Bank of England’s decades-long paper gold scam is collapsing under our eyes
London cash #gold contract default triggers a global physical gold rush: over the past 10 weeks, the world has witnessed large physical gold bullion flows into the US from all parts of the globe.
More than 2,000 tons (56M oz.) of gold have been moved into the US over the past 8 weeks – i.e. almost a quarter of all the theoretical US physical gold reserves.
The estimated 400M oz. of London market cash/spot gold #contracts for immediate gold ownership and settlement have now widely been shown in default, for an estimated 10M oz. of gold draw-down on London vaults.
#London gold spot/cash contract holders are under no illusion now - they’ve been had.
Two very large Swiss refineries (Metalor and Argor-Heraeus) have started to impose surcharges on their gold production or stopped production of some gold products.
Source: https://jensendavid.substack.com/p/now-the-deluge-london-cash-gold-contract
Really?