Pinnacle Activity Ticker
Gold ETF's Read THE SMALL PRINT
If you want to invest in gold for safety or insurance purposes, buy the physical metal or the senior stocks and avoid the ETF's. These funds may or may not be holding gold (READ THE SMALL PRINT}but just a bunch of paper probably futures.More paper gold trades in one single day in Chicago than exists in the world. If all the buyers called for delivery of their gold, the exchange would default and you would be holding a worthless piece of paper.
IF YOU BUY PHYSICAL GOLD, TAKE DELIVERY BEFORE THE GOVERNMENT DECLARES HOLDING OF GOLD BY ITS CITIZENS ILLEGAL. Remember History repeats itself. It has happened before and will happen again. CNN says things are better but what they are really saying is the sinking ship is still sinking just not as fast.
Join Now! It's Free
Test Your Investing IQ
Do you know how smart of an investor you are?
Pinnacle IQ Brainiacs
784148
-
SchiffKnowsBest1,968Investor IQ 129 -
Investor IQ 120 -
simplesimple561Investor IQ 119
-
thinker701,058Investor IQ 119
-
CHowse386Investor IQ 119
Let Your Voice be Heard!
Do you have something to share with the community? We want to know what you're thinking.
Stock Challenge
| 1 |  | |
| 2 |  | |
| 3 | ||
| 4 | ||
| 5 | |
Featured Blogs
Pinnacle Prestige
The most experienced and helpful members in the Pinnacle community.
Community Talk
Re: Gold ETF's Read THE SMALL PRINT
I am not alone when I question the amount of physical gold GLD actually has. I suggest Pinnacle readers check out Kitco's website and scroll down to CONTRIBUTED COMMENTARIES AND look for an article by John Kirtley of Gold BIz .Com called MINING STOCKS OR FUNDS THE TUSSLE CONTINUES As you read the article "GLD" is highlighted in blue. Click on it and you will see two questiobs asked of "GLD" regarding their purchase of 45 tons of gold in FEB/09 and their answer.They were as follows: "WHO SOLD THE 45 TONS OF GOLD TO YOU?"and HOW CAN YOU PROVE TO OUR READERS THGAT YOU HAVE THE METAL AND NOT THE PAPER EQUIVILANT?" The answer from GLD was vague at best and amounted to "We DON'T KNOW" Methinks they have the PAPER EQUIVILANT. Just like Marie Osmond's hit song a few years back"Paper Roses" Paper Roses, Paper Roses. Oh how real those roses seemed to be. But they're only made of paper. Like your imitation love for me. Looks like we could be trading paper dollars for paper gold. Never assume anything except death and taxes.
Re: How Much Gold does GLD have?
Thanks Dangelo. Good point Lets hope GLD stores this offshore and out of reach of Uncle Sam if he gets any golden ideas
How Much Gold does GLD have?
OH Frank, here's your answer to how much GLD holds.
SPDR ETF IS THE 6th largest holder of gold in the world!
Re: Gold ETF's Read THE SMALL PRINT
There will never be a repeat of the depression where the government takes back everyones gold. It won't happen, this is not the doom and gloom situation your making it out to be.
Re: Gold ETF's Read THE SMALL PRINT
Contrary to most investors knowlege. ETF's cuch as GLD are not totally backed dollar for dollar and they are no substitute for the real thing. Do you know the current gold inventory of GLD? Do you know that the COMEX changed the rules on physical delivery of gold in that they are allowed to substi=tute real gold for shares of an ETF such as GLD and some of these ETF's were actually created by the COMEX. For the time being they have turned paper into gold, offloading their obligations for delivery by unloading it onto the ETF's This accounts for the huge increase in the number of shares in the ETF's BUT sooner or later the shit will hit the fan. The COMEX will collapse along with the GOLD ETF's As the little boy said to the crowd"THE EMPEROR HAS NO CLOTHES"Avoid paper at all costs and don't accept a piece of paper in exchange from Uncle Sam when he tries to coinfiscate your gold to defend the fiat dollar
Re: Gold ETF's Read THE SMALL PRINT
GLD is a holder for gold. Its units are backed directly with physical gold. So you're not holding just paper.
Re: Gold ETF's Read THE SMALL PRINT
Very good point. They aren't as straight forward as investors think.