jpmorgan's eligible gold plummets 65% in 1 day, page-5

I am surprised this story is not the story of the century. Just think for a moment. If we heard 25% of all oil on earth was consumed in the last couple of months - surely the price would sky rocket.

But we are calmly hearing that JPM 'eligible gold' halved in one day. Well I guess that means by the time my words are typed, they must be empty.

It all can be explained with mumbo, jumbo. For example, Timber promises that clearing houses make sure buyers and sellers are lined up. Nobody can con the other. And yet, we have a lot of paper gold holders that dont have any physical gold behind the paper. Do the clearing housed have the gold.

And you know how we are told that paper gold is the same a physical gold (sorry to pick on you Timber). But for the last week we read dozens of articles about the disconnect forming between paper and physical gold. How can something disconnect from itself. If paper gold (ETFs, futures contracts) IS IS IS physical gold, how can it disconnect.

I guess it can disconnect the same way the Cyprus bank account holders 'digital stmts' disconnected from the Euro. Suddenly, the EURO was not there to back the numbers on the printed paper.

So, to me, this story is huge. As days and weeks pass it shows there really is not the gold there the banksters said was there.

How would you feel if you needed food for your family, so you forward bought wheat. In fact, you bought wheat for future delivery from a guy with a big storage silo. Only you find the silo is empty. And when you go to get your wheat, the guys says 'I have decided to settle you in a different way - not with wheat'.

What I find odd is my example shows a con to be a con. But when the wheat is gold. And the silo is a storage vault or bullion bank... few people can work out the con.