Mostly: Classical

[basserdan]

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.
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Hi IAC,
Have you no concerns about the lack of 'fine print' restrictions that would prevent the ETF from "leasing" out (on a short term basis) a sufficient amount of bullion to pressure the cash market into driving the entire PM complex lower whenever the banksters/COMEX commerials had their short positions in order?

Well, fwiw, I do........

I also dislike that GLD is still using the SEC's ongoing "quiet period" ruling as a means to keep from addressing the issues of their integrity that have come a cropping.


Bob Chapman's comment from this AM's essay underscores my concern far better than I could ever do.

"We find it unconscionable and criminal that none of the financial media will report that ETF’s (Exchange Traded Funds) in gold are derivatives and that they do not have to meet London Good Delivery status nor can the bullion’s presence in London vaults be verified by audit.

We have another Exchange Traded Fund, ETF, the iShares Comex Gold Trust. It is listed on AMEX with the symbol IAU. The Bank of NY is trustee and it is not an investment company registered under the Investment Company Act of 1940. It is a commodity pool. Bank of NY was at the core of a massive Russian money-laundering scheme and no one went to jail. We would not touch this with a barge pole."

http://news.goldseek.com/InternationalForecaster/1102608082.php