Doc: Your website is excellent and provides valuable guidance to all us little guys.
With the trillions of dollars the BRIC nations have at their disposal for investment why don’t they crush the comex right now by overwhelming them with buy orders and standing for delivery. The comex would have to default because they couldn’t possibly cover. Why don’t they do it or why have they not already done it?
John in Philadelphia
John- Eastern investors and nations would rather have artificially cheap gold and silver than crash the comex. Why stand for delivery on the CRIMEX in size if you know you will lose your money when the bullion banks can’t deliver and force you to settle for paper (when you already have $700 billion of US paper you are trying to extricate yourself from) , when you can acquire mining and base metals firms using your treasuries instead? Why not use the CRIMEX to your advantage and let the paper futures pricing mechanism give you a discount on your mining acquisitions?
The COMEX will be made irrelevant as large buyers bypass it and go directly to the source (mining companies) to acquire physical metal. We are already seeing this- Eric Sprott went directly to miners for his recent PSLV placement. Expect this to only increase in the coming months and years as more and more investors and end-users bypass the fraudulent paper futures market entirely, and go directly to the source for their physical metal needs. The COMEX will likely fade into irrelevance before it is broken and completely drained of physical metal.