Friday, April 29, 2016 9:18:37 PM
As for my grammatical skills, I agree, they suck! People do not read my work to make sure whether proper tense or punctuation is correct, they read it for the logic. I try to take complicated subjects and break them down so the average person can understand what is happening. The logic in this case is there are several hundred ounces of gold/silver represented by paper contracts but backed by only one ounce. Put simply, COMEX is a fraud. A call on this contractual metal cannot be met because the metal simply does not exist. I believe when the “call” for delivery comes, COMEX will be forced to declare force majeure and settle with cash. As I asked in the article, is this a default or is it not? In the real world it will make no difference at all whether it is “legally” a default or not, “practically” IT IS! In the real world the prices of gold and silver will have exploded and the “cash” so generously provided by COMEX to “settle” will not purchase the ounces you thought it would. In essence, while gold and silver supplies go into hiding, you will be left holding a pile of devaluing and worthless dollars that will not “buy” what you were promised.
If you want to be “technical”, here are several passages from C
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