It started this year when Germany inquired for 300 metric tons of their gold which was supposedly being held at the New York Fed. There would be no difficulty in such demand if the New York Fed really did have as much personal gold as they assert they do. But the Germans were notified that it would take seven years to fulfill the demand. All over the globe inquiries for their gold back have begun, and now this is making large tension for the bullion banks. Hong Kong hedge finance manager William Kaye notified the following report…There are grave strains in the (gold) system. Never before I mentioned such a serious damage in terms of the backwardation of gold, and in terms of the lease rates being contradictory for such a long period of time. This suggests that there are two forces portraying: there are big strains in the system — that the bullion banks coming up with the physical gold to fulfill what the market demands.
The demand for physical gold is blowing up all over the globe, and bullion banks are now experiencing a supply crunch that is absolutely unprecedented. As personal demand continue to rise, the huge Ponzi scheme that the bullion banks have been engaged in is going to become increasingly conspicuous, and at some point the need of physical gold is going to shatter the back of the paper gold market and we are proceeding to glimpse the cost of proceed to levels that we have not ever glimpsed before. You glimpse, the truth is that the world center banks the bullion banks have made "paper pledges" that vastly exceed the allowance of actual physical gold in reality. This kind of scheme works fine if every person does not come asking for their gold at the identical time. Unfortunately for the ones running this scheme people are now beginning to ask for their gold back and it is causing gigantic difficulties.
Right now the bullion banks are experiencing unprecedented adversities and coming up with the personal gold and personal silver that they are presumed to have. Some of this evidence was summarized in a latest Jim Willie comment…
It's so ugly that in the silver market, JPMorgan has not yet satisfied and delivered on the June silver futures contracts! It's so ugly that using hidden entities that Andrew Maguire has detected in London, JPM is using hidden entities to hog 90% of the July silver deliveries!  It appears that JPM doesn't have the silver to meet June delivery.
The JPM clients had taken about 40,000 kg of gold that's 40 metric tons in period between December and June. While JPM's house account has removed over 40 tons in the same period! What can we learn from this? It appears JPM's best friends and clients don't trust them anymore!
My best source (originally a trader with Scotia Mocatta) tells me that the allocated gold account raids have resulted in 40-60,000 tons of gold!  (The US likely doesn't have any of these 8,500 tons reported at all!). Rubin and Clinton might have made $2-$3 trillion leasing and trading the US gold. Someday the US may have to replace its gold.
We've had other things like ABN Amro's default, and another Dutch bank just made the same statement that they're not going to redeem on gold accounts. Morgan Stanley is stalling on every single metals transfer request. When it is finally transferred the serial numbers and weights appear to be different than it was documented. Clearly the broker dealers are going into the market to find the gold, to find supply just in order to meet their daily requirements.
The Brinks' accounts are going to bare almost down to zero – these are all problems on the supply side!
At some point the need of personal gold and the need of personal silver are going to become glaringly apparent to the general public, and at that issue we could glimpse at a basic shift in the marketplace. Keith Barron speculated on what the "trigger" for this move might be during a latest interview with World News…
All I know is that this ‘trigger' which is going to ignite this move is coming, and it will involve substantial repricing of both gold and silver. One possible the ‘trigger' may turn out to be a malfunction of the COMEX. We do understand that there is a lack of physical gold for delivery, and that's because so much gold is going to Asia right now
You can glimpse by the cost activity in the U.S. dollar right now that the Asians are dumping their dollars. They are furthermore giving a premium to receive personal gold right now with no hold up in shipment. There is a loss of faith in the paper gold and silver markets by major participants. It's looks like they expect a failure.
Barron is fully assured that we will eventually glimpse a "breaking" of the COMEX which will shock the world…
I firmly believe there will be a point in the future when this sort of event triggers a run on the COMEX, and more and more entities are going to ask for physical delivery. This will have the effect of breaking the COMEX and creating a failure. If that might happen we would see an explosion in the prices of gold and silver that will literally shock market participants around the world.
The bullion banks should never have made so many empty paper promises. There is only so much physical gold out there. Warren Buffett one time estimated that if all of the gold in the entire world was gathered into one location, it could be formed into a cube that would only be 69 feet long, 69 feet high, 69 feet broad.
That isn't a whole allotment of personal gold. But there is a huge allowance of "paper gold" out there today. In fact, as I noted lately, the Reserve Bank of India says that "the traded allowance" of paper linked to gold exceeds by far the actual physical gold provided: the capacity on the London Bullion Market Association (LBMA) OTC market and the major Futures and choices Exchanges was OVER 92 TIMES that of the underlying personal Market."
Did you grasp that? The book bank of India states that there is more than 92 times "paper gold" compared to personal gold. This is why you desire to own personal gold. And right now the global appetite for personal gold is absolutely voracious. According to CNN, buyer demand for personal gold is now at a record high as never before.
Those who wish to obtain some profit snapping up gold jewelry and coins as investors desert the metal and world prices plunge.
Global consumer demand for gold hit its highest level ever in the second quarter, spiking to 1,083 tons, up 53% compared to the same time last year. Most of that demand came from Chinese and Indian consumers are rushing to buy jewelry, coins and gold bars.
In fact, according to the newest World Gold Council Gold Demand tendencies report, demand for gold bars and gold coins in the second quarter was up 78 per hundred over the same quarter last year…
Globally, jewelry demand grew up 37% in Q2 2013 to 576 tones (t) from 421t in the same quarter last year, reaching its highest level since Q3 2008. In China, demand was up 54% compared to a year ago; while in India demand increased by 51%. There were also significant increases in demand for gold jewelry in other parts of the world: the Middle East region was up by 33%, and in Turkey demand grew by 38%.
Bar and coin investment grew by 78% globally compared to the same quarter last year, topping 500t in a quarter for the first time. Taking jewelry demand and bar and coin investment together, global consumer demand totaled 1,083t in the quarter, 53% higher than a year ago, was seen by KRSFX analysts. Chinese demand for gold bars and coins surged 157% compared with the same quarter last year, while in India it jumped 116% to a record 122t.
As experts of the "Masterforex-V Academy" says for the tenth consecutive quarter central banks were net buyers of gold, purchasing 71t, which reinforces the trend that began in Q1 2011.
All of this personal demand is putting a marvelous amount of force on the paper market. At some point the paper market is going to shatter.
The demand for physical gold is blowing up all over the globe, and bullion banks are now experiencing a supply crunch that is absolutely unprecedented. As personal demand continue to rise, the huge Ponzi scheme that the bullion banks have been engaged in is going to become increasingly conspicuous, and at some point the need of physical gold is going to shatter the back of the paper gold market and we are proceeding to glimpse the cost of proceed to levels that we have not ever glimpsed before. You glimpse, the truth is that the world center banks the bullion banks have made "paper pledges" that vastly exceed the allowance of actual physical gold in reality. This kind of scheme works fine if every person does not come asking for their gold at the identical time. Unfortunately for the ones running this scheme people are now beginning to ask for their gold back and it is causing gigantic difficulties.
Right now the bullion banks are experiencing unprecedented adversities and coming up with the personal gold and personal silver that they are presumed to have. Some of this evidence was summarized in a latest Jim Willie comment…
It's so ugly that in the silver market, JPMorgan has not yet satisfied and delivered on the June silver futures contracts! It's so ugly that using hidden entities that Andrew Maguire has detected in London, JPM is using hidden entities to hog 90% of the July silver deliveries!  It appears that JPM doesn't have the silver to meet June delivery.
The JPM clients had taken about 40,000 kg of gold that's 40 metric tons in period between December and June. While JPM's house account has removed over 40 tons in the same period! What can we learn from this? It appears JPM's best friends and clients don't trust them anymore!
My best source (originally a trader with Scotia Mocatta) tells me that the allocated gold account raids have resulted in 40-60,000 tons of gold!  (The US likely doesn't have any of these 8,500 tons reported at all!). Rubin and Clinton might have made $2-$3 trillion leasing and trading the US gold. Someday the US may have to replace its gold.
We've had other things like ABN Amro's default, and another Dutch bank just made the same statement that they're not going to redeem on gold accounts. Morgan Stanley is stalling on every single metals transfer request. When it is finally transferred the serial numbers and weights appear to be different than it was documented. Clearly the broker dealers are going into the market to find the gold, to find supply just in order to meet their daily requirements.
The Brinks' accounts are going to bare almost down to zero – these are all problems on the supply side!
At some point the need of personal gold and the need of personal silver are going to become glaringly apparent to the general public, and at that issue we could glimpse at a basic shift in the marketplace. Keith Barron speculated on what the "trigger" for this move might be during a latest interview with World News…
All I know is that this ‘trigger' which is going to ignite this move is coming, and it will involve substantial repricing of both gold and silver. One possible the ‘trigger' may turn out to be a malfunction of the COMEX. We do understand that there is a lack of physical gold for delivery, and that's because so much gold is going to Asia right now
You can glimpse by the cost activity in the U.S. dollar right now that the Asians are dumping their dollars. They are furthermore giving a premium to receive personal gold right now with no hold up in shipment. There is a loss of faith in the paper gold and silver markets by major participants. It's looks like they expect a failure.
Barron is fully assured that we will eventually glimpse a "breaking" of the COMEX which will shock the world…
I firmly believe there will be a point in the future when this sort of event triggers a run on the COMEX, and more and more entities are going to ask for physical delivery. This will have the effect of breaking the COMEX and creating a failure. If that might happen we would see an explosion in the prices of gold and silver that will literally shock market participants around the world.
The bullion banks should never have made so many empty paper promises. There is only so much physical gold out there. Warren Buffett one time estimated that if all of the gold in the entire world was gathered into one location, it could be formed into a cube that would only be 69 feet long, 69 feet high, 69 feet broad.
That isn't a whole allotment of personal gold. But there is a huge allowance of "paper gold" out there today. In fact, as I noted lately, the Reserve Bank of India says that "the traded allowance" of paper linked to gold exceeds by far the actual physical gold provided: the capacity on the London Bullion Market Association (LBMA) OTC market and the major Futures and choices Exchanges was OVER 92 TIMES that of the underlying personal Market."
Did you grasp that? The book bank of India states that there is more than 92 times "paper gold" compared to personal gold. This is why you desire to own personal gold. And right now the global appetite for personal gold is absolutely voracious. According to CNN, buyer demand for personal gold is now at a record high as never before.
Those who wish to obtain some profit snapping up gold jewelry and coins as investors desert the metal and world prices plunge.
Global consumer demand for gold hit its highest level ever in the second quarter, spiking to 1,083 tons, up 53% compared to the same time last year. Most of that demand came from Chinese and Indian consumers are rushing to buy jewelry, coins and gold bars.
In fact, according to the newest World Gold Council Gold Demand tendencies report, demand for gold bars and gold coins in the second quarter was up 78 per hundred over the same quarter last year…
Globally, jewelry demand grew up 37% in Q2 2013 to 576 tones (t) from 421t in the same quarter last year, reaching its highest level since Q3 2008. In China, demand was up 54% compared to a year ago; while in India demand increased by 51%. There were also significant increases in demand for gold jewelry in other parts of the world: the Middle East region was up by 33%, and in Turkey demand grew by 38%.
Bar and coin investment grew by 78% globally compared to the same quarter last year, topping 500t in a quarter for the first time. Taking jewelry demand and bar and coin investment together, global consumer demand totaled 1,083t in the quarter, 53% higher than a year ago, was seen by KRSFX analysts. Chinese demand for gold bars and coins surged 157% compared with the same quarter last year, while in India it jumped 116% to a record 122t.
As experts of the "Masterforex-V Academy" says for the tenth consecutive quarter central banks were net buyers of gold, purchasing 71t, which reinforces the trend that began in Q1 2011.
All of this personal demand is putting a marvelous amount of force on the paper market. At some point the paper market is going to shatter.