Joe Doakes from Como Park emails:
There are companies that buy, sell and trade gold (major banks and investment firms, generally). The actual gold bars are stored by Comex, which stands for Commodity Exchange, and is part of the New York Stock Exchange. Remember the Bruce Willis movie where the bad guys faked bombs in schools to divert cops while the bad guys stole the gold bricks from Wall Street? That’s what we’re talking about – huge supplies of actual gold bricks being stored in vaults for their owners.
Owner who are now pulling the gold out in record amounts. Giant withdrawals. Trillions of dollars worth.
Did they have unexpected expenses to pay? Losses to cover? Fine, that’s what it’s there for.
Or are they grabbing their gold before the economy collapses because they know something we don’t? Not fine, that’s what we’re all afraid of.
I’d stock up on bullets and whiskey but there are no bullets for sale. Which means more money for whiskey, I guess. So that’s not all bad!
Look! Guns and abortion!