Why is there a clause in the GLD prospectus that states GLD has no right to audit subcustodial gold holdings? Why would the organizations behind GLD forfeit this right and create this glaring audit loophole? I haven't heard of a single good reason for the existence of this loophole so far. In addition to the audit loophole, GLD claims to be fully backed by physical gold bullion but yet it refuses to give retail investors the right to redeem for any of these ‘claimed’ gold bullion.
CNBC's Bob Pisani also made a highly publicized visit to GLD's gold vault in a segment called Gold Rush: The Mother Lode. GLD's administration organized this visit to show that GLD's gold actually exists. However, the gold bar held up by Mr. Pisani showed a serial number of ZJ6752 which did not show up on the latest bar list during that time. It was later found that this "GLD" bar actually belonged to ETF Securities.
Even on the subject of GLD's insurance, they are not at all straightforward about it. Their representatives will not confirm nor deny the existence of GLD's insurance. I recommend anyone curious about this to confirm via calling GLD's publicly listed number for general inquiries at 866 320 4053 and ask about this clause from the GLD prospectus: "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." Exactly how much of the fund is insured? They will not give you a straight answer and might even throw in some bizarre excuse which I've experienced. Why hide this information from investors? The people behind GLD do not seem like the most honest types.
22% of all dollars in the M2 money supply were created since Covid/Wuhan virus started. Another stimulus package is about to be unleashed, and this number will go well over 30%. This is the most inflationary time in the history of humankind on a global basis as well as in the U.S.
$EGO ELDORADO GOLD trading at $11.xx has over 31K Open Interest in options on 3.1 million shares at $14 strike expiring next Friday Oct 16 on imminent positive production and expansion news. Try to find another miner with even 2K open interest in Oct 16 options at any strike.
Value of all gold mined worldwide over all of human history: $12 trillion Value of fiat currencies doled out by governments in 2020 as economic response to covid-19: $12 trillion ++
$GOLD $AUY $NEM $GLD $WPM $RGLD
M
Gold is the most manipulated and hated by the controlling powers of capital led by the Government and their ilk, incl JP Morgan and the others keeping the price down because they can do it with so much computer digits they've created and the control of it they yield... this does have a giant effect on the physical that comes to market whether buying or selling, and the psychology of defeating those who believe Gold to have such intrinsic value in shorter to medium term in particular. Bottom Line,,, The CRIMINALS are in Control.
The entire gold mining sector is grossly undervalued now that gold has stabilized above $1,925. Margins have exploded and the payment of dividends in a negative real rate of return on Treasuries will drive investors in. I'm in KCG, KL and Yamana with Yamana being the company that I see as most undervalued. Watching the Pebble mine progress (or lack thereof) will continue to be of interest. Additionally I would get every dollar out of GLD and put it into physical bullion or mining companies because of all the loopholes in its prospectus...
#KGC #KL #AUY #GLD
G
Get OUT of this worthless GLD paper trash and buy physical Gold before its to late ...
Will Nov elections be good for gold? Would a general market correction before election drag gold down or boost it? What will gold do under Pres Biden - if he wins? Come on folks; help me out with answers
W
In the past two months, the price of gold has dropped from $2077 to $1877 an ounce -the low in premarket today, That's a 10% correction during a time when arguably gold is experiencing its strongest fundamentals in modern history. Backdrop: record deficit Gov spending and debt; record FED and Gov stimulus - more stimulus and bailouts coming, covid-19 not going away; US election mess this Nov; Iran's mischievous and threating actions; pending China trade war; rampant unemployment; destruction of US small businesses; massive real-estate foreclosures on the horizon; and more. Lots of reason for gold to be going up. Reason for gold dropping: market manipulation; however, every time gold is manipulated, it always ROARS back
D
FED and JPM at the ready to trip the Gold Waterfall decline.
e
The reason gold is not 5k an ounce is bitcoin. If and when bitcoin goes away gold will go to 5k or simply replace the price of bitcoin currently at 12k easily.
r
I am really glad that I found (http://stocktip.xyz)- they just sent an alrt that is up like 77% in a week. Good stuff!
N
"Former Deutsche Bank Traders to Stand Trial in Test of Spoofing Crackdown"
By Dave Michaels September 11, 2020
A government crackdown on traders accused of price manipulation faces one of its biggest tests next week, as a pair of former Deutsche Bank traders face trial on charges related to rigging precious-metals prices using a strategy known as spoofing.
Traders at Citadel Securities and Quantlab Financial, high-speed trading firms that use models to automate their buying and selling, are among the witnesses scheduled to testify against the ex-traders, James Vorley and Cedric Chanu. The criminal trial will take place in Chicago with protocols aimed at reducing the risk of coronavirus spread, including the use of masks and a requirement to maintain social distancing.
The Justice Department has lost two of three prior trials over spoofing, a type of price manipulation that involves bluffing other traders into thinking supply or demand has changed.
Prosecutors have faced hurdles on their way to the latest trial, with the judge in the case expressing skepticism in recent weeks about whether evidence supports the claims of fraud.
On the heels of the brutal takedown in the metals markets, investors need to understand this simple truth about today's takedown in the gold and silver markets.
On the heels of the brutal takedown in the metals markets, investors need to understand this simple truth about today's takedown in the gold and silver markets.
CNBC's Bob Pisani also made a highly publicized visit to GLD's gold vault in a segment called Gold Rush: The Mother Lode. GLD's administration organized this visit to show that GLD's gold actually exists. However, the gold bar held up by Mr. Pisani showed a serial number of ZJ6752 which did not show up on the latest bar list during that time. It was later found that this "GLD" bar actually belonged to ETF Securities.
Even on the subject of GLD's insurance, they are not at all straightforward about it. Their representatives will not confirm nor deny the existence of GLD's insurance. I recommend anyone curious about this to confirm via calling GLD's publicly listed number for general inquiries at 866 320 4053 and ask about this clause from the GLD prospectus: "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." Exactly how much of the fund is insured? They will not give you a straight answer and might even throw in some bizarre excuse which I've experienced. Why hide this information from investors? The people behind GLD do not seem like the most honest types.
#AUY #NEM #EGO #KL #BRK-B #GLD $KGL
https://www.goldmoney.com/research/market-updates/an-inflection-point-beckons
Try to find another miner with even 2K open interest in Oct 16 options at any strike.
$NEM $AUY $IAG $KL $KGC $AEM $GFI $GDX $NUGT $GLD $SLV $SIL $AG $HL
stock up on some gold and fine art
invest in stocks outside the US
stay away from Bitcoin get rich quick scheme the hack and it needs power to survive
Value of fiat currencies doled out by governments in 2020 as economic response to covid-19: $12 trillion ++
$GOLD $AUY $NEM $GLD $WPM $RGLD
https://maalamalama.com/wordpress/bullion-banks-have-clawed-back-considerable-physical-gold-and-silver-losses-/07/10/skwealthacademy
Margins have exploded and the payment of dividends in a negative real rate of return on Treasuries will drive investors in. I'm in KCG, KL and Yamana with Yamana being the company that I see as most undervalued. Watching the Pebble mine progress (or lack thereof) will continue to be of interest. Additionally I would get every dollar out of GLD and put it into physical bullion or mining companies because of all the loopholes in its prospectus...
#KGC #KL #AUY #GLD
Revolving Door at the SPDR Gold Trust – 6 CFOs since 2014
https://www.bullionstar.com/blogs/ronan-manly/revolving-door-at-the-spdr-gold-trust-6-cfos-since-2014/
++++++++
By Dave Michaels September 11, 2020
A government crackdown on traders accused of price manipulation faces one of its biggest tests next week, as a pair of former Deutsche Bank traders face trial on charges related to rigging precious-metals prices using a strategy known as spoofing.
Traders at Citadel Securities and Quantlab Financial, high-speed trading firms that use models to automate their buying and selling, are among the witnesses scheduled to testify against the ex-traders, James Vorley and Cedric Chanu. The criminal trial will take place in Chicago with protocols aimed at reducing the risk of coronavirus spread, including the use of masks and a requirement to maintain social distancing.
The Justice Department has lost two of three prior trials over spoofing, a type of price manipulation that involves bluffing other traders into thinking supply or demand has changed.
Prosecutors have faced hurdles on their way to the latest trial, with the judge in the case expressing skepticism in recent weeks about whether evidence supports the claims of fraud.
Investors Need To Understand This Simple Truth About Today’s Takedown In The Gold & Silver Markets
https://kingworldnews.com/investors-need-to-understand-this-simple-truth-about-todays-takedown-in-the-gold-silver-markets/
https://www.sprottmoney.com/blog/COMEX-Delivery-Update-Craig-Hemke-September-15-2020