Shysters thinking of new rules because gold for physical delivery is running out

Tellingly, the U.S. gov't drastically reduced the amount of gold coins it sells.

Alarm bells are going off within the walls of "insider" castle.

http://seekingalpha.com/article/128...s-what-happens-next?source=article_sb_popular

 

They need to call cash for gold.

 

Big brouhaha about nothing. The NYSE mini gold contract is a joke that is barely traded. Open interest across all contract months of YG isn't even 5000 contracts.

The Seeking Alpha article is so full of nonsense that it smells of a PR stunt by NYSE Liffe U.S. to stir up some interest in their pathetic gold contract.

If you have the cash you can buy all the 100 oz and 400 oz bars of gold that you can pay for. The people whining about a shortage of physical gold can't even afford a 100 oz bar let alone a 400 oz bar. The people with the cash just buy the gold bars without making any noise.

 

If one of those bars falls on your foot, does it hurt more or less at $1000 an ounce or $500 an ounce?

 

jeb9999, thanks for posting the fact that there is no shortage of physical gold (or silver for that matter). I have to explain this to the idiots in my office every day. The shortage is only for retail small timers who are looking to buy a few coins.

 

Some day, it may go to cash settlement like S&P and other instruments.

 

Peolple who buy 100 and 400 oz bars can afford to buy steel toe shoes.