Why won't the miners fight back?, page-24

Hi Timber
I am not talking of Gold Futures.
Futures, shorts, longs and CFD are all forms of gambling about a particular price direction, they do not purport to sell you an asset they are purely gambling regarding your guess/estimation of the future price
They are not necessarily good for the stock market which is why the authorities ban them in times of strife but they are legal legitimate moves

I'm talking of the pseudo gold certificates that are sold in place of PMs
There does not appear to be an accurate figure but the PM dealers have the ability to sell anything up to and over 100 times the amount of PMs that they hold.

There are plenty of reports regarding the fact that there has been many times the amount of gold sold that has ever been mined.
Do calculations on silver as to the sale and usage figures, none of it adds up

The plain simple fact is that PMs have been sold in quantity that do not exist
There is no restriction or control on the system to only sell what you have in stock once and the dealers rely on the fact that traders are trading and do not want the problems of taking actual delivery and as long as there is no run on their stocks they are safe

Banks operate on the basis that for every dollar invested they are legally entitled to lend out (what) $24.00 I am not certain on the actual figure and it floats anyway and the people who deal in PMs do the same

What is so hard to understand, or do you refuse to accept this fact and to ignore that it even exist is naive in the extreme