Below is an email from one of KWN’s global readers and what he had to say about the action in gold and bitcoin was quite interesting.
December 13 (King World News) – This email came from one of the global KWN readers (Kevin W.): “At exactly 1 pm CST when the FOMC announcement was made, CME February Gold Futures traded 5,818 contracts in 1 minute – of cash settled fiat paper gold worth about $725 million. This is about 18 tonnes of fiat gold, representing 0.6% of yearly real physical gold mined worldwide (see chart below).
.6% Of Annual Gold Production Sold In 1 Minute!
Bitcoin Futures on CBOE, after 2:30 pm CST when the image below was created, had traded only 3,029 contracts of cash settled Bitcoin all day worth only $54 million, representing a measly 0.02% of mined fiat Bitcoin (see chart below).
Not Much Trading In Bitcoin Futures
Let’s Not Forget The Fed
Can’t wait until Aurora, Illinois comes into action this Sunday when CME Bitcoin Futures start trading and the volumes increase by 30-fold. Lest we forget, the NY Fed moved their trading desk to Aurora not long ago. And their quantity discount received at CME for large volume trades…
And lastly remember the FBI admits to owning 2.5% of Bitcoin! Federal Bitcoin Institute – FBI has their profits all but guaranteed.”
King World News note: It will be very interesting to see how Bitcoin trades as the paper market begins to become more of a factor.
***KWN has just released “the most important in over a decade” top trends for 2018 with Gerald Celente and you can listen to to the remarkable audio interview by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Here Is What Is At Stake Post-FOMC In Gold, Silver And The US Dollar CLICK HERE.
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