Another expert:
“No! No! No!
Bear Stearns is fine!!!”
Jim Cramer
Mar 2008
“No! No! No!
Bear Stearns is fine!!!”
Jim Cramer
Mar 2008
Beware of false prophets......
What you think of Cramer ain't my problem and has nothing to do with my point.
Here's a fact:
Open interest at the Comex as of 12/12 for Dec gold: 811 contracts.
Here's another fact:
Delivery notices at the Comex as of 12/12 for Dec gold: 37 contracts.
Here's another fact:
Total deliverable gold in Comex warehouses: 8,553,831 ounces.
Enough to deliver 85,538 contracts.
So, what do we have?
Open December gold contracts that amount to 1% of Comex stocks.
Most of which will be closed without making or taking delivery. Just as usually happens, month after month, Sinclair or any other rabble-rouser notwithstanding. This entire pile of baloney has been propagated and repeated for the last 30 years, ad nauseam.
We may now safely conclude that you are, in fact a tool who will believe anything. It must be true! I saw it on the internet!