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Gold/Mining/Energy : Precious and Base Metal Investing
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To: The Vet who wrote (31728)10/25/2004 12:02:42 AM
From: LLCF  Read Replies (2) of 39344
 
To be honest it's not at all clear to me that the "paper markets are rigged in favor of the shorts":

<the rules of the paper markets which require the longs to declare their intention to take delivery AND put up the full amount of the cash to do so BEFORE the shorts have to actually produce the commodity they have sold.>

I don't think it is 'stacked' to make longs declare intention to take delivery or pay upfront...

1.) if you want something out of circuit cities warehouse, you better order ahead!! On the other side, shorts have to deliver product that meets certain specifications and stamped by proper producers and have gold stored in licenced warehouses! IF there isn't enough gold to deliver to the longs, the COMEX [and NYMEX] GO OUT OF BUSINESS AND ALL SEATS ON THE EXCHANGE ARE WORTHLESS!!

2.) I see nothing wrong with paying before getting what you paid for... it happens every day with every transaction in the country unless you have specifically set up a credit arrangement.

3.) I would watch the open interst vs warehouse stocks before colouring the COMEX with the same brush as the central banks... ie. don't blame the fact that there has been more gold borrowed and sold than could actually be come up with today on the comex without showing numbers.

DAK
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