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Earlier this
week, I wrote about possible “incongruities” in the gold bar
registry of GLD. Specifically, here is what has happened to the GLD bar list which is published each Friday at
approximately 4:30 pm EST. An alert reader I communicate with [who
shall remain anonymous] has been documenting the length of the published GLD
bar list:
-
on
Friday, Sept. 25 – the list was 1,381 pages long
-
on
Friday, Oct. 2 – the list was 208 pages long
-
on
Friday, Oct. 9 – the list was 195 pages long
-
then,
on Wednesday, Oct. 14 – after questions were being raised about the
strange machinations with the bar list in chat rooms on the internet – the list
was back up to 855 pages long
Something TRULY
stinks here. No explanation has been offered for the DRAMATIC swings in this
list. Where gold is concerned nothing happens by accident.
How Precious is Settled in London:
Loco London clearing is the daily paper unallocated transfers
between London clearers; the transfers of gold and silver only across accounts
held between clearers for their own accounts and third parties; and, as
mentioned earlier, the clearing out of Zürich for the platinum group
metals. It avoids security risk and the cost of physical movement of bullion;
has standard market practices…
[However] Both allocated and unallocated account agreements are
available. There are allocations for credit purposes, bilateral credit
agreements between clearers, and London
good delivery….
Some short definitions: an unallocated account is an account where
specific bars are not set aside, and the customer has a general entitlement
to the metal. This is the most convenient, cheapest, and most commonly used
method of holding metal. The allocated account, on the other hand, is an
account opened when a customer requires metal to be physically segregated,
and this needs a detailed list of weights and assays….
To Summarize:
- GLD
gold bullion inventory is principally held in London
- I’ve
already written about some large [allocated] physical transactions that
were settled last week in London
under VERY strange circumstances indicative of a shortage of physical gold
bullion for good delivery.
- At
the same time, significant irregularities appeared in the GLD bullion bar list
Conclusion:
- is
the correlated timing of these unusual events a coincidence???? Could
GLD inventory have been utilized to effect these physical settlements, which
in turn, would have required the “sanitization” or doctoring of
the GLD bar list to avoid MANY obvious, easily detectable, duplications of
bar numbers?
I discussed these
irregularities with a very informed source [the same one who informed me of
specific [allocated] trades settled last week] and the reply I
received was as follows:
“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 fool people.
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.”
These
circumstances suggest that a VERY REAL physical short squeeze is in progress
RIGHT NOW and a gang of fraudsters from “fiat-crack-houses”
[Central Banks] are attempting to finesse their losing over-sold hand in an
elaborate Three-card Monty. With reports of independent physical audits
now being conducted and mysterious happenings with GLD’s bar list
– GLD has NEVER looked more suspect.
Hope you’ve
all got some physical gold already.
Rob Kirby is
proprietor of Kirbyanalytics.com and sales agent for Bullion Custodial
Services. Subscribers to the Kirbyanalytics newsletter can look forward
to a weekend publication analyzing many recent global geo-political events
and more. Subscribe to Kirbyanalytics news letter here. Buy physical gold, silver
or platinum bullion here.
Rob Kirby
KirbyAnalytics.com
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