Is there a website or article that explains derivatives, how they work, and why they are used? Is the thrust of the article that JP Morgan et al. have piled up more sell obligations in gold than there is physical gold available at the current price of around $310/oz?
(I'm afraid this one's too much for my feeble little liberal arts brain.)
For a more indepth study, go
HERE.
Be sure to follow the links in the article to his "two previous essays" to get more background on the derivatives.