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Jeff Nielson: Fraud confirmed -- 100-day delay to take metal delivery

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Chris Powell
GATA
Published : July 02nd, 2013
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FOLLOW : Canada Gold Lme London
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Category : GoldWire

Jeff Nielson of Bullion Bulls Canada today reflects on the London Metal Exchange's admission that delivery delays for metal now can exceed 100 days:

http://www.bloomberg.com/news/2013-07-01/lme-...-lines-at-wa...

Such delays are essentially failures to deliver and defaults, Nielson writes.

"Behind the scenes," Nielson writes, "we know what is taking place, since it's been widely reported since 2008. LME shills quietly contact buyers individually and inform them that if they don’t want to wait more than three months to take delivery of what they already own, there is another option: cash settlement."

Nielson's commentary is headlined "Fraud Confirmed: 100-Day Delay To Take Bullion Delivery In London" and it's posted at Bullion Bulls Canada's Internet site here:

http://www.bullionbullscanada.com/gold-com...d-confirmed-...
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All
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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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