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What is going on? It would appear that they are slowly trying to morph the Comex into a pure paper exchange. And never require actual physical delivery? If we had the resources and time, we would absolutely hire a good attorney to look into this and litigate the matter We will be getting a oz bar, but why would they be doing this unless they are out of mini bars - and what happened to the bars we were told - via the Comex warehouse - that were going to be delivered?
So, yes they are refusing delivery in a way. And the other point of highlight is that they may be issuing multiple WDR's against the same bar, expecting that everyone with a WDR will leave the bar at the Comex. I suspect that may have happened here It looks like the warehouse delivery receipt is only used for the mini-contracts. However, if you take delivery of a oz contract and have the Comex safekeep it, what's to prevent the Comex from issuing multiple vault receipts against the same bar?
I am also just informed that our RJ O'Brien guy told us that they had been processing delivery of a lot mini-contract bars until today with our situation. Now Comex is not delivery mini bars. Anyone who has gold being safe-kept at the Comex is an idiot. The best place to keep it if you don't want to hold it at home is First State Depository in Delaware, which is where we have our metal delivered and kept
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