Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Did the ECB Save COMEX from Gold Default?
#1
  • 30th March Deutsche Bank gives notice of delivery of 850,000 ounces of gold to fulfill its obligation to Longs demanding delivery on the March COMEX futures contract.
  • On 31st March the ECB makes surprise announcement of the sale of 1.1 million ounces of gold to an undisclosed purchaser.
  • On the same day Deutsche Bank delivers the 850,000 ounces to a COMEX Warehouse.

Interesting - if obvious - questions raised at 'Seeking Alpha'

My two pennyworth: The incidence of futures contract longs demanding physical delivery on expiry is going parabolic. There were rumours of an impending default right up to the December expiry. It did not materialise in spite of the largest ever physical delivery required. The above article makes a credible case for DB having been saved from a default by the ECB on the March contract. All eyes now turn to June where I have no doubt it will be a close run thing again but with the much ballyhoo'd 'inevitable price explosion' still tantalisingly on the horizon.

Da Boyz are still in control.
Peter Presland

".....there is something far worse than Nazism, and that is the hubris of the Anglo-American fraternities, whose routine is to incite indigenous monsters to war, and steer the pandemonium to further their imperial aims"
Guido Preparata. Preface to 'Conjuring Hitler'[size=12][size=12]
"Never believe anything until it has been officially denied"
Claud Cockburn

[/SIZE][/SIZE]
Reply


Possibly Related Threads…
Thread Author Replies Views Last Post
  Where's the Gold - odd things happening down at the Comex Chris Bowen 36 14,946 17-01-2013, 08:39 PM
Last Post: Jan Klimkowski
  New U.S. strategy: Going for the gold (Wayne Madsen) Ed Jewett 0 3,601 29-09-2011, 07:34 AM
Last Post: Ed Jewett
  Venezuela Asserts Control of Gold Mining Industry Carsten Wiethoff 1 1,838 20-09-2011, 10:20 AM
Last Post: Magda Hassan
  U.S government Confiscating rare gold coins...worth millions of dollars Bernice Moore 4 4,018 01-09-2011, 05:07 AM
Last Post: Bernice Moore
  How to get $12 billion of gold to Venezuela Magda Hassan 0 1,570 25-08-2011, 03:40 PM
Last Post: Magda Hassan
  Former Goldman Commodities Research Analyst Confirms LMBA OTC Gold Market Is "Paper Gold" Ponzi Magda Hassan 0 1,581 29-03-2010, 01:22 PM
Last Post: Magda Hassan
  Yet Another Scam - Student Loans & Forcing Default Peter Lemkin 9 4,064 16-05-2009, 04:59 PM
Last Post: Myra Bronstein
  NYSE Runs Out of Gold Bars: What Happens Next? Peter Presland 29 10,317 02-04-2009, 08:32 AM
Last Post: Peter Presland
  U.S. pulls the plug on the world (to save the dollar) Paul Rigby 6 3,045 04-11-2008, 07:17 PM
Last Post: Paul Rigby
  BIS Engaged in Gold Swaps to About 380 Tonnes Magda Hassan 0 2,586 Less than 1 minute ago
Last Post:

Forum Jump:


Users browsing this thread: 1 Guest(s)