I have now heard three reports where people tried to get their gold from their depository and were denied. The futures (paper) market was supposed to have been based on actual physical supply, similar to the grain market. It now appears that there is no physical gold to back the paper market. Instead, the depositories will only settle in cash, not the metal they were supposedly holding as fiduciaries for future delivery.
Bullion bank defaults may be on the horizon. Large investors as well as sovereign money are taking delivery of physical gold. 25 tons per day are leaving London right now. Over 1,000 tons have been recently acquired by the “Kings of the East”. Unless gold or silver is in your control, you may not own the metal, just a contract to be settled in fiat currency. The collapse of the paper market may soon be upon us and the manipulation and lies will be exposed for all to see. What do you think will happen to the price of gold and silver?