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Re: Bankers Forced Out of Metals? 

By: faul in POPE IV | Recommend this post (1)
Wed, 15 Jun 16 2:07 PM | 58 view(s)
Boardmark this board | POPES NEW and Improved Real Board 		Msg. 07660 of 47202
(This msg. is a reply to 07638 by Zimbler0)
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"To put that in perspective, more gold is traded in London each day than what is stored at Fort Knox (4,176 tonnes). On a higher volume day, amounts closer to total U.S. gold reserves (8,133.5 tonnes) can change hands.

How is this possible?"

http://www.visualcapitalist.com/inside-look-worlds-biggest-paper-gold-market/

Only 5% of Gold traded has Legal title,the rest is worthless paper
if the CON-fidence game ends........

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The above is a reply to the following message:
Re: Bankers Forced Out of Metals?
By: Zimbler0 in POPE IV
Wed, 15 Jun 16 5:52 AM 		Msg. 07638 of 47202

Apr. 9, 2015,

http://www.mining.com/annual-gold-trade-reaches-22-trillion/

A new report by Thomson Reuters GFMS shows that it is one of the most leveraged financial markets with trading volumes many multiples of annual mine output.

Global trading volumes in 2014 was three times more than the 183,600 tonnes of the precious metal that have been produced in human history.

At an estimated $22 trillion trading value per year, the gold market dwarves turnover on the Dow Jones Industrial Index and that of the S&P 500 combined, German and UK government bonds and even some of the top currency pairs.

The volumes of gold transferred in 2014 as reported by London Bullion Market Association clearing members, totalled approximately 157,000 tonnes, with a value of $5.9 trillion.

>>>

(Entire article is at the link.)
(Are these people insane? Zim.)

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