Monday, August 12, 2013

The Color-Coded Comex Crunch: Behind The JPMorgan Golden "Musical Chairs" Scramble

The mad scramble for physical gold at the COMEX continues with JPMorgan, HSBC, and Scotia feverishly shuffling between registered and eligible inventory (and vica versa) so JPMorgan can meet past due delivery requirements.  At this depletion rate, all three bullion banks will soon be trading fumes--at which point, this game of musical chairs ends with the Titanic sinking in a "force majeure" event.  No mas.

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