2012-05-29 — alphavn.com
``The CME and ICE have been given these resources because those resources need to be in place. If there was to be a failure of the COMEX or ICE due to an inability to deliver product to those longs who stand for delivery then the following course of action would take place... (1) The COMEX would declare force majeure and settle all contracts in Dollars. Stiffing the longs who stood for delivery. (2) Those dollars would have to come from the Federal Reserve...''
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