Eventually some of the larger investors had to hear the whispers about ETF Precious Metal's magic conjuring tricks with paper. Any correctly informed child could do the Math on their fingers regarding the sudden growth of Silver over the last three years of ETF Silver activity.
As people heard from Rob Kirby some cursed big investor insisted on delivery of physical gold on a large gold option contract's maturity last week, and the London Bankster - didn't have it - couldn't find it - offered 125% if the buyer accepted USD - offered poorer spec gold as a substitute. - Perhaps they left it in the matress and forgot about it.
Now the next thing that has happened in London is that GLD's Friday Gold Bar List has suddenly started morphing in size - i.e. number of pages - between 195 and 1381 with some points in between. - More than just one or two small corrections needed now huh?
What does it all mean? Well Ron Kirby has his own Deep Throat informant who says:
“What can I tell you that you don't already know?
They are all scrambling big time since a number of large interests have demanded audits. Independent auditors are NOW descending onto the various vaults to verify, validate and certify.
They can move this as many times in circles as they like to try to
In an Asian depository they’ve found “Good Delivery” bricks that had been gutted and filled with tungsten.
Soon, there will be xxxx hitting the fan all over place.”
The writings on the wall folks - get physical gold or silver or gold or silver mining stocks - but get out of ETF's.
You can read Rob Kirby's full report here:
Disclosure: No ETF's, long on SLW, AUY, NEM