"When I began the Ponzi scheme I believed it would end shortly and I would be able to extricate myself and my clients from the scheme. However, this proved difficult, and ultimately impossible, and as the years went by I realized that this day would inevitably come..."
Bernard Madoff
The August delivery period on the COMEX ended last Friday with a little over 701,000 ounces of gold marked as deliverable in their warehouses.
Higher prices may be required to pry more ounces of real bullion out of storage and into the deliverable category.
August has passed, but September has just begun. And soon enough the winds will turn cold.
Weighed, and found wanting.
Stand and deliver.
