Bill Holter – Gold Market Fraudulent Cannot Deliver 5,900 Tons, Gold Market Deliveries Already in Deep Default

Is a default in the gold market coming soon? Financial writer and precious metals expert Bill Holter says, “It’s already happened. It’s already happened. They can’t deliver. Just this month alone, in December, there are 41 tons (of gold) standing for delivery. I think they (COMEX) only have 37 tons to deliver on. You will not see the movement inside COMEX showing delivery. The 37 tons will not be eaten into to deliver. Are they paying a 25% premium to settle in cash? Who knows, it’s totally shrouded. You know by sheer size of the numbers that 5,900 tons, in less than one year, for delivery, that’s fraudulent. I hope COMEX or CME sues me because then we get into discovery. I am sure there are 10,000 lawyers that would do this on a pro-bono basis just to get to the truth.”

When will this market blow up? Holter says, “I don’t know, you can’t ask me how long because this thing should have blown up years ago. When will it blow up? I can’t tell you, but I can tell you mathematically it cannot sustain.”