no deliveriesRanting Andy Hoffman joins the SGTReport to discuss the COMEX and the fraud that is paper gold.
The COMEX is one very bad joke. And technically speaking, the Comex is in DEFAULT on the December contract… and the whole world knows it.

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  1. @The-Doc
    You guys have proven you know how delivery works on comex, and therefore you must know that not only the headline, but the context in which it was pulled, are factually false statements.
    I don’t expect or even care to ask for an edit. Just like the msm, you lose credibility with posts like this.

    What is happening in gold and at the comex is very interesting in it’s own right, I have been saying that since May. Hyping this with factually false and sensationalistic statements is not necessary.

    • Here’s your EDIT
      Ranting Andy: “COMEX is in Default on December Gold Contract!”

      added “quotes”, Now, it is factually and technically CORRECT.
      It’s all on ANDY. The headline is simply quoting him.

    • It’s also on Sean, SGT Bull
      And I also don’t care for sticking up for the CRIMEX’s shady “bookkeeping”* tactics, Andy said it has not came out of the reported stock yet (still over 400,000) even if it gets delivered later. It’s all a paper dodge and it’s all on the guys on the video, I have no problem with this headline and feel it is 100% accurate.
      So, just when will the 200,000 come out of the books if the CRIMEX plays by their own “rules”* exactly???
      IDK how it “works”* so enlighten me
      *euphemistically speaking of course, and with maximum disdain for these criminal puppets of the MOPE Masters

    • Lol at your first reply, that is one way to skin it.
      COMEX facilitates the peer to peer transfer of ownership on the day following the delivery notice. The transfer occurs via a paper document called a warrant or warehouse receipt, similar to a title on a vehicle.  The gold physically does not have to move.
      Real world… you buy a car from your friend, your driveway is full so he parks it on the street, comes in… you pay him and he gives you the title. You now own the car, even though it’s not in your driveway. You can go get it whenever you want.

    • According to:
      “During President Reagan’s first term, Kudlow was the associate director for economics and planning, Office of  Management and Budget,  Executive Office of the President, where he was engaged in the development of the  administration’s economic and budget policy.”
      OK, so technically, that means that he did work for Reagan, albeit at a level considerably below that of White House staffers.

    • Maybe “claim” was the wrong choice of words. I knew he did, but dislike the fact that he is throwing it around now. He is an agent of disinformation as much as the worst ones out there. He’s saying the economy is getting better, and that there is no way the U$D can crash. wow 

    • A month or so ago Deutsche Bank removed itself from trading in markets other than precious metals, to curtail its losses.  Now it is no longer part of the Gold Fix (a group of 6, I believe).  Am I sensing a separation between Germany and the Fed.?   And now, no longer a part of any insider trading?  Europes elections this year will be rather interesting.  Listen to Nigel, if only politicians like him could set the course of mankind…

  2. KLUMMAC is on TV yapping how NSA is a really good thing for chasing terrorists. Hmmmm.  Missed me!! hehehehehehe.
    The Phantom
    PS  KLUMMAC is like Gumby.  He is so flexible he can shove his head up his ass and talk out his Pokey. 
    Kind like a talking Tesseract featured in an Escher drawing. 
    He says we need the NSA to prevent the bad guys from stealing from our bank accounts, health records and credit cards.
    Well duh!
    The gummint can’t stand the competition
    Chasing terrorists? Puhleeeze. The biggest terrorist in the world occupies the Oval Office. He’s killed more people in the Middle East than the 9-11’ers did in NY. Ahh, I mean the House of Saud and Baby Bush

      We need YOU to stop STEALING EVERYTHING!!!
      Signed, “The REAL AMERICANS” (excluding the RE-tards and the Illegals, who were never “REAL” anyway)

  3. ‘ol Jim Willie told Turd in a podcast interview late last year that his buddy, “The Voice”, said that Deutsche Bank was the top bank in the world that was extremely close to toppling over the cliff.  He said they were one of three banks that had been having to work 24/7 night and day to do everything they could do to keep the bank afloat.  I think he said to look for a huge merger at some point between Deutsche Bank and another big bank, but I can’t remember which one he said it might be. 

  4. You better hope the crimex doesn’t default because you know what will happen. An the answer is always the same out come. The government causes the problem so they can fix the problem which causes yet more problems. Here is what happens if the comex defaults. Within days could be more like hours. The government will move in an save the day. They will freeze the market at a set price tell they can figure what it should be. Since there will be no one to set the price in usa. They will eventually come out an set the pm prices higher my guess anywhere from 10% to 15% over the manufacturer world average price to produce it. An yet to guarantee that price you will have to sell the  u.s. government. Or plain 2 Even worse they say they want to back the dollar with gold at some percent so they will recall all gold an silver again.

    • No, to begin with you need to trust that deliveries happen according to their rules.  Whenever I was on either side of that in my past life I had zero problems.

    • I am reminded of that famous Wall Street disclaimer about, “Past performance does not guarantee future results.”  This can also be applied to many situations, particularly as to time.  A cup of coffee in a local restaurant used to be a nickel too but now it is a dollar, etc. Yes, we are all guided by our experience but we need to be mindful of the fact that the world is changing and that because of these changes, some of our experiences are no longer valid.  The trick lies in knowing which ones still apply and which do not.  😉

    • Nothing wrong with questioning the world around you, and I will never be one to criticize someones position unless I have a strong reason to do so.  Factually incorrect statements rub me the wrong way for some reason.  That is not the same as a rushing endorsement for everyone to sell phys and conver to a paper product, but to understand the paper has its place, and for the past 40 years has, and is still, functioning without an all out default.

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