As Phony As A Three-Dollar Bill And Questions From An Old-Fangled Guy

Yesterday in my subscriber post, I asked the following question: How can the HYG (high-yield) ETF only be off 10% since May given that the great majority of junk bond issues show 10% plus losses for three months running? Is there a unique two-tier pricing system? Debunkers, please help an old-fangled guy understand.

While we are at it, does anybody have the answer to the Crimex question, because frankly I don't. I wrote to the Crimex, but they haven't gotten back.

Debunkers, feel free to educate us. Yesterday, deliverable gold at the Crimex dropped 578.81 ounces to an on-fumes 161,642.61 ounces. This odd little number represents 41.982 million ounces of paper-gold futures contracts. Do they have 1,620 shaved “deliverable” gold bars on hand with an average weight of 99.78 ounces (161,642.61/162,000)? The Crimex supposedly trades in 100-ounce bars. What's with the odd lots? From where are such “deliverable” bars derived? Is there a special mint for such bars?

And by the way, has anyone comes across this three dollar bill yet? I seem to be stuck in my old-fangled world and confused. Please help me.

 

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