TF Metals Report: Cornering gold, JPM is taking nearly all Comex deliveries
Submitted by cpowell on Sat, 2013-12-07 18:34. Section: Daily Dispatches
1:30p ET Saturday, December 7, 2013
Dear Friend of GATA and Gold:
JPMorganChase is taking well more than 90 percent of the deliveries made against December gold futures contracts on the New York Commodities Exchange, the TF Metals Report's Turd Ferguson writes today. He argues that taking delivery would not be necessary if JPM's Comex long position was merely hedging short positions somewhere else.
Ferguson concludes: "JPM just wants their gold back before the current fractional-reserve bullion banking system breaks, prices skyrocket again, and a new global currency regime takes hold. And now, for the first time ever, they've cornered the Comex gold futures market in order to ensure that it happens."
His commentary is headlined "Q.E.D. II" and it's posted at the TF Metals Report here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold Anti-Trust Action Committee Inc.
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