We follow up on our earlier research about the London unallocated gold market and provide more detail on precisely how little gold the LBMA has.
We also point out that the COMEX is pushing gold deliveries to the London market, despite the fact that COMEX warehouse inventories are supposedly flush with free gold.
Either the COMEX is not being honest about free gold reserves in its vaults, or COMEX traders are collectively playing chicken with LBMA unallocated gold derivatives that are even more dodgy than the COMEX futures trades.
It really makes no sense to exchange COMEX futures for unallocated LBMA gold which has questionable integrity unless you have been told by the exchange you have no other choice.,
We also tie the issues with the LBMA the Basel III requirements for liquidity and how London bullion banks cannot meets their NSFR obligations with respect to the OTC gold market.
All of this amounts to a mountain of evidence that the Western markets have much less available physical gold than they are letting on.
Perhaps that is why between Jan 5th and Jan 8th, a massive naked futures short position was initiated on the COMEX to hammer gold down over $100 in price.
Perhaps in a bid to push investors away from gold into various derivatives like the stock market and the crypto currencies?
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