Gold Price should be $5000/ounce! Why?
Our Comex vaults are nearly depleted with physical gold as the ratio of actual claims (called paper gold) is some 542 ounces to each physical ounce available for delivery. Think about this! 542 ounces of paper gold (which should be called digital gold and/or imaginary gold) for each ounce of actual physical gold. What a deceptive market in gold when one considers the realities. Paper gold is equivalent to digital gold and digital gold is equivalent to imaginary gold. Does this make any common sense? Look at this chart for further evidence:
As the chart above shows – which is disturbing without any further context – the 40 million ounces of gold open interest and the record low 74 thousand ounces of registered gold imply that as of Monday’s close there was a whopping 542 ounces in potential paper claims to every ounces of physical gold.
Back in November 2015 the ratio of ‘imaginary gold’ to physical (deliverable gold) was 300 to 1! What a joke on the markets! Why are ‘naked’ shorts (also called uncovered contracts) allowed? Wake-up (manipulators)!
The deception at the Comex is astounding and reveals why trading of ‘naked’ shorts should be made illegal. What sense does it make to trade for gold which does not exist in real-time. What sense does it make to trade via the computer for ‘digital’ gold where no delivery happens. This is ludicrous and insanity. This same type of trading takes place with silver and this distorts all supply/demand transactions. Those who trade must live with false price signals and a false method of ‘price discovery’. Why does this continue with no real legal action against CME and the Comex? Wake-up miners! Wake-up traders! Wake-up media commentators! Our price discovery is a joke! Silver should be $150/ounce and gold should be $5,000/ounce! This would be closer to reality! I am: https://kingdomecon.wordpress.com.