DISERN.. but is coming: Force Majeure Was the End Game All Along, COMEX Will Default in the Next Week!

Force Majeure Was the End Game All Along, COMEX Will Default in the Next Week!




April 16, 2013 By The Doc 143 Comments















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The
COMEX will default in the next week or several weeks and people will be
“settled” with Dollars, no more metal will be delivered!
So, knowing that “game over” has arrived, they are dumping a massive
volume of paper contracts with impunity to push the metals prices as
low as possible before the “default”. This way the “shorts” do not have to and will not be “covered” when “supply” cannot be obtained because of “an act of God”. They will be settled in cash (at a profit no less) because these “unforeseen” disruptions in supply.
“Who could have seen it coming?” will be the mantra. I would suspect
that banking stress and “bail ins” will also become prevalent globally.
The pricing structure” will now push any and all physical
sellers away from the markets and the “door” to safety is effectively
being shut. Either you own metal or you don’t.
After the closure of the COMEX and
LBMA doors there will be no availability and “price” will be
meaningless. Your ability to protect yourself is right now for all
intents and purposes being eliminated.







Submitted By Bill Holter, Miles Franklin Ltd,:

Last week Barrick Resources announced the postponement of their giant
Pascua Lama mine. This was to be one of the worlds largest mines and
is now tied up in litigation over true ownership as it appears to show
that Barrick does not have clear title. The probale reserves were
nearly 18 million ounces of Gold and almost 700 million ounces of
Silver. Work on this mine was completely ceased last Wednesday.

“Last Wednesday” was also an important day for the Kennecott copper mine in Utah, the ground started to shift more rapidly prior to this weekend’s landslide.
They knew this was coming as they closed the visitor center on April
1st and had all equipment and personel out of harms way. This mine
produces some 400,000 ounces of Gold and over 3 million ounces of Silver
as a by product of copper, this is the largest copper mine on the
planet. Have you heard even a peep out of the mainstream media on this
on? I didn’t think so.

Is it not strange that these two events came to a head last
Wednesday? The same day that out of nowhere Gold reversed from being up
and give up $40? And then of course there was Friday with $85 and
another $75 this morning. Gold is now down $200 per ounce in just over 3
trading days. Between these two projects, one not coming online and
the other going off line, a VERY significant amount of production is not
going to happen. Does this make sense? Did you not learn in school
that “less” supply meant higher prices? In the real world?

We don’t live in “the real world”, we live in a world where everything financial is manipulated.
Here is what I see happening. They knew that this mine was going to
collapse and the production would stop. Then the ruling on the Pascua
Lama mine was sent down. Last Thursday president Obama met with
15 heads of the biggest banks and brokers in the country, THIS was
discussed as sure as the Sun came up this morning: we have hit the
bottom of the barrel! Reserves that could be fed into the market are
and have dried up at the same time that production has dropped and
future production delayed. The paper game is blowing up …RIGHT NOW and
the topic of discussion at the White House was about “how it would play
out”.

The COMEX will default in the
next week or several weeks and people will be “settled” with Dollars,
no more metal will be delivered! So, knowing
that “game over” has arrived, they are dumping a massive volume of
paper contracts with impunity to push the metals prices as low as
possible before the “default”. This way the “shorts” do not
have to and will not be “covered” when “supply” cannot be obtained
because of “an act of God”. They will be settled in cash (at a profit
no less) because these “unforeseen” disruptions in supply. “Who could
have seen it coming?” will be the mantra. I would suspect that banking
stress and “bail ins” will also become prevalent globally. The pricing
structure” will now push any and all physical sellers away from the
markets and the “door” to safety is effectively being shut. Either you
own metal or you don’t.

I tried to “be nice” in my piece from last night talking to those
who worry about price. What is now happening is exactly what I spoke
of, you must count ounces because “availability” is going away right
here and right now! After the
closure of the COMEX and LBMA doors there will be no availability and
“price” will be meaningless. Your ability to protect yourself is right
now for all intents and purposes being eliminated.

We received a few (very few) angry letters from customers who say
that Jim Sinclair, Mr. Sprott and Embry, James Turk and others including
myself are and were wrong. That we should hang our heads in shame and
that we are nothing more than charlatans hawking Gold and Silver. We
will soon, very soon see just how right or wrong we really are. What is
happening right now is very clear to me, what I don’t understand is how
anyone could miss this as it has all been laid out for you and dropped
in your e-box to see (for years now), understand and prepare
for. Life, all of life as we knew it is about to change forever.
Hopefully you understood this and have already prepared for it!
Regards, Bill H.