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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Is GLD a safe way to play gold?
PostPosted: Wed Jan 23, 2008 3:18 pm Reply with quoteBack to top

I always thought so. Then I read this, and now I don't know ...

http://www.financialsense.com/...../0122.html

Dreamer -- what do you think?
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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: Is GLD a safe way to play gold?
PostPosted: Wed Jan 23, 2008 4:32 pm Reply with quoteBack to top

I agree with the author.

I do not buy GLD or SLV due to the fact that JPM is involved. JPM is the Fed fascist corporate face. I believe that they are involved in the precious metals ETFs as a control mechanism and their objectives are to control the prices and screw the people.

I buy individual gold and silver stocks and of course gold and silver bullion coins. If you want a precious metals ETF then buy GDX.

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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Is GLD a safe way to play gold?
PostPosted: Wed Jan 23, 2008 4:42 pm Reply with quoteBack to top

Thanks for the advice.
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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: Is GLD a safe way to play gold?
PostPosted: Fri Feb 22, 2008 5:22 pm Reply with quoteBack to top

Why I would not buy the GLD or SLV ETFs created by JPM and Barclays.

The Fishy Smell Of Streettracks Gold ETF's Reported Holdings

Author: Dan Norcini

Something smells mighty fishy to me about what is going on in this ETF of late. Some of us have long believed that the inherent flaw in this ETF is in its auditing process which is less than transparent. If the bad guys who comprise COT and are the price managers on behalf of the US monetary authorities needed another source of gold for the supply that they feed into the market to suppress the price, the ETF is a perfect vehicle for this. I find it a huge stretch of the imagination to see gold soaring into all time highs and the one major indicator of investment demand for that same metal sitting there unchanged when it comes to reported holdings for nearly two weeks! I just read this AM that platinum and palladium holdings in the London ETFs for those metals are soaring because of investment demand. Why then is the gold ETF not reporting a sharp increase in its holdings? To believe that nothing has changed in there is to believe that the sun rises in the West.

http://www.jsmineset.com/

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The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
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