"Oddly enough, the data from the Office of the Comptroller of the Currency report on Derivates shows that only two banks, JPM and HSBC, are holding almost $124,000,000,000 in gold derivatives between them, approximately 98% of all gold derivatives in the world. At $850 per ounce, that represents about 145,882,353 ounces of gold."
If I've done the math correctly, these derivatives equate to 4500 tonnes, about two yrs worth of production.
Is that a problem? If so, would 450 tonnes still be a problem? If not a problem, how about 45,000 tonnes? I have no idea how to assess the risks here and to decide what amount is acceptable and what is not.
Rowingboat.
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