tag:blogger.com,1999:blog-2182962435875556601.post8337695785318301346..comments2023-09-24T08:04:06.909-04:00Comments on FSK's Guide to Reality: Are the GLD and SLV ETFs a Fraud?FSKhttp://www.blogger.com/profile/11903396202330950362noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2182962435875556601.post-62231273164080364672009-11-07T06:30:27.679-05:002009-11-07T06:30:27.679-05:00"I couldn't imagine buying a piece of pap..."I couldn't imagine buying a piece of paper that claimed it was worth physical gold stored somewhere."<br /><br />Sure you could. Just buy it for a 99% discount if you think you have a 1% chance of delivery, 99.9% discount if you think you have a 0.1% chance, etc. So if you have 1 ounce of gold, you want 100 or 1000 ounces worth of gold certificates. <br /><br />"1. Paper claims on gold and silver are greater than physical holdings."<br /><br />Yup. The Non-Federal Non-Reserve is selling more gold than even exists. If people actually want delivery, they can get COMEX to retroactively change all futures to "cash/fiat settlement (at THEIR ARTIFICIAL PRICE!)". So they can just declare the market price to be whatever they want (by posting some insanely low bid and insanely high ask), and you have to take it!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2182962435875556601.post-8762610763709889212009-09-01T08:12:37.962-04:002009-09-01T08:12:37.962-04:00If you read commentary by James Turk of Goldmoney ...If you read commentary by James Turk of Goldmoney or at gata.org, you will find analysis that supports the same ideas:<br /><br />1. Paper claims on gold and silver are greater than physical holdings.<br /><br />2. Ridiculous manipulation is going on.Sashahttps://www.blogger.com/profile/16945032364324156460noreply@blogger.comtag:blogger.com,1999:blog-2182962435875556601.post-82457798896727413982009-08-31T14:39:47.256-04:002009-08-31T14:39:47.256-04:00I couldn't imagine buying a piece of paper tha...I couldn't imagine buying a piece of paper that claimed it was worth physical gold stored somewhere. If I did they would need to offer free insurance in the result that the claim was false. And some way I could guarantee the insurance was completely guaranteed if failure would result.<br /><br />I think this would be impossible and would only buy physical gold. The challenge would be to creatively store this gold. But I believe anyone with a good imagination could find a way. The trouble would be to not hide it beyond your own ability to find it.<br /><br />Fritzfritzhttps://www.blogger.com/profile/00983396188852117197noreply@blogger.com