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Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at... More
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  • J.P. Morgan COMEX Gold Unwinding Continues 2 comments
    Jan 28, 2014 3:47 PM | about stocks: GLD

    Remember when I posted this here about the COMEX unwinding?

    It is continuing and it's again J.P. Morgan who is unwinding. At this rate, I give it until mid March 2014 until it implodes.

    Stocks: GLD
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  • The_Hammer
    , contributor
    Comments (5152) | Send Message
    <<I give it until mid March 2014 until it implodes.>> what is your thoughts on what happens when it implodes?
    28 Jan 2014, 08:18 PM Reply Like
  • Katchum
    , contributor
    Comments (615) | Send Message
    Author’s reply » Then things happen like the potato default of 1976. The COMEX can't deliver futures contracts and everything implodes. Willem Middelkoop estimates a $1000/ounce rise in a matter of days if it happens. And gold hub center will be traded in China instead of COMEX.
    29 Jan 2014, 02:14 AM Reply Like
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