The Phaserl


Comex Default

[Ed. Note: In fairness, Holter made his prediction on April 16th, just two week ago. Meanwhile JPM’s own gold vault is being stripped down to all-time low “eligible” inventory levels while the Comex teeters on the brink of disaster. Just sayin’.]

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10 comments to Comex Default

  • Bob A

    Amen. Spot on. I challenged Bill Holter back when he made this call. I said, heck, I’ll give you 2 weeks to prove you are wrong. He never posted my challenge, because he knew he was doing the pump tart thing. This guy is right on the money. Glad you posted this SGT. A balanced view! Oh, and of course it is the dealer pumping the buy silver day. Well, I ain’t buying. I buy when I want to buy, thank you very much.

    • 8Ball

      Amen, Probably, possibly, should, would, could, maybe and might… some time real soon now, ya hear! All that I can say with some degree of probability is that when the SHTF, it will happen on a long Holiday weekend… and most people will be caught with their pants down.

  • Glitter 1

    Sorry, I don’t like this guy.I perceive him a phony,trying to grand stand,calling everyone who makes their living retailing gold and silver a scammer.What’s his gig(scam).He’s trying to sell himself as a White Knight,the “New Self Proclaimed Expert”.I think he’s full of BS.All of those calls for the Comex Default were based on large OI and if those contracts stood for delivery there would in fact be a default.Someday someone will want the physical rather settling in worthless cash.

  • Bob

    I gave up on Don Harrold about 1 year ago along with Mark Dice. I unsubscribed to both of their youtube channels. Don is full of sh*t, I think about this time last year he was promoting his 1 oz copper coins almost 5X’s a day. I guess he failed in that venture, but I don’t know for sure nor do I care. Got phyzz?

  • poor rich

    If most stackers buy their silver privately I don’t see how Buy Silver Day would affect the Comex, which appears to be a venue solely for large speculatums. Maybe I’m looking at this the wrong way??

  • delllat

    Right on Brother….You hit it right in the center of the center of the bulls eye!!! LOL
    Not only did you speak it, you showed the Proof!!
    Indisputable proof!!!
    Keep up the great work.

  • Iguana Green

    It’s certainly a plausible point he has here.
    Anyway, I often think: ” Why should anyone demand phyzz for their contract anyway?”
    Paper dollars are working just fine thank you. For now. So party on.
    I’m waiting for Europe to collapse. War. Terror. Europe is in big doo doo.

  • PS, nothing very wrong with bloggers trying to steer a little attention/business to others, but regarding the 10.00 off at SD…shipping there was 7.50 Priority Mail for an ounce and they wound up sending it first class, and if I recall correctly, I didn’t receive any change back. I’m not so cheap in my dealings with others (that’s why I’m “Poor Rich” I guess, but seems much “small business” (make a little, lose a little) is just another business. Better to deal with as local as possible methinks.

  • Dee

    I agree that Don makes good points here. But this is the thing– every retailer or analyst that makes predictions about COMEX defaulting is doing/has done so based on plausible numerical and/or anecdotal evidence that would suggest a default might be imminent. And this idea that they would just hoard all of their stock before such an event doesn’t really float for a couple of reasons: a) they operate a business, and therefore have certain obligations they must meet, and b) most bullion proponents that I know revel in the idea that their community of like-minded enthusiasts will be vindicated as a GROUP for the crimes of the banks/cartel/government/Pilgrims against PMs. It’s called comradery. We’re in this together, and we want to share the victory.

  • jayko

    Nice for sgt for posting such balance point. However as mentioned in the video saying COMEX would not default because they will pay you in cash, that is what all these people (Bix Weir and Bill Holter) was saying all along, they said the COMEX will default on physical delivery and everyone will be paid in cash eventually.

    People who are in the business of retailing PMs have other agendas aside from making profit believe me. If collecting fiat is all they care most of them would not be in this sort of business. An example, Chris Duane has left a very profitable car dealership business to start his silver retailing company. One of his videos even pointed out that the dealership is more profitable than what he is doing now however it contradicts all his beliefs. Starting a business is all about what is one passionate about. These retailers/miners from Schiff, Sinclair, Duane etc. are in it because they truly believe in what they are saying. This is their activism which is more effective than starting a protest event. As Keiser say if most people go into physical (or bit coin), the days of the fiat will be numbered. It is fiat that kept our serfdom system keep perpetuating.

    This guy comments as if the paper price is real and reflective of what is happening. One cannot predict a timeline to events however one can be assured that a future black swan event can happen. PMs are insurance and not investments. For people who see them as investments go ahead sell them, let those who are still stacking have them (at a bargain).

    If this is the new normal where we can party with fiat all over again, lets reflect if what these gold/silver bugs state is true:

    1. Is the fed and all the BIS controlled central banks keep printing money? Does the Fed buy $85 Billion worth of toxic assets monthly?
    2. Did the Cyprus bail in occur? Is there a bail in provision sneakily passed in all government budgets from Europe to North America?
    3. Did ABN Ambro literally defaulted on physical obligations and have force majeur to pay out all contracts in cash?
    4. Did the thefts of future contracts on physical PMs on MF Global and PFG best voided with all the clients accounts re-hypothecated last year? Did these same amount of money ended up with JP Morgan? Did CME not backstop any of these?
    5. Did the popping of the Housing bubble in 2008 reveal all derivatives and securities are toxic and the game played using fiat currency is just another elaborated ponzi scheme? What makes today’s re-inflated housing bubble different from the previous one that popped especially NINJA loans are back on rage again?
    6. Are the BRICS nations signing all these currency swaps to trade in their currency outside the US dollar really happening? What is the consequence to this when the biggest export of the USA consist of US dollars, MBS, CDOs, derivatives and treasury bonds?
    7. How about the Unemployment recovery? What is this recovery then when more and more of world’s nations are becoming unemployed?

    If you answer all seven question above with a Yes these things are happening. Then the only thing that can safe guard you in future black swan events (which I assure will happen as history predicts) are Precious Metals (to get a plane ticket out), ammo, outdoors (Hunting/Fishing) skills, self defense, self sustaining skills (farming, first aid) and a vehicle.

    These guys may have egg on their faces while the paper game continues, but I am sure when all is said and done, these guys will have the last laugh. It may be 3 months, 5 years or 10 years whenever the BRICS decide to pull the plug, but when they do it things are gonna get nasty. If you are Cypriot, PMs have just become your friend and you may have been able to purchase a ticket out of hell and start a new life somewhere else.

    There are two roads I forsee that will likely occur here in North America and it is up to everyone to think about and plan accordingly:
    1. Most likely scenario- Emergence of a police state with North American Union established and dollar, canadian dollar and mexican peso replaced with the Amero. Bail in will be the norm, most people will celebrate their new found slavery. People who are awake will have a hard time getting out of this gulag new fascist state. This road will inevitably lead to World War 3 and end of humanity as we know it. Like the nazis, the state who had gone after Muslims, will now go after Christians, Chinese (Asians as they all look alike), Russians and dissidents. Most people will cheer and those who play safe will keep quiet until the state goes after them.

    2. Second scenario will be the implosion of the US dollar and then followed by the Amero leading to the rise gold/silver standard currency in the east. World War 3 will be prevented, the developed world and the former imperial nations will now accept their third world future which will lead to these nation states splintering with possibility of civil war likely and collapse of the current paradigm. Human Race overall survive and will thrive in a new paradigm that will be much fairer than the current one and wars around the world will slowly recede ushering a new renaissance for the human race.

    The choice is up to you. By continuing and perpetuating the paper game, scenario one will be the reality, by going to precious metals we can speed up scenario 2 and evade world war 3. The choice is really up to you.

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