It's what you don't see that gets you.....................from Rico

It's what you don't see that gets you, and make no mistake...something BIG is happening right now, but quite out of the public's sight.

There has been a very visible and massive liquidation of 'paper bullion' (Gold and Silver), but while the public is distracted by this gutting of 'paper bullion' attention is diverted from the collapse in COMEX physical bullion storage whose inventories supposedly 'back' the paper ETF's called GLD and SLV.

- Billions of Dollars of physical inventory have been withdrawn from COMEX vaults in the past 120 days.

While the media and FTV shills debate the 'end' of the bullion bull market and mostly proclaim the "bullion market is dead" it seems the 'smart' money that is 'long' is saying "long live the bull market" and having paid attention to money printing by all major Central Banks, as well as the thefts at MF Global and Cyprus, are moving their wealth away from fraud, theft, and bankruptcy wth some alacrity.

Myself, I think it is 'less' that the precious metals have run their course and Keynesians like Bernanke, or Krugman, or....well, almost everybody who has imbibed of the Magical Maynard KoolAid courtesy of the halls of macadamia have been vindicated, but 'more' that the COMEX is flirting with a MAJOR market default.

- Sovereign governments are insolvent, Central Banks are insolvent, so why not the COMEX?