IPFS News Link • Currencies
CME To Allow Gold As Collateral For All Exchange Products
• Market Skeptic The gold will be held at J.P. Morgan Chase & Co.'s/quotes/comstock/13*!jpm/quotes/nls/jpm bank in London. [extremely suspicious]
My reaction: I view this new CME policy as an act of desperation. The decision to “allow physical gold to be used as collateral for margin requirements on all exchange products”, against a backdrop of record prices and widespread abnormalities in gold markets, screams that something is wrong. This policy would never have been implemented unless JPMorgan really, really needed gold.