Is The CME Preparing For An Eventual Comex Default?

by David Kranzler
Investment Research Dynamics

Orwell would blush over what’s being done to our system if he were alive. – Investment Research Dynamics...I think a lot of precious metals futures contracts are going to undergo a disappearing act. – John Titus of BestEvidence

The CME curiously reported that it received notice from the Federal Reserve that it is authorized to open an account at the Fed which would “allow it to better safeguard cash deposited by its traders” CME/Fed Account.

This is event is notable for several reasons. First and foremost is the fact that the CME was designated as a “systematically important” financial institution as part of the Dodd-Frank “hoodwink the taxpayer” Act. If anyone can explain to me why a corrupted derivatives clearinghouse and trading exchange is “systematically important,” I will receive the explanation with an open mind.

Continue Reading at…