, where sellers of physical metal like refiners, coin shops, and others selling up to 100 oz bars electronically submit their ask/bid prices every day to a central place where prices are arrived at somehow (averaged out?) and shown on a floating price chart. This is to be completely separated from COMEX and any other paper exchange market around the world.
WHY??
Because COMEX represents the LEAST desirable form of silver (in this case). Not only is it paper silver, also if you want delivery, guess what, you'll be getting industrial bars weighing around 1,000 troy ounces, roughly. This is one way to break away from COMEX.
Please discuss this in a constructive manner as to why it will or will not work.
