{"id":49367,"date":"2016-09-16T10:15:13","date_gmt":"2016-09-16T14:15:13","guid":{"rendered":"https:\/\/stateofthenation2012.com\/?p=49367"},"modified":"2016-09-16T10:15:13","modified_gmt":"2016-09-16T14:15:13","slug":"someone-dumped-70-tons-of-paper-gold-at-830-a-m","status":"publish","type":"post","link":"https:\/\/stateofthenation2012.com\/?p=49367","title":{"rendered":"Someone Dumped 70 Tons Of Paper Gold At 8:30 a.m."},"content":{"rendered":"

Investment Research Dynamics<\/p>\n

At 8:30 a.m. this morning, 10 minutes after the Comex gold pit opens, over 70 tons of gold was dropped into the entire Comex trading system. \u00a0If this happened on the NYSE, one of the ECN\u2019s (usually BATS) would have mysteriously \u201cbroke\u201d and trading would have been halted \u2013 before the damaging effects of the systemic paper overload hit the market.<\/p>\n

\"untitled\"<\/a><\/p>\n

From 8:30 to 9:30 a.m. EST, a total of 6,289,900 ozs of paper gold, or 196.5 tons was unloaded on the Comex. \u00a0 To put this in perspective, the Comex is reporting 2.37 million ounces of gold in its registered account (the gold that can be delivered). \u00a0That amount of paper gold that would unloaded was 2.7x the amount of gold available to be delivered. \u00a0 It represents 58% of the entire amount of gold reported to be in Comex vaults.<\/p>\n

It\u2019s hard to find any specific news trigger that would have motivated anyone to sell one ounce of gold, let alone nearly 3x the amount of physical gold available to be delivered.<\/p>\n

Perhaps the worst economic news reported was retail sales, which dropped .3% in August vs. the expectation of no change. \u00a0This is the 4th month in a row retail sales have dropped on monthly sequential basis. \u00a0Retail sales have declined 6 out of 8 months this year.<\/p>\n

There\u2019s probably nothing to see in that chart above \u2013 just like the allegations of Hillary\u2019s poor health\u2026<\/p>\n

___
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