Unless the contract is exercised for delivery of "physical"…
It's a paper game that the banks have done for quite some time.
The most important thing to do is look through the prospectus before making the pull.
https://www.silverdoctors.com/gold/gold-news/paper-gold-legalized-fraud/
Deutsche Borse and their FTD.
Some of this was way back for anon, but recall something to the effect of JPM and setting up large warehouses/vaults around the globe to store physical metals. Aluminum and Copper. But additionally, remember MF Global?
alleged here what was going down at that time.
https://silverdoctors.blogspot.com/2011/12/jim-willie-jp-morgan-crashed-mf-global.html
halfway remember the numbers posted by the banks never seemed to be questioned but always worked out to prevent the "runs".
and then the GATA and CFTC stuff….
https://americanfreepress.net/html/gold_price_fixing_217.html
That's the one.
NJ Senator after Lautenberg, Gov., MF Global, and then quietly whisked away.
Not to mention his status as Goldman Sachs alum.
The process of obtaining physical delivery where it gets into anon hands is convoluted and time consuming if you ever even get to that point. The metals market back during the financial armageddon was set aside but this has been a nice trip reminiscing. I wonder if anons remember where there boats sank?
https://www.rollingstone.com/politics/politics-news/jon-corzines-relationship-with-cftc-chair-gary-gensler-probed-60904/
Both Corzine and Gensler worked at Goldman back in the day, and the word is that Corzine personally lobbied Gensler to delay the implementation of new rules that would have helped prevent Corzine from raiding his own clients’ funds.
This whole issue smacks of the improper communications between other former Wall Street co-workers like Hank Paulson and Lloyd Blankfein. More and more, it appears that, as a matter of routine, federal regulators like Paulson (in 2008) and, later, Gensler reach out to old friends on Wall Street to negotiate/discuss the timing and the form of various policy changes, bailouts, and other regulatory matters. Inside information seemingly is traded with remarkable casualness.
>https://causeofaction.org/wp-content/uploads/2013/06/MF-Global-Summary-and-Analysis1.pdf
Those were some times back then. One of the things I had always pondered was whether WaMu getting a leg up on selling covered bonds in Europe was part of their demise, rather than the flimsy debt BS story that was bantied about as they were in better position financially than say Citigroup. Sacrificed by order of Herr Bair. Those were some crazy times back then. Nothing compared to now.