It’s not about their inventories.
It’s about the fact that they have been selling contracts.
Now, they add a disclaimer to their reporting that basically says “Hey, don’t blame us, we’re not the counterparty...”
That’s as close to fraud as you can get.
Of course it is. That's what every idiotic article like this is about. Failure to deliver. OMG! Where did the gold go? Problem is that no failure to deliver has ever happened. Never will, barring a nuclear war that destroys NY.
It’s about the fact that they have been selling contracts.
Your statement is absolutely false and demonstrates that you have no comprehension of reality. The idea behind leasing gold is that the gold gets sold to buy U.S. Treasury notes or bonds to scalp 1 or 2%/year.
The gold didn't disappear, it still exists -- someone else owns it. Guess what? They store it somewhere. Like the Comex. Whoever sold it buys Comex (or other futures) contracts to hedge their price risk. Nothing really changed, on net, and the gold likely never moved from its repository. Moving gold around is expensive. The article is just the usual BS.
Now, they add a disclaimer to their reporting that basically says “Hey, don’t blame us, we’re not the counterparty...”
They said no such thing. Your claim is total crap. As is all the worthless junk posted by people like you who don't have the first clue about the Comex, futures, or the metals markets.
That’s as close to fraud as you can get.
Only in your very feeble and fevered imagination.