Hi Burx,

I am the resident disbeliever in "Comex going bust". I am not saying it can't happen, maybe it will happen, but I think you are just as likely to see a certified Loch Ness monster wash up on shore at the Forks in Winnipeg. I do some writing myself, and I think that many of the people who write these articles understand that telling part of a story is often more interesting than telling the whole story. There was a line in Portee's post that most gold transactions take place "opaquely, in complete darkness". ??? Most of my grain sales are not done on the futures market, though the buyer may hedge tham there. Does that mean I too am involved in shadowy manipulation of the critical food markets? I report them to Canada revenue.

As far as the exchange going bust, they are really an intermediary between buyers and sellers. While they facilitate trading and delivery of the goods (if that is what is done), they are not themselves a warehouse of commodities. Please look up my post of a couple weeks ago titled something like "Comex defaults arrrrgghh" so I don't have to rewrite what I have already written, and perhaps the reply to it from hrattle. Meanwhile, I will take some bets on Comex going bust, maybe 10 shares of KXL, or some $ to your local food bank.