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basserdan

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basserdan

Re: None

Friday, 05/25/2012 8:02:58 PM

Friday, May 25, 2012 8:02:58 PM

Post# of 43389

Fed Will Backstop a Run On the Exchange

Posted by Jesse
25 May 2012

The situation remains rather volatile and open to an exogenous event.

Gold has not yet broken its downtrend. We do have the option expiration under out belts at least and are entering a heavy delivery season.

I thought it was interesting that the US government has directed the Fed to backstop the Comex and ICE in the case of a liquidity event or a run on the exchange.

In that event be ready to accept a forced settlement in paper, and to possibly forsake any metal held in custody at an exchange depository to a soft confiscation, ie, it was not there in the first place and will lost to a wave of defaults.

http://jessescrossroadscafe.blogspot.com/2012/05/gold-daily-and-silver-weekly-charts_25.html








Dan

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