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#4 | |
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Avalon Senior Member
Join Date: Sep 2008
Location: Ont. CANADA
Posts: 1,043
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Quote:
http://www.stevequayle.com/News.aler...breakdown.html Now if you are familiar with futures trading you will know that when someone takes a position in the market , (buy or sell gold) you take the opposite position to balance out the position before the expiration date. (futures month) Now if you don't cancel it out you either have to come up with the amount of gold that is stated in contract, (one contract is 5000 ounzes) if you sold gold or you have to take physical delivery if you bought gold . Normally everyone makes sure you have your position cancelled out and very little ever gets to this delivery stage. Now the interesting thing is that China is using the futures exchange to buy positions and is demanding delivery of physical gold!!!! This is how this scam was exposed when they checked the bars for authenticity. No different then a drug dealer checking his cocaine!!!! Some heads are going to roll before this is over .. Can't wait. |
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