by Chris Powell
Dear Friend of GATA and Gold:
International monetary metals consultant Corey Keller, interviewed today by Bullion Star’s Ronan Manly, suggests that the New York Commodities Exchange is the vulnerable spot of the bullion bank business.
“If Comex falls,” Keller says, “the London bullion market falls shortly after. The Comex is the Lehman Brothers of the collapse of the global bullion bank business. If they prop them up and Lehman never falls, we don’t have 2009.”
Keller says the Comex lately has been unable to deliver enough silver to meet market demand. He adds that the Middle East, China, Southeast Asia, India, and Singapore don’t need the New York and London metals markets anymore and it is inefficient for those regions to rely on New York and London for their gold. “They could decouple if they wanted to,” Keller says.