GOLD 0.51% $1,391.7 gold futures

possible comex default

  1. 548 Posts.
    I know there are a lot of you out there who think a possible Comex default will ignite the price of gold. I can't quite get my head around that insofar as:

    1) Everybody knows the game's rigged. The CFTC and the major players in the form of JPM, etc, can make the rules as they go along. I can't help thinking they already have a contingency plan we don't know about that will bail them out in any default.

    2) What's to stop the CFTC from sanctioning settlements in lieu? Sure, the guy who who wanted physical delivery gets pissed off, but in the end he's forced to accept monetary compensation based upon force majeure due to perceived bullion shortages in the market.

    I'm out of my depth here, but think about it. Someone please explain why a default MUST absolutely positively translate into a rapid bullion upside

 
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