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On August 30th – i.e, nine days ago – I wrote “COMEX REGISTERED INVENTORIES – COULD DISAPPEAR ANY DAY!”  In it, I described the utter collapse of available-to-purchase “registered” gold bullion in the COMEX warehouses; which since April’s “ALTERNATIVE CURRENCIES DESTRUCTION,” have plunged an astounding 75%, from roughly 3,000,000 ounces to 700,000 ounces.  Without such inventory, the COMEX would cease to exist as a price-discovery mechanism; and since 99% of global price discovery has occurred on the COMEX since it was commandeered at the turn of the century, the odds of an all-out Cartel collapse would increase exponentially.  In fact, the unnatural backwardation we have experienced for the past six weeks would likely become PERMANENT; as going forward, trust that “futures contracts” are backed by actual metal would vanish into the ether.

Anyhow, the COMEX’s weekly inventory update was just published; and lo and behold, another 15,000 registered ounces were withdrawn, taking the total down ANOTHER 2% – to just 686,000 ounces.  Looking at the “ugly” chart below, what do you think will occur next?  Not to mention, given that JP Morgan has gone MASSIVELY long the gold futures market – via $20+ BILLION of purchases; whilst Goldman Sachs purchased $450 MILLION of GLD shares…

Comex Warehouses Registered