from TF Metals Report:
The Vaults of London are empty. The GLD is being drained. Eastern demand remains insatiable. So how did The Banks manage to maintain the paper price downtrend in 2014? It’s quite simple actually.
Before we get started, please go back and re-read this post from April of last year. No, the fractional reserve bullion banking system has not yet collapsed but that doesn’t mean we’re not still headed in that direction:
One more time, here’s Bloomberg Industries’ Ken Hoffman on December 13, 2013:
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