**CAF Note: Reported gold inventories show significant drops in the US and European positions**
By Jesse’s Café Américain
Here is one take on the gold inventory conundrum that I posted about last night. I am not entirely comfortable with the full extent of this analogy. Perhaps it is because I had always imagined that coat check rooms were for the most part honestly run with no leverage, lol.
“Quoted gold prices are like a coat check room at a nice hotel. Imagine that over time things develop so that there are 60-100 coat check tickets for every coat in the coat room. ”
Related Reading:
The Amazing Disappearing Gold Bullion: Major Precious Metal Inventory Changes in 2013
Total reserves (includes gold, current US$)
