tfmetalsreport.com / By Turd Ferguson / November 30, 2015
For a fair and honest market, the latest developments might be significant and noteworthy, perhaps even troublesome. But remember, we’re not talking about a fair and honest market, we’re talking about The Comex, instead.
As the “delivery month” of December begins on the Comex…and before we begin another exercise detailing what a sham, charade and illusion this all is…please take a few moments to review the links below. This is hardly the first time we’ve tried to draw attention to all of this and it likely won’t be the last:
Again, the only reason that the Comex price for gold (and silver) has any relevance whatsoever is the alleged physical delivery that takes place at the price “discovered” through the trading of paper derivatives. Without physical delivery, the only “price” that is being discovered is the price of the paper derivative contract, itself. Thus, physical delivery is what gives relevance to the paper derivative price.
So, what happens when the Comex “delivery” process is exposed as a fraud, an illusion and a charade? Does this mean that the Comex paper derivative price can no longer be the basis for physical pricing worldwide? YES IT DOES! That, my friend, is the reason we so diligently chronicle this stuff month after month. And, boy oh boy, it sure looks like December 2015 is going to be a doozy.