“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot
10 July 2013
COMEX Gold Inventories - A Towering Citadel of Paper
Lower and lower, to new record lows.
Weighed, and found wanting.
Who is running this sideshow?
And where will it end?
Let's take a closer look at today's gold market action on the COMEX...