And as to the notion that the Fed has sold half of our nation’s gold, I think that is being generous as hell, as I see no reason why the Fed would stop at only half.

Junior Mogambo Ranger (JMR) Gary S. sent me the chart of “30-Day Gold Lease Rates” from Kitco.com, which definitely shows that the one-month gold lease rate was less than zero. He asks, “The lease rates on 30-day gold and silver are negative?!?! What does that mean?