Headline topics covered in this edition of Insight:
Is There a Run on the Fractional Reserve Gold Banking System?
The London Bullion Market Association clearing turnover statistics
The London Precious Metals Clearing Company
Monthly Gold Clearing Data Metrics
What Gets Weighed Gets Recorded
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In a nutshell:The LBMA data or clearing statistics essentially represent huge daily trading through unallocated accounts, most of which is classified as spot delivery, but which is backed by very small physical metal foundations.
The clearing statistics while interesting, need to be made more transparent and granular beyond the headline data. Otherwise they tend to obscure rather than illuminate.