The Phaserl


Why No “Upside Cartel”?

by Bill Holter, Miles Franklin:

Several people have asked me “why doesn’t a cartel form to take on the suppression schemes on the COMEX and LBMA?”. This is a very good question. One I believe can be answered with some common sense, a little bit of thought and a very broad view.

For a little foundation work let’s look at COMEX silver inventories. They claim to have 63 million ounces available for delivery, adding in the eligible category we see a total of 175 million ounces. At current prices, it would only require $1 billion to claim the entire registered category and only $2.8 billion to wipe out all inventory. I am using silver here because the numbers illustrate how small this market really is and how easily the inventory could be cleaned out. Were we to look at their gold inventory, only $10 billion would do the trick!

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