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2020-

2020-04-03 c
Viral News - Midas has left the building.

What Are The LBMA And COMEX Trying To Hide?

Fast forward to today, and the parallels of the Pool with the modern bullion bank cartel, the London Bullion Market Association (LBMA) and CME’s Commodity Exchange (COMEX) are uncanny. In the space of a week, the LBMA – COMEX nexus, which together control price discovery in the global gold market through their combination of fractionally backed synthetic unallocated gold, and cash settled gold futures, has issued two statements to try to placate the gold market, each one more panic stricken.

Last week, as the contango between COMEX futures and London spot gold blew up to a nearly $100 differential, and London market maker bid-ask spot spreads blew out to $100, the LBMA in a rush to deflect attention, issued a statement claiming that:

“The London gold market continues to be open for business. There has, however, been some impact on liquidity arising from price volatility in Comex 100oz futures contracts. LBMA has offered its support to CME Group to facilitate physical delivery in New York and is working closely with COMEX and other key stakeholders to ensure the efficient running of the global gold market."

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Never before has the gold market seen such panic from the paper gold conductors, and all this in the presence of record physical gold demand, cleared out gold bars and coin inventories across the entire gold supply chain, closed down precious metals mints and refineries, and a price disconnect between the physical and paper gold markets.

The fact that the LBMA - COMEX tag team which front for the modern bullion bank cartel have to comment not once, but twice in a week about the health of gold inventories in London and New York means they are panicking. It's unprecedented.
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The entire LBMA - CME Group statement about healthy gold stocks is, in the words of Francis Bacon - “of Simulation and Dissimulation” - simulation being a pretense of what is not, and dissimulation being a concealment of what is.
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From this latest April Fool’s Day statement, we can conclude that the LBMA is terrified that unallocated investors who have claims on LBMA bullion banks, will line up to take allocation of gold in London, while the CME is terrified that COMEX futures contract holders will increasingly try to take physical delivery of gold in New York (not just delivery of warrants but actually withdrawing the gold bars out of the COMEX vaults.

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