muses of the moment

November 16, 2009

GLD ETF warning

Filed under: Gold and Silver Investing, Precious metals — totallygroovygirlfriday @ 12:41 pm

Very interesting article by Rob Kirby on from Nov. 12th. Click here for the whole story.

GLD is not consistent in their gold bar numbers, yet the fund only expands, not contracts. Do not have all your gold holdings in this fund.

There could be many fake gold bars on the market. If true or not, very gold bullish. If true, could be hidden for a long while from the market. This seems only to apply to bars, not coins. “Fake” Kennedy US Bonds in Italy (twice!) and now this. Very interesting.

Side musing: Goldman Sachs’ largest current holding is GLD. I find this interesting considering their impact in driving up the stock markets this summer. Makes me wonder if they are holding long term or short term or trading daily?


  1. What if everything I ever told you was a lie? Could you function? maybe the sun won’t shine tommorrow, maybe Obambi will confiscate my coins, maybe I’ll get hit by a truck. I can’t worry about everything.

    Supposedly, SLV and GLD are both Ponzi scams. Maybe. What’s my alternative, buy coins at 10-30% markup and keep them in my safe? take delivery of 400oz bars at the COMEX? Ask for an audit? Get Real! I own the etf’s, I own CEF, I own the miners, I own coins, an di may open a GoldMoney account. Barring a halt in trading, I’ll book my profit before they are outed as the fraud the onspiracy site whack-jobs say they are.

    Comment by Sherman McCoy — November 18, 2009 @ 7:34 pm

  2. Sherman,

    You have done exactly what I always suggest, never have all your holdings in one place in one form. Sounds to me like you have a great allocation of investments. There is nothing wrong with holding all your investments in GLD and SLV as long as you know the risks and the lack of transparency involved. I seem to remember that in 2008, these were the issues that contributed to the derivatives market imploding and still threatens the market today. GLD and SLV are clearly derivatives of physical gold and silver by simple math. They are presented as sure as physical metals by the market, and the less-educated investor may get fooled and not understand the risks of this investment. Investor education is the purpose of this blog.

    Thank you for reading,

    Comment by totallygroovygirlfriday — November 19, 2009 @ 6:52 am

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