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Has anyone noticed how gold has been getting pretty hot lately? I mean it is really starting to sizzle! Silver is doing pretty good today as well, although I am still waiting for it to cross over $21/oz. The Comex shorting game can’t go on forever and perhaps we are already witnessing a short squeeze in progress. Investors just need to keep getting physical with gold and silver. I believe the Comex paper market is going to bust. Sooner or later the sophisticated investors who really want the price of gold to go higher will figure out this one simple thing they need to do…..and it’s more than just buying physical gold and silver.

Unfortunately just buying physical gold and silver is not enough to bust up paper markets like the Comex where naked shorting is used to help cap the price of gold and silver. It is about time major investors put an end to this non-sense of naked shorting and teach the likes of JP Morgan and HSBC a lesson they will not forget!

All that needs to be done, is for major gold and silver investors to buy all their gold and silver through the Comex and stand for delivery. Obviously they must refuse to take a cash settlement. And when the Comex can’t deliver on time because they don’t have the metals to do so, go public with the default exposing these frauds for what they are.

The Comex can be taken out very, very quickly if more would stand for delivery. The day is coming where they are going to go bust. I just hope it is much sooner than later. I also would like to short JP Morgan on their way down. Mark my words JP Morgan, you are almost out of time.

I recently saw this article over at ZeroHedge.com about another big player getting ready to jump into the physical gold market; Central GoldTrust. According to the news release, they are planning to purchase 20 tonnes of physical gold! I say bring it on and take your 20 tonne order right over to the Comex. I am pretty sure they would love to take your order and deliver your 20 tonnes of physical gold ASAP.

The scramble for physical is accelerating. Following in the footsteps of PHYS and GLD, yet another gold trust announces a follow-on offering, in which the entire $800 million outstanding under the firm’s previously filed Shelf will be used up. “Substantially all of the net proceeds of the offering will be used for gold bullion purchases, in keeping with the asset allocation provisions outlined in Central GoldTrust’s Declaration of Trust and the related policies established by its Board of Trustees.” $800 million is equivalent to 640k ounces at today’s fixing, or about 20 tonnes. With this 20 tonnes of gold being sucked out of the market, and GLD’s gold NAV hittinging another all time high of 1,306 tonnes, (not so) slowly all the gold is being sucked out of the system. So yes, even as stocks were off to the headless chicken races, gold once again staged a rally, which would make absolutely no sense if the market was at least a little bit less broken. The good thing is that the Fed’s chairman, as confirmed by his last week’s testimony, is just as clueless in justifying this “inexplicable” move in the precious metal. Perhaps if he were to look at the Frankenstein monster of a balance sheet he has created, all his questions would be answered. Source: zerohedge.com

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