Indiana Jones wrote:The goldcomex is a fractional reserve gold system (a gold promise system) and when markets figure out it is a hoax, they want physical only. Every fractional reserve system is built upon confidence and when that confidence breaks, people want to get out.
I certainly do not agree with your view here.
The participants are not in the market for the gold. Gold is unnecessary and terrible to store.....they're only in for the digits-profits. So your point that participants don't know it's a fractional reserve is definitely not true. Every blind man on the planet knows.......and doesn't care.
So the confidence part is IMO not valid also. Everybody is playing this paper game on purpose, knowing they run the risk of ending up with nothing. Ask Celente......shouting afterwards as he did before, but instead of only shouting he better should take measures to get the phys
Maybe we disagree on this. Many still think that they can get delivery when asked for. Sinclair has a special participant who can solve comex deliveryproblems for people and they actually get physical gold deliveries out of the comex vaults. I've read jsmineset for many years now and it seems there are still people who invest in comexgold. He strongly discourages them to do so.
Everything that needs to be said has already been said.
But since no one was listening, everything must be said again.