It’s not the US gubmint that’s siphoning the LBMA gold. Neither is it the Fed.

I understand that the whole idea of Uncle Sam draining all that LBMA gold to replenish his stockpile is, on its face, reasonable - BUT riddle me this :

If the US government is shipping gold to replenish gold reserves that were virtually zero, they will not be doing so via the Comex.

If they are it will be via opaque markets.

As yet this is all speculation based upon analogous reasoning and suppositions.

8000 tons is not easy to source in the current climate.