The biggest short squeeze in the world?, page-2951

Nah you haven't. And if you had a dollar for every post you make about gold/silver you could probably afford 2 months payment on your home loans.

LBMA don't check any of the vaults, they rely on their members to do it.

I know you still don't quite understand how these things work even after many years like you say. If their balance sheet can one day add 50 million ounces and the next day it is gone and "oops a mistake" do you not realize how easy it is to do anything numbers wise in that system? If they can't even detect a malfeasance on the magnitude of 50 million ounces in a 24h period before a report is compiled you think they can keep track of a million here, million there, over 30 years? Give me a break, their accounting system is a fraud with no reliable checking mechanism, it relies on human input from human members who can put whatever they want, wherever they want, provided they are a trusted member.

And it HAS to be this way so that they can run fractional reserve banking on actual physical items. It literally could be done today in a very secure, very transparent manner with virtually no ongoing costs. But will it ? No of course not, because the more monitoring, checking, transparency there is, the harder it is commit fraud.