by Craig Hemke
Demand for physical delivery through the COMEX futures market continues, and this has significant implications for the future of the current fractional reserve and digital derivative pricing scheme.
It’s now mid-summer and the July COMEX contracts have moved into their delivery phase. The numbers are as amazing as they are historic, thus this updated summary is necessary today.
Back in late March, the COMEX nearly failed, as Covid-related sudden delivery demands in the spot gold market drove massive losses for many of the Bullion Banks. Much has been written about this since, so there’s no need to recap what happened. However, a handy summary—including an easy-to-understand explanation of the COMEX “delivery” process—can be found here: