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Something stinks

Posted:

Dr. A. H. Krieg

Latest Report from the COMEX:

 

Paper to silver ratio is 338 to 1.

In other words for every ounce of silver on deposit there are 338 paper certificates that are unbacked by actual silver.

The market is now very short, most dealers are unable to deliver actual silver it’s just not available.

 

Gold is because of value is worse: the ratio of gold is 228 to 1.

In other words for every ounce of gold on deposit there are 228 paper certificates that are unbacked by actual gold. 

The problem with gold is that there isn’t any in storage in reasonable amounts.

 

LBMA (London Bullion Market Association) does not allocate gold by serial number to accounts. So if you have a deposit slip for gold it most likely is a promissory note to pay, that is unbacked by actual gold. The Swiss Physical Gold Fund allocates ownership by SR # on the bar. BLMA uses Fractional Reserve Banking whereby they are required to hold 10% of actual product and can issue 90% paper promissory notes for 90%. So for every ton of gold, they issue 9 tons of paper gold certificates. (Fiat) There is absolutely no way they can make good on this, if there is a run on gold. They could not even cover with fiat paper money, they don’t have the asset base. There is no way they could purchase 9 tones of gold, nobody except perhaps the Russians and India, South Africa and China have such amounts available.

 

Fort Knox is empty; that would be my guess, why has the FRS refused anyone to audit their reserves, i.e. our reserves? Why has the NYC central bank of the FRS refused audits? Why have the $4.7 trillion of quantative easing of the FRS not been entered in any books or reported on the National Debt Clock? Why has the $16.7 trillion loaned to various US and Foreign banks not been entered on the FRS books or anyplace else for that matter? Why has the actual national debt of $39+ trillion not been reported anywhere?

 

I predict a worsening wholesale shortage of both gold as well as silver within the coming three months. I think it is a good bet that both will rise in cost (value) in the next 90 days.

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