In his latest alert to subscribers, legendary gold trader Jim Sinclair asks rhetorically where all of JPM’s gold has gone, and whether the gold banks are in the process of executing the COMEX. Sinclair states that COMEX is experiencing a death rattle, and that they will soon per-emptively raise margins in gold and silver to 100% cash to prevent a full default.
Where has all the gold gone?
Is this where all the gold in Morgan’s vault went?
Are the Gold Banks executing the Comex exchange?
This is the Death Rattle of the Comex exchange.
Gold and Silver exchanges are going to be forced to become cash spot contract physical exchanges.
The Comex will not wait until they have only one ounce left in the warehouse. They will once again change the rules of delivery and go to 100 percent margin.
Sinclair’s full alert is below: [Read more...]