Paper Gold’s Illusion: How COMEX and London Became the Ultimate Scams

COMEX is a leveraged paper casino — but London’s opaque benchmark system is the deeper fraud behind the world gold price

Introduction: Why call them “scams”?

First, a semantic note: calling COMEX or London gold “scams” is provocative. A scam implies fraudulent intent, deception, victims, and hidden wrongdoing. In most cases, the accusations around these gold markets are less clear-cut than a simple fraud, but critics argue that structural opacity, conflicted incentives, we…