COMEX Won't Default...This Will Happen Instead - Robert Kientz
Liberty and Finance Jun 26, 2026
Summary
The guest argues COMEX, the gold and silver futures market, is structured to prevent default, making a classic run unlikely.
A formal gold revaluation, not a default, is the real risk: every futures and options contract price point would need resetting.
Any revaluation would need rulemaking changes and possibly new commodities legislation, and the guest expects traders would be made whole.
Whoever controls commodity pricing and settlement currency holds financial power, and the guest sees that power shifting from West to East.
Robert Kientz's takeaways
- Top takeaway Kientz argues a normal run on COMEX cannot happen because every aspect of the COMEX market is set up to prevent a default.
- He notes the world has been drawing gold and silver out of COMEX at an unprecedented pace for the past five years, despite media narratives.
- He says the real scenario is a gold revaluation, which would reset every price point at which traders are long or short gold across futures and options.
- He does not expect a revaluation by July 4th, arguing it would require rulemaking changes and possibly new commodities legislation, though he thinks it is entirely possible and that traders would be made whole.
- He argues financial power over commodity pricing is being stripped from the West and moving East, with all signs pointing to the end of the dollar era.