Mostly: Classical

[ItsAllCyclical]

Thanks for posting. One paragraph in particular really spells out GATA's case w/regards to the ETF:

>> My understanding is that the GLD fund lost 15 tons of gold yesterday. It is looking more and more like GLD was created to further help in the management of the gold price. If the fund lost 15 tons of gold yesterday, it means that the stock was trading at a discount to the NAV of the fund. The fund was then forced to buyback the stock and sell the same amount of gold at the market. What we have here is an instrument that owns gold that can be forced to sell gold at the market anytime somebody (the powers that be) shorts or sells enough paper certificates to drive the stock price below the value of the gold in the fund. If the SEC is allowing naked shorting in this security, it makes it even easier to drive the value of the stock down to force the sale of the physical gold anytime they want. What a wonderful world. Jeff <<

I think LT this will be a non-issue. When you examine all of the factors driving gold LT and the implications of higher cost imports LT, it makes it very likely even if all of the issues regarding the ETF are true, it'll be nothing more than a ST timing vehicle for the Commercials/PPT.