Is gold now prophesying?

King World News (and other sources) are telling us that the paper claims on gold now total 252 times as much as the amount of gold that is available for sale. See the chart here:

http://kingworldnews.com/billionaire-eric-sprott-we-have-just-seen-a-shocking-event-that-only-happens-once-in-333-million-lifetimes/

Is gold now prophesying? The timing of this ratio is interesting, since this week is 2520 weeks since the Six-Day War in 1967. In a long-term view, 2014 saw the end of 2,520 years of beast rule since Babylon was given the Dominion Mandate in 607 B.C. This, of course, factors in the century from 163-63 B.C. when the Greek beast nation was deprived of ruling on account of the Maccabean Revolt.

So now we see that investors have purchased gold contracts (on paper) totaling 252 times as much gold as is available. If even 2% of them actually took possession of the gold that they have purchased on paper, the entire stock of the COMEX would be wiped out. They are gambling that hardly anyone will actually take possession but will continue to play the paper game.

Conversely, all the speculators who have sold those futures paper contracts to investors would have to default, because they would be unable to deliver the gold that they sold. Both sellers and buyers would then be in trouble.

Of course, the only reason investors keep paper assets is because they are speculators who are using gold contracts to try to make money on the rise and fall of the spot price of gold. Their purpose is not to store wealth in preparation for a future collapse in the value of money. Once someone takes possession of gold, they exchange their money for gold and can no longer use that money to invest. Such an exchange means that the person believes that gold is a better store of value than cash. Whatever cash is used to purchase gold is cash that can no longer be invested in the paper market, because the cash has found a long-term home.

This is the basic difference between an investor and a holder of gold. Most of us are not investors, and we lack the ability to move money quickly and easily. What we need is a long-term home for our assets, such as physical gold. Investors are positioned to jump quickly from paper contracts to physical holdings, and in this case they are betting that others will not claim the remaining gold in the COMEX before they do.

In normal times, their risk is low, but it takes only a single shock to change the situation. Then the herd mentality takes over, and the first ones to lay claim to the gold are the winners. The rest will discover that they own a lot of expensive paper.

In an interview, billionaire Eric Sprott tells us that India has imported 8,000 tons of silver in the past three years.

http://kingworldnews.com/eric-sprott-9-19-15/

This may be another sign of insufficient gold for the gold-loving Indians. They are looking for alternatives to store their wealth.