Kirian van Hest: Death of the COMEX in 2020
Tom welcomes a new guest to the program, Kirian van Hest. After reading about Lehmann’s collapse in 2008, he developed a “rabid fascination with economics.” In February, he warned his Twitter followers of what was coming, successfully calling the top of the market and recommended rotating out of the dollar and into gold.
Kirian explains how Comex futures contracts function and how standing for delivery works. Typically the Comex rarely delivers many bars since it’s mostly a speculation system for banks. However, when the panic set in during March, deliveries of gold and silver shot up to historic levels.
He discusses how contract numbers were recently manipulated through something he coins, “shadow contracts.” He believes this is how the Comex has been looted of all remaining silver and gold and that, “This is how a skillful manipulator would normalize their fraud.” This contract pattern has now ended, which likely means that all the Silver and Gold are gone. JP Morgan has exited the Comex market, and Kirian believes, “The big players have already played the game, won, and left.”
Kirian believes the Comex will go bust by December or January and that metal prices will go through the roof before that happens. There are some extreme changes at the Comex as most open interest has rolled over into December after the election.
Recently, a couple of pension funds have begun allocating a few percent of their portfolios into gold. Kirian demonstrates that not even one of these funds will be able to obtain many gold contracts. It seems they are too late to the game.
Time Stamp References:
0:55 – Market crash prediction.
3:30 – Comex and how futures function.
5:00 – Open interest and shadow contracts.
10:45 – Risk to silver and gold ETF’s.
14:45 – JP Morgan’s position in gold/silver.
22:10 – Price manipulation and sideways pricing.
28:30 – Pension funds and allocating into gold.
30:10 – Contracts rolling over into December.
Talking Points From This Episode
- How Comex futures function.
- Shadow contracts and Comex contract numbers.
- How ETF’s could be vulnerable.
- Why pension funds won’t be able to get gold.
After the Lehman crash in 2008, Kirian “Deso” van Hest developed a rabid fascination with economics. A decade of reading later, he correctly predicted the virus becoming a pandemic, the market crash in February, The dollar high/gold bottom in March, and various other successes.
And now, he’s predicting the imminent collapse of the COMEX.
Guest Twitter: https://twitter.com/desogames