mauijeff

Has Gold's Downward Trend Ended?

The GLD ETF has created a wonderful derivative to sell gold that does not exist to satisfy the demand of gold investors. It is may opinion that the GLD ETF does not own anywhere as much gold as it claims. It leases it's gold out and has leases on yet other gold. GLD could not settle it's gold account without having to claim gold already claimed by others. So it's all a big scam (GLD was set up by J P Morgan) with the allusion that GLD is selling actual gold. If the spot price of gold represented the actual price of buying physical gold it would be much higher then the COMEX paper manipulators are pushing.

Ask yourself a simple question. If all the gold contacts in the GLD ETF were settled, what would gold cost per ounce?