That line was only recently penned by the great Irish poet and philosopher, Paul Hewson. It no doubt applies here to our daily struggle against The Banks and their paper derivative pricing scheme.
“It is what it is but it’s not what it seems.” Yep, that’s a deft description on Comex Digital Gold and the pricing scheme that has prevailed now for nearly 43 years. Recall it was December 31, 1974 when Comex gold futures were introduced…not coincidentally the day before US citizens were once again allowed to legally own and possess physical gold. You can read all about it here: ***
And so here at the end of 2017, the cumulative amount of alchemized digital or synthetic gold “exposure” has reached a total that not even the writers of that 1974 memo could have envisioned. Unallocated gold. Gold futures. Gold swaps. OTC options. ETF shares. Levered ETF futures shares. You name it. It’s all used as a substitute for the real thing…actual physical gold. And so long as the fractional reserve confidence scheme continues, the world will never know just how much real, physical gold exists for private, institutional and sovereign investment.
This post was published at GoldSeek on Tuesday, 19 December 2017.