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.
http://www.zerohedge.com/news/2013-08-12/color-coded-comex-crunch-behind-jpmorgan-golden-scramble
Monday, August 12, 2013
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