If they get the margin calls out by Saturday, the customers have 24 hours to get more money to their brokers. If the money is not received by Sunday night or Monday morning, the positions will have to be liquidated, just when the market is at its lowest liquidity and the longs have had all weekend to think about it and the media has had time to tell everyone that the bull market in gold is over."
Consider the 500 tons of paper gold sold on Friday. Begin with the question, how many ounces is 500 tons? There are 2,000 pounds to one ton. 500 tons equal 1,000,000 pounds. There are 16 ounces to one pound, which comes to 16 million ounces of short sales on Friday.
Who has 16 million ounces of gold? At the beginning gold price that
day of about $1,550, that comes to $24,800,000,000. Who has that kind of
money? (Editor's note: Actually there are only 12 troy ounces to a pounnd. So they only dumped 12 million ounces or $18,200,000,000 worth of paper gold.)
Jim Willie CB 4 April 2013
"The Shanghai Metals Exchange sports a significant useful practical Gold price spread, higher than the posted London and New York price. It has opened the door for arbitrage for the last two months or more. My firm suspicion is that the BRICS Development Fund will convert USTreasury Bonds by means of the Shanghai window, thus draining the London centers of their gold bullion."
| Radio/TV • Declare Your Independence with Ernest Hancock|
Declare Your Independence with Ernest Hancock - Radio
Host: Ernest Hancock
04-12-13 -- Mike Dugger - Charles Goyette (MP3 & Video LOADED)
Program Date: 2013-04-12
Mike Dugger (former AZ libertarian party chair and friend of the Hancock's) comes in studio to talk about the Uniform Securitization Scheme (the birth scam) - Charles Goyette provides an update on the market
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