Comments on: Comex Deliveries Update http://www.rapidtrends.com/2008/12/18/comex-deliveries-update/ Gold is Money, and nothing else..J.P. Morgan Sun, 18 Dec 2011 18:22:43 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Alex Stanczyk http://www.rapidtrends.com/2008/12/18/comex-deliveries-update/comment-page-1/#comment-2885 Alex Stanczyk Thu, 01 Jan 2009 19:00:26 +0000 http://www.rapidtrends.com/blog/2008/12/18/comex-deliveries-update/#comment-2885 "if the USG were to use the Comex as a conduit to access the gold reserves it basically returns the dollar to the gold standard at the current gold price" Very good point “if the USG were to use the Comex as a conduit to access the gold reserves it basically returns the dollar to the gold standard at the current gold price”

Very good point

]]> By: Mike Phillips http://www.rapidtrends.com/2008/12/18/comex-deliveries-update/comment-page-1/#comment-2883 Mike Phillips Thu, 01 Jan 2009 06:20:52 +0000 http://www.rapidtrends.com/blog/2008/12/18/comex-deliveries-update/#comment-2883 Alex, You are right. And also if the USG were to use the Comex as a conduit to access the gold reserves it basically returns the dollar to the gold standard at the current gold price, except that at that price the US only has $220b to back its currency. Not enough. So even if it does bail Comex out the game is changed. Mike Alex,

You are right. And also if the USG were to use the Comex as a conduit to access the gold reserves it basically returns the dollar to the gold standard at the current gold price, except that at that price the US only has $220b to back its currency. Not enough. So even if it does bail Comex out the game is changed.

Mike

]]> By: Alex Stanczyk http://www.rapidtrends.com/2008/12/18/comex-deliveries-update/comment-page-1/#comment-2881 Alex Stanczyk Wed, 31 Dec 2008 13:15:24 +0000 http://www.rapidtrends.com/blog/2008/12/18/comex-deliveries-update/#comment-2881 Hi Mike thanks for the comment. I agree with you, in that the US Gov probably has no qualms at all bailing out the COMEX. The interesting thing though is watching the supply demand fundamental in play here. All the other bailouts were to rescue failing "key" firms. This bailout would be to maintain a price manipulation! Hi Mike thanks for the comment.

I agree with you, in that the US Gov probably has no qualms at all bailing out the COMEX.

The interesting thing though is watching the supply demand fundamental in play here.

All the other bailouts were to rescue failing “key” firms.

This bailout would be to maintain a price manipulation!

]]> By: Mike Phillips http://www.rapidtrends.com/2008/12/18/comex-deliveries-update/comment-page-1/#comment-2879 Mike Phillips Wed, 31 Dec 2008 05:03:51 +0000 http://www.rapidtrends.com/blog/2008/12/18/comex-deliveries-update/#comment-2879 Alex, The silver situation is interesting as supply is restricted and the US Government doesn't have any. But gold is another matter. If, as the manipulation theorists claim, the US Government is aiding and abetting a ceiling on the gold price, don't look to the Comex running out of gold any time soon. The USG has 270m oz of gold and would lend some of it to Comex before it allowed Comex to default IMHO. Remember, we are in the new era of Government bail-outs. They can include gold! Mike Phillips Alex,

The silver situation is interesting as supply is restricted and the US Government doesn’t have any.

But gold is another matter. If, as the manipulation theorists claim, the US Government is aiding and abetting a ceiling on the gold price, don’t look to the Comex running out of gold any time soon. The USG has 270m oz of gold and would lend some of it to Comex before it allowed Comex to default IMHO. Remember, we are in the new era of Government bail-outs. They can include gold!

Mike Phillips

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