Jeffrey Christian Has A Second Chance To Disprove The Gold Ponzi Scheme, Fails

"I was actually pretty clear but there are these troglodytes in the market that like to distort what whatever anybody says and they distorted what I said. What I said was that if you look at the turnover in the major futures and options markets, and the clearing volume in the London dealer market in gold and silver, you would see that there are 100x times as many ounces trading in those derivatives markets as is produced by mines and refineries every year and used and purchased by fabricators and investors. So that's a 100 to 1 ratio of derivatives to underlying physical new supply. It's not a 100 to 1 ratio of the turnover of the physical market relative to the futures or derivatives market because the physical metal will turnover 5, 6 maybe 8 times in any given year. But you do have a much larger derivatives market in gold and silver than you have a physical market, and that ratio is about 100 to 1."

Jeffrey then proceeds to once again ignore the underlying issue, and highlights other massively diluted ponzi construct markets in which there is a discrepancy between physical and derivatives.