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Craig Hemke at Sprott Money: More on Comex 'exchanges for paper'
8:03p ET Wednesday, June 20, 2018
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing for Sprott Money, reports tonight that more gold and silver delivery obligations were transferred off the New York Commodities Exchange during Friday's smashdown than could possibly be delivered as use of the fraudulent "exchange for physicals" mechanism exploded.
"What," Hemke writes, "should an intelligent investor do? Once one recognizes the terminal fallacies of the current system, its inevitable downfall becomes obvious. To prepare for this eventuality one must simply acquire some physical metal, take delivery, and put it somewhere safe and handy. Do not under any circumstances accept paper warehouse receipts or the promissory notes of unallocated accounts. Leave those for the bankers and their clients."
Hemke's analysis is headlned "More on Comex 'Exchanges for Paper'" and it's posted at Sprott Money here:
https://www.sprottmoney.com/Blog/more-on-comex-exchanges-for-paper.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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