COMEX is bleeding..​..................from Rico

I remember an old Army expression from my youth..."Sweat now, or bleed later." It proved true.

- Some things never change.

After a long stretch of 'no sweat' skimming the 'paper Gold' profit cream, we now see an unprecedented 12 consecutive days of negative GOFO, and the COMEX continues to 'bleed' physical inventory.

Big withdrawals...BIG...from the COMEX continue, in both Gold and Silver.

The legendary Jim Sinclair predicts the COMEX will 'default' in 90 days.

- Absent physical bullion for settlement, they will have to settle in fiat cash...or shares in GLD-SLV (making the recipients unsecured creditors of those entities...think Cyprus. Think BOHICA.), either constitutes a default. Both will leave a mark and will hurt.