Time to buy Gold… As Much As You Can!
If you watch our presentation at www.itmightbeofinterest.com you will know we have always said that most of the gold traded on the market, (spot price gold), doesn’t exist.
Well it’s much worse than even we thought! People have now started asking for their gold and JP Morgan/COMEX only has about 27 bricks of good delivery gold left!
They have been selling bits of paper for €30 per gram and millions have been conned by it.
So the next time someone tells you they can buy gold cheaper on the “markets” you can tell them for a fact that they are buying fresh air! Its a big ponzi scheme which is coming to an end!
If there ever was a clearer sign to buy as much physical gold as you can this is it! People will now have to turn to companies like Karatbars where they can guarantee they are buying the real thing! Your opportunity as a customer and/or business partner could not be clearer.
Read on…. you couldn’t make this up!
Artice from Tlyer Durden at zerohedge.com
One week ago, when we reported the record plunge in registered gold held by the various Comex gold warehouses in general, and JPMorgan in particular, which saw the “gold coverage” ratio, or the number of paper claims through open futures interest for every ounce of deliverable gold, soar to what we then thought was a record, and unsustainable 207x, we thought this situation would be promptly rectified as a few hundred thousand ounces of eligible gold would be “adjusted” back into the “registered” category.
Not only has this not happened, but with every passing day the situation is getting progressively worse.
According to the latest Comex vault data, not only was another 157K ounces withdrawn today, but the conversion of Registered into Eligible continues, and as a result another 10% of total deliverable gold was “adjusted away”, leaving just 163,334 ounces of registered gold: the lowest in Comex history.
As a result, the ratio of Eligible to Registered gold is now a record high 41.2x in the history of the Comex.
Once again the culprit for the decline was JPM which saw not only a 122,124 ounces of Eligible gold be withdrawn, reducing the total by 13% to 750K ounces, but 8.9K ounces of registered gold was pushed into the Eligible category, in the process reducing total JPM registered gold by 45% overnight to a paltry 10,777 ounces: this amounts to only 335 kilograms of gold, or just 27 bricks of “good delivery” gold.
Finally, since aggregate gold open interest continues to remaing consistent at just about 41 million ounces of gold, today’s latest ongoing reduction in deliverable Comex gold means that as of yesterday’s close, there was a record 252 ounces of gold paper claims to every gold physical ounce of currently available and deliverable gold.
To summarize: last week we were confident that JPM would promptly adjust a few hundred thousands ounces of Eligible gold back into Registered status to silence growing concerns about Comex distress.
A week later we are not as concerned by the relentless surge in paper gold dilution, as we are that JPM still has not even bothered to do this. Especially since with just 335 kilograms of gold, or less than 27 bricks, JPMorgan is now just one withdrawal request away from running out of deliverable physical gold.
The opportunity here is huge to get your hands on and much gold bullion as possible and take advantage of the huge surge in gold prices which is now inevitable!
Karatbars 5 Gram price today – Just €210 / That’s €42 $47 or £30 per gram. (using your 3% discount code) If you need a code let me know!
What an amazing time to be promoting Karatbars Gold and what a great opportunity to be on the right side of a looming crisis! Login to your account at www.karatbars.com and start saving in real gold today.
If you have any questions or need help my support desk is always open to help..
Until next week…
Ola Awoliyi – Karatbars Partner