Recall last month (30 Sept)

"...panic in the London gold market around September 30th, 2009 as participants in the market wanted to take delivery of their purchased gold and refused generous cash settlements that were offered instead."

Given the rumors of fractional reserve type of operations at the London OTC market and the demands of very large "owners" of gold held in London, one must consider a repeat of last months last minute demand for physical. This is just a sign that some big money considers physical in one's possession to be much more valuable than the supposed ownership of unallocated gold held by the London exchange.

In September Adrian D wrote:

""A couple of months ago Greenlight Capital, the large hedge fund, switched $500 million of investment in GLD to physical gold bullion. ….Apparently Germany has requested that its sovereign gold held by the NY Federal Reserve Bank be returned to Germany. Hong Kong has requested the same of the Bank of England that stores its sovereign gold. Robert Fisk, a respected journalist for the UK’s Independent newspaper, reported this week that the Arab oil producing states, Japan, Russia and China have been holding secret talks to replace the dollar as the international reserve currency and as an accounting unit for trade. He reports that the basket of currencies they propose instead of the dollar would include gold! If gold is going to regain its monetary role then you can understand why those in the know want actual physical bullion. There are some very real and significant signs that a run on the bank of the Gold Cartel for physical gold is commencing""

This must be considered when wondering why the Boyz have had such a difficult time hammering the price of the metals. They hit them every day with huge amounts of paper and they keep bouncing back. Adrian's article "How Much Gold has been Sold that Doesn't Exist?" lays out the case for London running a Ponzi scheme. No doubt the CRIMEX is much worse and the world nows it. We get a front row seat to see the effects of the world finally waking up to the criminals incharge of US/UK metal exchanges. Physical in hand is the only way to protect oneself.

I expect that we could soon see the day where some very "rich" people and large institutions could find themselves broke, the victims of criminals that will never be procecuted.

Keep your eyes open and your physical stored safely. The times, they are a changin!