There is evidence that Comex Gold in storage has been used to manipulate the price of Gold (POG)
lower by selling short against this Gold hoard. Most players never take delivery on their futures contracts
against the Comex Gold, so if the manipulation theory is correct, there is a way to demonstrate this.
Gold bugs have spread the word and they are raiding Comex by asking for delivery of the Gold they
locked up with Dec. Futures contracts. With Comex Gold trading well below coin prices, this looks like a
sweet deal for those who actually go ahead and complete the purchase of the Gold they contracted.
It will be especially sweet if this blows the lid off the Gold Cartel's capping operation - Merry Christmas - Ken


Comex said warning brokers about December gold squeeze

Submitted by cpowell on 08:11PM ET Friday, December 12, 2008. Section: Daily Dispatches

From "Midas" Commentary
by Bill Murphy
Friday, December 12, 2008

I received a call this morning from a commodities broker who told me that the Comex is alerting various futures firms about the potential of a squeeze on the December contract and is advising the $840 December shorts to exit their positions. That is the remaining open position.

There have been 12,636 notices of delivery. The shorts have until December 31 to make delivery. Normally they deliver early to take in cash and earn the interest. They must be delaying. As I understand the situation, that represents about 40 percent of the gold available at the Comex, and of course someone could enter the scene late, buy February gold, and then spread into December, which would stun the shorts.

My broker friend said his back office said this sort of alert is highly unusual and that the concern is real, not only for gold, but for other commodities too, like copper and palladium, as there is a good deal of talk of taking deliveries there too. But gold is the one for which the advice to cover went out.

This is an extremely productive development and could spur the price of gold up quickly as word spreads. As we all know, buying Comex gold and silver (the cheapest way to buy precious metals) makes all the sense in the world in this financial environment.

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Financial Times hears Comex gold squeeze talk

Submitted by cpowell on 11:23PM ET Friday, December 12, 2008. Section: Daily Dispatches
Gold Surges as Doubts Rise on Car Bailout
By Chris Flood
Financial Times
Thursday, December 11, 2008
Gold prices hit an eight-week high on Thursday as the dollar staged a broad-based retreat amid fears that the US carmaking sector could still face bankruptcy as a scaled-down government rescue package faced opposition from Republican senators.
Gold surged to $833.80 a troy ounce, its highest level since October 16, before easing back to $825, up 2.1 per cent on the day.
Suki Cooper of Barclays Capital said gold should move towards the $900 level in the coming months but the current rally was likely to be sustained only if an additional catalyst emerged or if the dollar continued to weaken against the euro.
Traders have been hearing talk that the gold market could face a potential squeeze at the end of this year if market participants with futures position on New York's Comex exchange decide not to roll over their positions, because of concerns about counterparty risk and opt for physical delivery instead. But dealers dismissed the threat of a squeeze, pointing out that Comex gold stocks stand at 8.5 million ounces, well above the five-year average of almost 6 million ounces. ...

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