What are all those monetary metals derivatives held by a few big U.S. banks?
Dear Friend of GATA and Gold:
GATA's and gold's old friend Larry Parks, executive director of the Foundation for the Advancement of Monetary Education (FAME, http://fame.org), calls attention tonight to the third-quarter 2017 report of the U.S. Comptroller of the Currency, which shows that just several government-insured U.S. banks hold $45 billion in derivative positions related to monetary metals.
The chart disclosing these positions, appearing on Page 32 of the OCC report, is reproduced at GATA's internet site here:
The full OCC report is posted at GATA's internet site here:
Parks asks: Are these derivatives a "pass-through" on behalf of bank customers or are they held by the banks on their own behalf?
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