…obviously not enough gold & silver exists to cover the physical demand if holders of paper certificates in unallocated accounts demand delivery. It refers to the now open admissions that 100:1 leverage is used in gold inventory management at the metals exchanges.
Most likely only a small fraction of claims could be covered with the practical physical supply available…
That redemption price would be much less than the current physical price, which would continue to run higher apart from the defaulted settlement of the paper claims process.
QWAK,J4D,WOW! What a read --- he lays it out totaly -- did NOT miss a thing I can think of!
BUCKEL UP -- it is going to be a WILD RIDE to the MOON and beyond for REAL physical GOLD and SILVER -- not such a good ride for PAPER any thing, but people with paper GOLD and SILVER will CRY the loudist! :(
The economic DEVISTATION will be EXTREAM for any cought out in the open or deep in DEBT --- poverty will swallow them whole! :(
I think it is a matter of MONTHS at best till the DOLLAR DEVALUATION and the PAIN begins. :(