23 "The 10 ‘official’ market makers are ICBC, Agricultural Bank...

First 14 Last

Share
Profile

Follow
timber1956

7,424 Posts.

152

18/04/16

18:10

Post #: 17535130
Share

Originally posted by 23skidoo ↑

There are 2 gold markets.
The "casino" Comex paper market which doesn't rely on real supply and demand for gold, and
The real bullion market.
Up until tomorrow, the casino market has been able to control the GP, and to hide the fact that Real gold is in short supply.
Tomorrow China enters the market in gold metal, fixing it's price in Yuan.
From tomorrow, anytime the bullion banks attempt to drive the Comex GP down, investors will be able to immediately close out their positions, demanding real gold, and sell on the Shanghai exchange at a higher price. This process is known as arbitrage. The problem for the Comex is that it's not set up for gold delivery. They have run down their bullion to just enough to maintain the pretence of gold delivery. What makes it work is that all parties in the Comex know the "game".
The Comex has been serving 2 masters, boosting the profits of the bullion banks and capping the GP in service of the US Treasury.
The US is about to lose control on gold and silver. Hold onto your hat!
23.

Expand

23

"The 10 ‘official’ market makers are ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China CITIC Bank, China Merchants Bank, Industrial Bank Co, Bank of Ningbo and ANZ (China)."

Ten banks. Four of them are owned by the Chinese government. No leading names in the world bullion market.

Forgive me if I'm not impressed.

I doubt if these guys will be able to do business without a liquid derivatives market to lay off the risk, so they will probably be using COMEX.
3 Upvote

Reply

Top Stories

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

Almonty Industries – Now it is getting critical!

MTM

MTM Crit Metals hits +1,870% returns YoY – but fundamental questions remain

ASX Market Close: IT surges as Miners dumped | June 18, 2025

MEM

Many are concerned about global falling birthrates. This diverse stock has solutions

There are more pages in this discussion • 132,377 more messages in this thread...

First 14 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

23 "The 10 ‘official’ market makers are ICBC, Agricultural Bank...

Top Stories

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

Almonty Industries – Now it is getting critical!

MTM Crit Metals hits +1,870% returns YoY – but fundamental questions remain

ASX Market Close: IT surges as Miners dumped | June 18, 2025

Many are concerned about global falling birthrates. This diverse stock has solutions

Featured News