by Jim Rickards, Casey Research:
Imagine you’re in a theatre. Full of people…
If one person screams and runs out of the theatre, you and the other 250 people may not react much. Fact is, our brains are programmed to write some things off as an outlier event.
However, what happens when 10 people run out? Or what about 60 people screaming and running out of the theater? You may start to get antsy in your seat, right?
Well, right now we’re seeing the first people run out of the burning currency theater…
And run into the safety of physical gold. Take a look at this chart…
You’re looking at two lines.
The top “gold” line represents the physical supply of gold at the COMEX warehouse (this is where gold is stored for the commodities market). As you can see, the amount of gold stored has dropped considerably in the past 12 months.
But more important is the “black” line. See that super spike to the right hand side of the chart? That’s the “owners per ounce” of gold. It shows that there are over 500 owners for each ounce of gold stored at the COMEX warehouse.
This is an unprecedented event.
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