Loading ...A Comex Bank Run For Scotia Mocatta
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Are we seeing a “run” on the “bank”?
Over the past 6+ months, clients of Scotia Mocatta, technically the oldest of all the Bullion Banks, have removed over 60% of their gold stored and kept in safekeeping with this company. Hmmm. Why the sudden rush to re-establish ownership and lay claim to gold held within The Comex vaulting system?
Again, nearly 60 metric tonnes of gold, stored by The Scoshe for their clients, have now been removed. And, over the same time period, total Comex registered gold has fallen by 85%?
Does this constitute a slow-burning lack of confidence or “run”? Are clients of Scotia Mocatta seeking to slowly, gradually reclaim their gold from the over-leased and over-hypothecated bullion bank system?
Would you want to be left holding the bag with nothing but paper certificates and warehouse receipts when the paper derivative pricing scheme finally collapses? Me, neither. And perhaps the closely-connected clients of the world’s oldest bullion bank feel the same way? If you hold gold in safekeeping with Scotia or any of the other Bullion Banks, you might want to follow their lead.
TF
more http://www.tfmetalsreport.com/blog/7170/comex-bank-run-scotia-mocatta