Timber, how can there be a clearing house, when they have nothing to clear? Therefore, Comex appears to me, to be more of a bookie, trying to balance his ledger to both sides of a non-physical, make believe bet. And I guess if a ton of money comes for one side of the ledger, in this two horse race, and that side gets up... 'ouch' to the bookie, if they cannot pay.
Actually, I think COMEX exists for two reasons, as daMoney (French?) said, to control the price. And I think it is LET exist so banksters can play. I think either side could kill it at any time. But better to take a small win or absorb a small loss, and both sides can keep playing. And both sides do pick up commission for the tricks they represent - win or lose - every time.
