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November
04
2020

If Comex Falls, Bullion Banking Does Too
Chris Powell

The Comex lately has been unable to deliver enough silver to meet market demand…

Dear Friend of GATA and Gold:

International monetary metals consultant Corey Keller, interviewed today by Bullion Star’s Ronan Manly, suggests that the New York Commodities Exchange is the vulnerable spot of the bullion bank business.

“If Comex falls,” Keller says, “the London bullion market falls shortly after. The Comex is the Lehman Brothers of the collapse of the global bullion bank business. If they prop them up and Lehman never falls, we don’t have 2009.”

Keller says the Comex lately has been unable to deliver enough silver to meet market demand. He adds that the Middle East, China, Southeast Asia, India, and Singapore don’t need the New York and London metals markets anymore and it is inefficient for those regions to rely on New York and London for their gold. “They could decouple if they wanted to,” Keller says.

Keller also offers lavish praise for GATA, which, he says, is doing “Don Quixote kind of work. They’re tilting at windfalls that will never fall over. …

“They saw stuff that none of us knew was going on, and then we suspected that it might be going on but they might all be wearing tinfoil hats at GATA, and then we realized: Oh, my God! They’re right! …

“They were right and we should have listened to them much earlier. Everyone who’s in in the gold business who doesn’t want the price manipulated should probably kick in a few bucks to keep them going. …

“It’s been amazing what they’ve been able to achieve … amazing that they’ve been able to survive. They’ve been proven right and we all should be really impressed.”

So now that Keller has so kindly mentioned it, GATA needs and welcomes donations from those who aspire to free and transparent markets in the monetary metals as well as to limited and accountable government, and information on contributing can be found at our internet site here:

http://gata.org/node/16

Manly’s interview with Keller is 35 minutes long and can be watched at YouTube here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]

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Join GATA here:

Mining Investment Asia (Virtual)
Monday-Wednesday, November 2-4, 2020

Mining Investment North America (Virtual)
Wednesday-Thursday, November 11-12, 2020

https://www.mininginvestmentasia.com/

 

Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He began working at the paper when he left high school in 1967. He writes a column about Connecticut issues that is published in a dozen other newspapers in the state and Rhode Island and often appears on radio and television public-affairs programs in Connecticut.

From 2004 through 2009 he was legislative chairman of the Connecticut Council on Freedom of Information. In 2006 he was inducted into the Academy of New England Journalists by the New England chapter of the Society of Professional Journalists and the New England Society of Newspaper Editors.

In addition to the Connecticut Council on Freedom of Information, he is a member of the Connecticut, Manchester, and Vernon historical societies and the Churchill Centre.

 

 

 

 

www.gata.org