Is Japan “Inc.” Pulling Out Of The Comex And LBMA?

One of Japan’s largest global precious metals trading companies, Mitsui Precious Metals, is closing down its operations in New York and London by the end of 2015.  Note that it will maintain its operations in Tokyo and Hong Kong – interestingly:   Mitsui Pulls Out Of NY, London.

Mitsui is one of the largest business groups in Japan and one of the largest corporations in the world.  “When in doubt, pull out.”  In my view, this move reinforces the growing global fear of the massive paper to physical gold/silver leverage embedded in the NY/London banking system.

Remember, we are able to assess only what might be available to back visibly traded paper gold and silver derivatives (Comex futures, LBMA forwards).  And reported inventories are based on reports submitted by the bullion banks and Central Banks.  Do any of us really trust these bank reports as reported without visual confirmation and independent audits?

In fact, I will go as far to say that any analyst in this sector who presents any analysis and commentary based on bank-generated gold/silver inventory reports that does not stipulate up front that any and all information is based on reports that may or may not be accurate is thereby presenting invalid analysis.

missingbullionAnd, too be sure, all analysis that can be reasonably issued in entirely incomplete because it is impossible to assess the realistic exposure of OTC precious metals derivatives.   Even the banks who issue these opaque securities likely are in the dark.

I would suggest that Mitsui’s move pull out of the NY and London – thereby joining Deutsche Bank and Barclays – is symbolic of the world’s increasing perception that the New York and London financial markets are the biggest Ponzi schemes in history.  At the very least, it suggests that the world of growing weary of the fraudulent paper gold and silver markets on the Comex and the LBMA.

 

16 thoughts on “Is Japan “Inc.” Pulling Out Of The Comex And LBMA?

  1. Dave, you got it wrong again. They are pulling out because they don’t want to be in the pet rock business. 😉

  2. Interesting article, wether they’re forming new relationships or not is moot, fact is any one investing in metal to preserve capital should be taking metal out of this ponzi. Western government’s are refusing to see they must re collateralise the entire system or it will collapse. I think Faber is right when he say eventually they are gonna blame gold “bugs” and most peons’ will probably believe them. That story on Juniors Dave, been thinking a lot about a company SVL here in oz, their shares spiked 50% a coup[le of days back..been watching them for about 5 years now…curious what you think?

    1. red, I have a question about real estate in Australia. I was looking up the NSW coastline on Google Earth and Google Maps and it is striking all the little towns there that are made up entirely of suburbs. Every few km. Is this all recent building activity due to the bubble, or were these places there 20-30 years ago? I look at them and wonder where everyone works since there doesn’t seem to be that much agriculture around most of them, they are just these little suburb towns with rows of houses on small lots, surrounded by bush until the next town.

      Google Earth is great, you almost don’t need to go on vacation anymore, you can experience a virtual vacation on GE and clicking the photos and researching places on Wikipedia! That is probably what the bankers want anyways, they don’t want us having enough money to take off.

      1. Mark,
        Be a bit careful with that area between Kempsy and Grafton , subject to flood a lot of that area, beautiful all the same. Personally I’d be looking at acreage in the area, better value and great production for high rainfall.

  3. In July I released “The Silver Users Association is Shrinking”
    http://sgtreport.com/wp-content/uploads/2015/07/The-Silver-Users-Association-Is-Shrinking1.pdf
    The two largest members, Du Pont and Dow Chemical, members since before 1950—pulled out as of early last summer. Tiffany & Company and Ferro Corporation also withdrew. The Mitsui interests have usually also been listed. Someone is attempting to sidestep a scandal. Forgive and forget that they were members? Not in my perspective they remain culpable of collusive price suppression for several generations.

    1. I published something Friday and then not again until yesterday. Strange that you are not getting the updates – no idea what’s going on there…

  4. Hi Mark,
    The thing in Oz is that from Cairns through the Bowen basin all the way pretty much to the Entrance in Victoria, down the eastern seaboard is massive coal seams. All those little towns you talk of between major Cities’ have previous settlement history , the thing about Oz is distance can be incredibly deceiving, hence a lot of tourists’ get lost here a lot more than reported. But most regional towns centres’ have big Ag and mining of some sort. Also people building in those zone mainly people sold up in Melbourne , Sydney and with good kaching go bush…so a defifinite spin off from inflated city prices’

  5. FIGHTS between: US – ENGLAND vs GERMANY – JAPAN = (DB-VW-TOYOTA- NISSAN) vs (JPM – GS – BAC – C – BRITISH BANKS)?

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