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<p>[QUOTE=&quot;John the Jute, post: 602928, member: 17740&quot;]Hi Yankee,</p><p>&nbsp;</p><p>The whole of the article you quote is on the Web at</p><p>&nbsp;</p><p><a href="http://news.goldseek.com/GoldenJackass/1243519200.php" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://news.goldseek.com/GoldenJackass/1243519200.php" rel="nofollow">http://news.goldseek.com/GoldenJackass/1243519200.php</a></p><p>&nbsp;</p><p>It&#039;s fascinating but, in my view, a bit over the top. He&#039;s certainly correct that many Comex contracts, for 100 ounces of gold each, are sold by people who do not expect to be asked for a 100 oz bar when the contract expires ... they expect to settle up in cash. And he&#039;s probably correct that many of them do not have a 100 oz bar for each contract in the first place.</p><p>&nbsp;</p><p>This merry-go-round is threatened by Germany and Dubai taking physical metal out of the system: in the first quarter of 2009, Germany imported 59 tonnes and Dubai 140 tonnes. But I doubt whether this is due to any attempt &quot;to lay waste to the vehicles used by the US-UK bond trafficking syndicate totally saturated with corruption, dishonesty, and collusion, replete with greed, totally absent conscience.&quot;</p><p>&nbsp;</p><p>In the case of Germany, a lot of citizens are buying physical gold as a hedge against any damage the credit crunch may do to the euro. An entrepreneur has even set up his first slot machine dispensing gold bars:</p><p>&nbsp;</p><p><a href="http://jetzt.sueddeutsche.de/texte/anzeigen/476803" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://jetzt.sueddeutsche.de/texte/anzeigen/476803" rel="nofollow">http://jetzt.sueddeutsche.de/texte/anzeigen/476803</a></p><p>&nbsp;</p><p>In the case of Dubai, the success of Exchange Traded Funds tied to gold has meant the purchase of many tonnes of gold ... which they want to keep in the vaults of the Dubai Multi Commodities Centre rather than in London:</p><p>&nbsp;</p><p><a href="http://www.business24-7.ae/articles/2009/5/pages/12052009/05132009_4d115a2aa5da4d69b8e7350a8875bd9d.aspx" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.business24-7.ae/articles/2009/5/pages/12052009/05132009_4d115a2aa5da4d69b8e7350a8875bd9d.aspx" rel="nofollow">http://www.business24-7.ae/articles/2009/5/pages/12052009/05132009_4d115a2aa5da4d69b8e7350a8875bd9d.aspx</a></p><p>&nbsp;</p><p>Both of these developments will reduce the liquidity of the markets in New York and London, but I&#039;m not (quite) willing to read conspiracies in them.</p><p>&nbsp;</p><p>Later,</p><p>&nbsp;</p><p>John[/QUOTE]</p><p><br /></p>

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