Why Holding Warrants on COMEX Gold is Foolish

For anyone that holds warrants on physical gold stored at COMEX gold warehouses and have not yet made the decision to load out, this is an extremely foolish decision, and here’s why How many instances are required of people that bought and held physical gold within the global banking system that bankers defaulted upon before we realize that possession is all that matters when it comes to gold stored within the global banking system and not some worthless pieces of paper that grant someone a legal right to ownership of that physical gold. To begin, if you hold warrants on COMEX gold, you have never seen that physical gold, so how are you certain it is actually in the warehouses? 

In 2005, clients entered into contracts with Morgan Stanley bankers to purchase physical silver, gold, platinum and palladium from them in which they could take physical delivery at any time and held the paper contracts as “proof” of their physical precious metals ownership in vaults owned by Morgan Stanley.  However, when one client decided he wanted to take delivery of his physical silver purchases, Morgan Stanley bankers refused to deliver, and the client eventually filed a class action lawsuit in which Morgan Stanley paid out $4.4M in awards and damages, but returned no physical precious metals to any of their clients, an obvious admission that they had lied and purchased no physical metals even though the contracts they signed with clients required them to do so. In addition, In addition, if you’re buying your physical gold through asking for physical settlement as the means to close out gold futures contracts, congratulations, there is a good chance you are going to receive blood gold – gold sourced from illegal wars or criminal activities – as well.  Given that COMEX officials admitted that a ton of gold (pun intended) from criminal sources ended up in their vaults in the past, I would put the likelihood that gold stolen from nations in illegal wars and confiscations being held in COMEX gold vaults at 90% or higher.

But the 2005 Morgan Stanley case of precious metals fraud is just one of literally dozens of cases of people holding paper warrants and/or contracts that gave them legal title to physical precious metals held inside the global banking system that were never able to secure possession of the physical metals they allegedly “owned” inside bank vaults.  ABN Amro bankers, who represent the largest banking institution of the Netherlands also executed a similar scam as Morgan Stanley with their clients, entering contractual obligations with them in which they promised their clients that they had purchased and vaulted physical gold on their behalf, but then abruptly sending about 2,000 of their customers with whom they held this contractual obligation a notice in April of 2013 that informed their clients they could only receive the Euro prices of the physical gold they had previously purchased with ABN Amro but zero ounces of real physical gold. Though the client letter is of course, in Dutch, as ABN Amro is a Dutch bank, all you need to know is that the below letter informed clients they had no legal right to receive any of the physical gold they legally and contractually purchased at ABN Amro.

2013 abn amro client letter informing them of default on physical gold contracts

Nearly five years ago, in November of 2015, I also warned all Indian citizens to avoid being duped by their Prime Minister and to stay far away from a newly announced gold sovereign bond program, conjured up by the Reserve Bank of India (RBI) that required citizens to exchange their physical gold for paper gold bonds, and that paid a maximum annual coupon of 2.75%.  And even though the face value of the bonds rose in line with the spot prices of gold, the only way the bonds could be redeemed was in fiat rupees and not in physical gold, so the maximum annual coupon rate of 2.75% (adjusted downward to 2.5% in 2020), hardly makes up for the fact that at the end of the day, one only possesses fiat currency and not a single ounce of physical gold.  Furthermore, the savvy investor, recognizing PM Modi’s and the bankers’ plan to steal their physical gold through a gold demonetization plan that they deceptively labeled as a gold “monetization” program, could have elected to take the far better route of buying physical gold and taking out loans to solve their liquidity problems through gold financing companies like Manappuram instead of turning over their physical gold to the bankers in return for devaluing paper rupee assets. In describing their national gold bond program to the people, the RBI comically called  it a gold monetization program because they believe paper and digital rupees is real money and gold is unsound money. However, anyone that understands the basic tenets of money understands that India’s sovereign gold bond program is a gold demonetization program. Furthermore, given that the premium of real physical gold over spot gold is growing at a rate greater than 2.5% a year, there literally is no advantage to buying gold bonds over physical gold. For example, the price of a one-ounce Canadian gold maple leaf as of Sept 9 is US$2033. The price of spot gold is US$1931. If you sell your physical gold with a 2% bid-ask spread on physical coins, that means you would receive a price of 3.08% over spot. While the actual real net spread on physical buys and sells are eroded because one has to pay a premium over spot when buying physical, the peace of mind of actually owning physical versus just trading fiat rupees pretending to be gold is worth way more than a 2.5% annual coupon payment in my opinion.

Of course, those that hold warrants on physical gold stored in COMEX gold vaults will likely dismiss my warnings because there has not been a default on load out requests on vaulted COMEX gold this year. However, banks never default on such requests, until they do.

Finally, for those of you that have watched my recent podcasts about the power of integrity and the power of exhibiting courageous behavior in dark times, there is a saying that the poorest people in the world are the ones with the most amount of money, meaning that the 0.1% of the richest people in the world, were it not for their obscene wealth which attracts numerous parasites that only want to befriend them because of their obscene wealth, might have as friends, less than three or four people were they only in possession of a fraction of the amount of money they currently own, as their personalities and human qualities tend to be quite repugnant. Because such people normally dwell in spiritual poverty and darkness, many people that exhibit spiritual integrity and shine view the monetarily richest people in the world as dwelling among the poor. This of course is not to say the very wealthy people cannot be wonderful human beings. I know a couple of multi-millionaires quite well that I like quite a lot and that have a lot of admirable traits. I am merely stating that once someone’s wealth grows into the echelon of a Jeff Bezos, George Soros, Bill Gates or Mark Zuckerberg that the very traits they possess that enabled them to capture such obscene wealth are usually very dark, unattractive qualities. In fact, I’ve stated in recent podcasts that when I first revealed bankers were suppressing gold prices in the futures markets, besides the honorable people at GATA.org, no gold analyst supported me because supporting truth back then was a business defeating strategy and research analysts did not want to harm the bottom line of the companies for whom they worked.

The more you sell your soul to the devil, the more money you generally make, whether that industry is banking, agriculture, oil, pharmaceuticals, tech, real estate or retail. To reach the upper echelons of salary in any industry is near impossible without selling one’s soul, and as we are all conditioned in school to strive to earn the most money possible, many people have given up on humanity and stated that people will never choose to do what is right over immoral behaviors that earn that loads of money. Such people have concluded that there may be no way to win our current battle against the 0.1% of the ruling class that is taking humanity towards slavery right now, other than to completely move off grid, retreat to a remote area and become completely self-sufficient, like the Ladakh people of Kashmir, who build their own homes, tend to their own sheep, and grow their own food.  That is one way to remain pure of heart and spirit in a world that is full of impure people leading the way in finance and politics.  However, even going off grid does not ensure peace these days as China and India have sadly brought war to the doorstep of the Ladakh people recently in fighting over this disputed territory in which they live and now threaten to completely eradicate a way of life that the Ladakh have maintained  for centuries.

Despite the above tragedy, I do not agree that the fight against the new paradigm of slavery being instituted by the Great Reset being forwarded right now by the parasitic ruling class is hopeless.  One way we can win this battle is by continuing to teach and educate others about the liberating qualities of sound money and to fight to reinstitute the sound money of a gold standard or a bimetallic gold and silver monetary standard over the parasitic ruling class’s desire to reset the financial world into a 100% digital currency world that will cement our fate as slaves. Winning the monetary battle and instituting sound money systems all over the world would grant us our much desired freedom. However, that requires the participation of everyone that desires positive change moving forward, and I do mean the participation of everyone. Right now, I would estimate that less than 8% of the world is exhibiting the courage and conviction of their beliefs to move towards a better world.

To win our battle requires the participation of every single person taking personal responsibility and accountability for contributing to the creation of a better world and no more standing by and watching a small group of people pull all the weight of the work to achieve the goal that we all desire.  The power has always been from the “doing” and not from the “speaking” and certainly not from remaining silent and letting others take the hits in creating a better world because we are afraid. We must all take hits together because for every person willing to stand up and fight, the negative impact and brunt upon the people that are already fighting is diminished. And with every person that stands up and fights, that comments and speaks out, these actions will provide courage to other people to act that otherwise would have remained passive. I’ve witnessed, during my years of martial arts training, how just one student’s all out efforts during training can instantaneously turn a low energy class into one of the most exhilarating training sessions at a moment’s notice.

The parasitic class has been very diligent over the past few decades in working to strip us of our courage and our honor and to turn as many of us as possible into simpering cowards that use the cover of night to scurry back into the comfort of our no action, no accountability lives and shirk our responsibilities to our brothers and sisters around the world. Despite these draconian lockdowns pushing millions around the world into unemployment and into severe hunger, I still observe people failing to stand on the side of justice, simply because their need to be accepted and fit in overwhelms their need to fight for what is right.  And this is why I call for an end of inaction for every single person reading this article from this day forward. Not only is there strength in numbers but there is also safety in numbers and a heightened sense of safety is paramount to the less bold among our group, so it is incumbent upon everyone of us to create this security for them. As the number among us willing to act grows, we will finally begin to observe the very change we all desire in this world. But we can no longer honorably stand aside and watch fifty men and women do the work of a thousand. A thousand of us need to do the work of a thousand and be courageous enough to understand that we will likely take some hits along the way.  In my journey of action my first entrepreneurial creation was completely destroyed. But I am entirely okay with this consequence, because even though it created a couple of additional years of persistent 14 hour work days, had my first business not been destroyed as a consequence of speaking truth to power, I would not have had to create what I firmly believe will be a much greater gift to the world, my 20-course skwealthacademy (to be launched as soon as lockdown conditions ease up). Instead, I may have already been retired, defeated by the parasites and turtled into a shell of apathy, long removed from this fight. But it is the struggle that keeps the collective fire burning. I 100% believe we can win this fight. If I didn’t believe this, I wouldn’t keep writing these articles and posting videos on my youtube channel.  I know that most of you reading this believe this too. But it’s high time we all turned our beliefs into conviction and action and pre-emptively reset the parasites that wish to reset us back into their utopian vision of a multi-billion slave force to be used and deployed in any manner they desire.

Stephen Hawking once stated that we had better hope that if there is alien life in this universe that they do not find us because he had little doubt they would view us much like we view ants, and that they consequently would colonize us and turn us all into a permanent slave class that served them. The truth of the matter is that we do not need alien visitors to accomplish this. The 0.1% ruling class is already carrying out this mission to enslave us all. For those of us still unable to digest and internalize this fact, the greatest push in their creation of a new paradigm of slavery has always been the control the parasites have seized through the implementation of their fiat currency system, in which money used throughout the world is literally backed by nothing and its value is entirely dependent upon only what the ruling class tells us is its value every day of every month of every year. The last phase of their program of financial slavery is to institute a global 100% digital currency platform that I first predicted more than eight years ago,  and which the parasites are now aggressively pushing forward under the cover of the covid19 “crisis”. Consequently we either take action together right now, or in less than five years, the worst possible scenario for humanity described by Stephen Hawking under an alien invasion becomes reality, without a single alien ever visiting planet Earth.

are warrants on COMEX gold destined for default in the future?
click the above image to play

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other recent skwealthacademy content:

3 September: My Warning to Day Trading RobinHooders That They Are About to Get Slammed

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Soon to be released: “8 Minutes that Explain the Perpetual Covid19 Cycle of Lockdown, Infect & K*ll”

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