What Is The COMEX? Is It About To Break?

I only talk to people I run into.

Gold is priced on the comex in the country where at a keystroke dolars are created out of thin sir.
They have to suppress gold to protect the dolar.

Great explanation of the COMEX, was looking for a video to explain this to the uniniciated, thanks for the work and research.

Two things not explained 1) all contracts can be settled for US Dollar without penalty so the comex isn't fragile. 2) the spot price is the average future traded on the comex and has nothing to do with physical which has production, delivery and storage costs associated with it

I search for "what is Comex" and i'm thrilled that Sal is the first hit. I'm ready to learn, Brother!

I think we dealing with some black law dictionary terms there, the physical and non physical, the strawman and the God creations!
I think we all know which is more valuable physical silver or the paper silver contracts...lol 😆

Sal, Rafi Farber, on Arcadia Economics and GoldSilver Pros, has made several videos on his very frustrating attempts to take physical delivery of 1 Comex Silver Contract (5,000 oz t). The fact is that the Comex has never delivered a Physical Silver Contract to an individual. He had to make several payment adjustments to the Comex for the contract, got an "Intent to Receive", which he had to get before he could get a "Warrant" and went all the way through the process, only to find out that he was not able to get the "Loadout" and he is not an Authorized Broker. Apparently he couldn't take physical delivery, because they ship through Brinks, and they don't deliver to unauthorized locations. It's much more involved than I just indicated, but he posted several videos to explain the entire process he went through, with no solution, to date. Enjoyed this video and remember that I will continue slurping my coffee right along with you, when I'm in your chat, my brother.

Great content as always Sal. Here’s my take. First: Since gold has next to zero industrial applications and 90% plus goes into jewelry and what I would call real money(be it in coins, bars) it should be delisted from the LBMA and Comex, it’s just pure speculation with little benefits to consumers. Second pork bellies, oranges, wheat, nickel and silver do have industrial uses so much to my chagrin they belong in an exchange as a hedging mechanism. Gold doesn’t need this and it’s listing only furthers speculation, nothing else. Of note that all those things that belong in an exchange are consumables. Silver while cannot be eaten it can go in the solar panel that heats up ur spam. Gold is purely unconsumable and the only real money. It doesn’t belong in an exchange imo.

Great video ! Comex always has the option to pay out in cash. No fair !

It is the mex of the Coe, the tipping point is just past the fulcrum. You must have failed underwater basket weaving……

Paper market doesn't have to pay a.high.premium soo they alone can make a buck faster than anyone holding physical and its not fare

Comex should be renamed to Crimex.

The ludicrous price system is rigged at every level, a complete scam institutionalized and run by the CFTC who are ironically supposed to stop these activities.😡

I’m trying to wrap my three brain cells around this…. It sounds as though a system has been created for an elite few to sell a promised interest in an item that only exists if the majority of investors don’t actually want to verify it exists…. I wish I could sell time shares on ocean front property on the moon!! Good scam until the space miners make a potty stop on the moon. Only to see there is no ocean, only lots of Swiss cheese!! Quick sell ETF’s on the cheese commodity!!

Wow but not just metals everything comes

So confusing..

Like 265.... Boom!

Why do some of the delivery bars come either overweight or u underweight?(1000oz)

Yeah, the "market"s are just a mechanism for price discovery, and a means for futures hedging. Savvy. -They by NO means represent all physical transactions, or even "physical" transactions at all, it's price discovery...If you can arbitrage it. ...DO IT!!

Paper Gold & futures are subject to manipulation. Always buy physical gold & take delivery. This way will be able to catch the manipulators

Great content, nice video 👍

👍🏻

Finally someone explained the comex in real terms, sounds like a scam, why creat such a complicated situation,
You want to trade silver , then trade silver. But to make up fake make believe paper , should be illegal
Thank you

Check out Rafi Farber and his inability to receive his warranted silver. These gangsters DO NOT deliver!😎

Great video Sal 👍

Complex, indeed. You did a great job deciphering the vast majority of the info. A plethora of gratitude!

Watched

Very interesting report. I would love to see unallocated sales made completely illegal. It would be a great gift to stackers!

AlgorithmFood!

Diversify Diversify Diversify

Sup Mister SM and everyone

great thinking and conversation video thumbs up

OK, so, Sal ???? WHAT do you feel the price of Silver should be without these fools spaz trading all the time? And these self proclaimed "pychics" of the stockmarket? :-) ...... We're talking over 10 for spot right? Would you take it all the way back to 15?

(1 min in) "Oh you're a BULLSH%T artist? ... OK did you bullsh%t last week?" ; ... Hahahahah , w/ ya , Sal

I did something interesting, and should probably make a video, I sold a big piece of equipment and I'm planning on building a house, but probably not for 3 years (permits, plans ect.ect). And with all thats going on with the economy, what would you do with over $200 k?.
Well, I bought my first silver bar in 1974, and my first gold eagles in 1987, and I haver never ever seen premiums this high in my life. So I had an idea, I looked into Comex bars. and yes, I was actually able to buy 3 silver Comex bars at about $1 over spot, with a story at that.. and some gold from my LCS.
One of the comex bars was even a Johnson Matthey bar :)
But I wouldn't recommend doing that if you don't already have a buyer lined up also.

Thanks Sal, another great video.

I was able to find some information for the ratio of paper gold versus annual gold production for 2011. I guess my question is, how much paper gold is there compared to annual gold production? Also, how much paper gold is there compared to above ground gold. Interesting video Sal, thanks.

This sounds like a Ponzi Scheme in my opinion and sounds like this just inflates how much physical gold, silver and other PM there really is.

Is that what they call a good delivery bar

I believe the bars have to be 995 to be good for a portfolio now what's the least amount you can get from the comex

Thanks for the education Sal! Another very helpful video!

CRIMEX

First not if you do not understand the labarrynth of "legislative intent" backing up our rules and laws. Without going into detail I had the enlightening opportunity to be invited to sit in on a post-law grad class taught by and about new Treasury Regulations (Regs) written by IRS "technical writers" (already lawyers) for the Internal Revenue Code (Code). Regs have the force of law just below the unintelligible Code. About 3/4 the way in a guy in the front row stood up and loudly proclaimed, "THAT'S NOT WHAT I MEANT WHEN I WROTE THAT!'. So when you have the author of a tax law (or Comex law) and a person who has spent their entire life on this tiny area (pension tax law) who don't get it keep this in mind: If you read the pamphlets the IRS puts out each year and you fill out your return perfectly with those directions but the IRS or DoJ says the Code says otherwise guess who wins!!!!! 😂🙋🐥❤️ Not U

Good Question. WHAT IS ... THE COMEX ?? A Question. Buried in a Riddle. Wrapped up in an Enigma.

Sal, you made my brain bleed with this video 🧠🩸🩸

Personally I like purchasing physical silver & investing in paper gold & silver markets. Paper gold & silver markets are investments which I regularly invest & sell them for less than 3 years while physical is invested for a long time.

Excellent report Sal, thanks for sharing your knowledge and expertise!

I can understand futures in wheat, or corn 🌽, but futures in PM just guarantees more paper 📃... maybe military or electronics?

Who's the man behind the curtain

The more I read or hear about the COMEX, the less I understand it.

Or is it The Crimex?