*
*
*
Remember
Forgot password ?
Connect
Register for a free account
Sign in with Facebook
Close X
Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
English
French
Subscribe
Log in
Word, article or author
Company name, symbol
A mine, a project
Gold bullion
Silver bullion
Gold & Silver Prices in
Choose
Chinese
Hindi
English
Spain
Arabic
Thai
French
Deutch
FORUM
Gold and silver
Political, Dollar, USA
It's nice to talk about...
Physical Gold and Silver
Ebay, Amazon, Shop
Gold and Silver Mining
Technical Analysis
Gold and Silver currency
Numismatic
Economy - Stock - Property
Brainstorm
Gold and Silver ware
Announcement
Gold price handling
The best
The best places
24hGold
WORLD PM NEWSFLOW
All
Gold
Silver
Copper
Zinc
PGM & Diamonds
Other Metals
Oil and Gas
Uranium
Mining News
PHYSICAL GOLD & SILVER
Gold and Silver Data
Gold Bullion Prices
Ebay Gold Search Tool
Gold Coins Premiums
Silver Bullion Prices
Ebay Silver Search Tool
Silver Coins Premiums
RESOURCE STOCKS
Company profiles
Reserves and Resources
Projets, properties and mines
Production
Technical Analysys Tools
Latest Discoveries
Mining Stocks newsflow
Mining Stocks TrendPower
STATISTICS
Statistics by Country
Statistics by Metal
Precious Metal Price in 159 Currencies
Metal Prices
Market Indices
GOLD UNIVERSITY
Gold Essays
Analysts and Contributors
Commentators
Latest comments posted
TOOLS
Gold & Silver Converter
Graph Generator
Nissab and Zakat
Rss
USEFUL
Subscribe
Contact-us
About
Articles
NewsFlow
Gold & Silver Prices
Market Briefing
Recevez notre Marketbriefing
In the same category
Through the Looking Glass: The Cult of Power
Jesse
Till Judgement Come
Jesse
The Dark Supremacy of Power
Jesse
The Destruction of Leviathan
Jesse
From Enemy Occupied Territory
Jesse
Interlude for a Quiet Afternoon: Why do I blog?
Jesse
The Fashionable Habits of the Plutocracy
Jesse
Principalities and Powers - In Service to the Unspeakable
Jesse
The Privileged Few: Their Myths and Illusions
Jesse
The Father of Lies and His Children of the World
Jesse
Sic Transit Gloria Mundi
Jesse
A Mad and Blasphemous Rebellion Against Heaven
Jesse
Sam Maher
Member since October 2016
15 commentaries
-
0 followers
has posted a comment on the article :
Gold Prices Sink Back to Feb', Silver -7.5% as US Fed Sees 3 2017 Rate Hikes, Bond Yields 'Break 35-Year Downtrend'
- Bullion Vault -
"Giant gold-backed investment fund the SPDR Gold Trust (NYSEArca:GLD) shrank Wednesday by the equivalent of almost one day's entire global gold-mining output, retreating as shareholders liquidated to the smallest size since mid-May at 849 tonnes."
This is questionable at best. Paper gold GLD claims to be fully backed by physical gold bullion but yet it refuses to give retail investors the right to redeem for any of these ‘claimed’ gold bullion. This fact alone would mean GLD shares are nothing more than paper at the end of the day. Furthermore, GLD’s prospectus is chalk full of weasel clauses and legal loopholes that allows the fund to get away without the full physical gold backing. One good example of this is the clause that states GLD has no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this audit loophole. I’ve also verified the following to be true and welcome everyone else to do so:
"Did anyone try calling the GLD hotline at (866) 320 4053 in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I asked about how much of the gold was insured, the representative proceeded to act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent would not know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors."
"I remember there was a well documented visit by CNBC's Bob Pisani to GLD's gold vault. This visit was organized by GLD's management to prove the existence of GLD's gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this "GLD" bar was actually owned by ETF Securities."
Commented
2703 days ago
Tweet
-
Send
Beginning of the headline :
GOLD PRICES sank to new 10-month Dollar lows Thursday as the US currency surged and Asian stock markets followed Wall Street lower after the Federal Reserve raised its key interest rate for the second time in 12 months. With the gold price losing $35 per ounce to $1126 between the Fed announcement and lunchtime today in London, analysts claimed the rate rise "was priced in" but gold's drop reflected shock at the Fed's outlook for more rate hikes...
Read More
Reply to this comment
You must be logged in to comment an article
8000
characters max.
Log in or Sign up
Dernier commentaire publié pour cet article
chers Vladi,il est lor, oui, effectivement, et alors ? un fonctionnaire crée de la richesse ? creuser des trous crée de la richesse ? si nous arrêtions, pour voir, de payer nos impôts, vos 55, fonctionnaires compris, font quoi fin du mois ? merci d'expl
Lire la suite
ferzi
- 20/04/2013 à 20:03 GMT
Note :
1
3
Top articles
MOST READ
A Mad and Blasphemous Rebellion Against Heaven
-
Jesse
-
Le Cafe Américain
The Father of Lies and His Children of the World
-
Jesse
-
Le Cafe Américain
Sic Transit Gloria Mundi
-
Jesse
-
Le Cafe Américain
Carnival Rides
-
James Howard Kunstler
Most commented articles
More...
Services
RSS feed
24hGold Mobile
Gold Data Center
Gold & Silver Converter
Gold coins on eBay
Silver coins on eBay
Technical Analysis
Fundamental Analysis