Thursday, July 16, 2009

Might want to tighten up your finances a bit

Comex are the folks who run the securities exchange. Now, for the most part, this is just a casino for the big boyz to play with. Nothing for us low-lifes to concern ourselves with.

Jesse's Cafe Americain brought this to my attention. Lately some strange things have been happening. Comex has now decided to allow delivery of fund certificates as delivery of physical gold. So now, when you buy gold futures, and you decide to take possession of the gold, they can pay you off in paper.

Now, maybe I am just an untrusting tin-foil hatter, but that strikes me as a con game gone pro.

Things are getting strange indeed.


HermitJim said...

You're right! It has the definite smell of a big con to me as well!

shiloh1862 said...

This means they have no physical gold. And the naked shorts have free reign now! Very bad!



Mayberry said...

If it looks like a skunk, and smells like a skunk..... The mint is out of gold. Again. Where's that stuff going? I ain't sure, but I hear they eat with chopsticks....