88%: this is the percentage by which the gold stock on the Comex has fallen in the past year. In recent weeks, the 'bosses' among the banks have rebuilt their gold reserves. In doing so, they tried to avoid the collapse of the Comex. Nevertheless, the Comex continues to have to deal with an exodus. And this exodus, according to many experts, could mean one of two things: an end to gold trading via the Comex, or the collapse of our current monetary system.
End of the Comex - or the monetary system
At the beginning of February this year, there were available contracts for 1.3 million ounces on the Comex. The current stock, which consists of only 439,000 ounces, makes it impossible to make these contracts available - without risk. Most contracts were concluded in cash. However, as the price of gold continues to decline, traders prefer physical value to having to rely on an 'invisible' contract and value. In this case, this could mean the end of the Comex and/or the entire current monetary system.
Role of the Comex played out?
However, the low stocks within the Comex can also mean that there is no or less interest in trading gold through the Comex. Gold producers may have found a better and/or more economical way to sell gold and presumably at a higher profit. However - nevertheless one must take into account a possible collapse of the Comex. When panic sets in, it is not inconceivable that the person who would previously have an aversion to physical gold will find himself at the front of the queue at a time like this. The role of the Comex has either been played out, or it is bigger than we could ever have imagined.
Source: http://srsroccoreport.com/
