Physical Metals Run on LBMA in Play NOW. COMEX Next?
4,128 views · Published 27 July 2010 · 3:40 · Indexed 27 September 2026
Channel: SGTreport · 2010 · News & Politics
Adrian Douglas of GATA reports: It appears that a run on the bullion banks has commenced. There is a cover-up of back-door injections of liquidity of physical gold, and the LBMA now is trying to conceal trading information. The bullion banks have sold far more metal than they can deliver, and more and more customers are asking them to deliver. This has led to back-door bailouts and cover-ups. Anyone who has "unallocated" bullion should be very concerned. The LBMA itself describes owners of "unallocated bullion" accounts as "unsecured creditors." That means that the account holder has no collateral or title to any bullion. Bullion bank unallocated account agreements require the bank only to settle in cash for non-performance. That means when the physical squeeze that is evolving takes gold and silver prices to multiples of the current price, holders of unallocated metal accounts will not get any bullion, nor will they be compensated at the prevailing market price. I interpret the LBMA's move to secrecy as a sign that the opportunity to get real metal is closing fast.
