Prepare to be Corzined!...................from Rico

MF Global told us clearly (and it was reiterated in the Sentinel ruling which is now 'legal...hahahahahaha...precedent') that NO asset in the financial system is "as is" but is instead a copy-of-a-copy-of-a-copy [rehypothecated to eternity].
- There are not enough money-good, credible, assets on the planet to cover all the phoney-baloney paper derivatives now in existence.

Paper representations of notional bullion in the paper ETF's GLD and SLV are no exception.*
- Their massive paper-dilution of physical precious metals will shock you one day.

THEIR INVENTORIES DO NOT EXIST.
- Would JPM and HSBC lie to their investors? No more than Jon Corzine would.

The next centrally-planned/driven crash will tell us who is on the chopping-block of 'vaporization.' GLD and SLV do NOT have enough beneficial bullion to cover the paper claims upon them. If you are invested with them you only 'think' you own bullion, but you REALLY only own paper. They are settling on the COMEX in fiat Dollars now, and are NOT delivering bullion.
- If you are invested in them, upon their collapse, you will never recover your investment when they default.

Prepare to be Corzined!

*Not to be confused with CEF, PYHS, and PSLV which actually DO have physical (allocated, inventoried, unencumbered, etc).