Within a half hour of each other today the leading business television networks in North America reported doubts that gold exchange-traded funds either have the gold they claim to have or can get enough real gold to meet likely demand.
The first doubt was expressed on CNBC in the United States, where market analyst Rick Santelli comments at 5:30 into this segment:
The second doubt was expressed on BNN in Canada, where reporter Niall McGee commented at length:
There seems to be growing consensus in favor of what GATA long has been urging gold and silver investors to do: to take possession of their metal or make certain that any custodian has got it in allocated and audited form, especially since the custodians of the largest gold and silver ETFs are also the biggest gold and silver shorts, a grotesque and unacknowledged conflict of interest:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
2 comments:
I totally agree with you, why take the risk with an EFT when it is so easy to buy physical metals.
Please check out the blog I maintain for the Australian Bullion Company. Our company delivers physical precious metals around the world or stores it securely and discreetly in Australia. We also offer bank account style accounts (balance listed in ounces of metal) without any ongoing fees.
Also there is no sales tax or VAT for international buyers.
See our blog: http://ausbullion.blogspot.com/
Great post.
Post a Comment