The COMEX is a magical place (much like the rest of Chicago where the dead retain and exercise their voting rights as a matter of course) where precious metals that do not exist are routinely traded and sold.
- Much like "fantasy football" [read: imaginary sports] I guess.
For example, there are 328 'imaginary' paper ounces of Silver for every 'real' ounce of Silver bullion available (registered) for delivery. 328:1......
- The CRIMEX registered (available) inventory is 47 million ounces against an "open interest" of 157,000 contracts.
Gold is almost as good with a ratio of 180:1.
- The registered (available) inventory is 161,242 'real' ounces of Gold bullion against 29,000,000 'imaginary' paper ounces under contract.
Wednesday, 7 October 2015
Imaginary vs Real..............................from Rico
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