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Rehypothecated Leverage: How Archegos Built A $100 Billion Portfolio Out Of Thin Air… And Then Blew Up

Rehypothecated Leverage: How Archegos Built A $100 Billion Portfolio Out Of Thin Air… And Then Blew Up One week after the biggest, and most spectacular hedge fund collapse since LTCM, we now have an (almost) clear picture of how Bill Hwang’s Archegos family office managed to single-handedly make a boring media stock the best performing […]

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Gold Analyst Warns of Leverage: “There Are About 325 Paper Ounces For Every Physical Ounce Backing It”

Gold Analyst Warns of Leverage: “There Are About 325 Paper Ounces For Every Physical Ounce Backing It” Back in September Zero Hedgereported that something snapped in the COMEX market and all indicators suggest there was a relentless outflow in registered gold. At that time there were about 202,054 ounces of gold available for delivery. To put that into […]

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Anyone Who Believes The COMEX Numbers Is Very Naive (They Are Much Worse!)

Anyone Who Believes The COMEX Numbers Is Very Naive (They Are Much Worse!) “The information in this report is taken from sources believed to be reliable; however, the Commodity Exchange, Inc. disclaims all liability whatsoever with regard to its accuracy or completeness. This report is produced for information purposes only.” – disclaimer now posted on […]

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Comex On The Edge? Paper Gold “Dilution” Hits A Record 124 For Every Ounce Of Physical

Comex On The Edge? Paper Gold “Dilution” Hits A Record 124 For Every Ounce Of Physical Over the weekend, we got what was merely the latest confirmation that when it comes to sliding gold prices, consumer of physical gold just can’t get enough. As the Times of India reported over the weekend, India’s gold imports shot up […]

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The Rehypothecation of Gold, and Why It Matters

The Rehypothecation of Gold, and Why It Matters Claiming to own X quantity of gold is one thing, and reporting how many times the gold has been pledged as collateral is another. When correspondent Scott A. Batten offered to write an explanation of the rehypothecation of gold and why it matters, I quickly accepted. Like many […]

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It Wasn’t The Swiss: Continuing Plunge In GOFO Means No Easing Of Worst Gold Shortage In Over A Decade | Zero Hedge

It Wasn’t The Swiss: Continuing Plunge In GOFO Means No Easing Of Worst Gold Shortage In Over A Decade | Zero Hedge. Yesterday, when we commented on what was largely a pre-determined outcome of the Swiss gold referendum, we said that there still “is the question of what happens to the tension in the gold swap market: […]

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Olduvai IV: Courage
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