Monday, June 10, 2013

COMEX Confirms That Its Gold and Silver Inventory Reports Are 'For Novelty Use Only'

Well now. How would like to get your bank statement in the mail from JP Morgan or Bank of America and see this disclaimer added at the bottom:

"The information in this account statement is taken from sources believed to be reliable; however, JP Morgan Chase & Co. disclaims all liability whatsoever with regard to its accuracy or completeness. This account statement is produced for information purposes only."

[My account statement is 'for novelty use only'?!?!]

How would feel about that? That's pretty much the equivalent of what the attorneys for the CME/Comex have done by adding the statement at the top to their daily gold and silver warehouse stock reports.

That disclaimer was not in Friday's warehouse stock report, it was on yesterday's (03-Jun-2013.)


For anyone who has witnessed what happened with MF Global and the illegal hypothecation of customer assets, a situation in which JP Morgan is/was inextricably tied, if you believe that Wall Street is willing to hypothecate the sacred customer accounts but would not hypothecate or lease out Comex gold, then you are either tragically naive or terminally ignorant.


soniya mishra said...

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