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Thanks for generously sharing your research. This is 1st day on your ss.

I've been a student of PMs 40 years and never knew how much idk until getting involved w PMTwit. Delighted to learn more at the feet of the sev masters sharing.

Question: As Im unable to interpret the data you report, can you kindly add a sentence or 2 to your postings to summarize its sigificance and key takeaway?

Eg I assume functionally bk BofA does not own all said gold but reps customer accounts (USG, FRB, BIS, hedgefunds?) Excludes derivatives.

If you have a published a book that explains how it can be used to forecast PM movements -- I'm happy to buy it.

Personally, given the early look at COT data FRB UST etc presumable receive, and its scrutiny by experts like GS, BA, JPM-C, yourself, Butler, MaCleod, Coleman, Vince etc, input into CRAY computers w nextgen AI models -- I assume its analysis is hyper efficient leaving me to wonder how you or any of the usual suspects gain any advantage but that's an aside to my original question: "what does it mean" to an active investor but not a day or cmdty trader?

Many thanks.

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You have to have at least 2 cups in a shell game!

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