tag:blogger.com,1999:blog-14963913.post1199396221699681534..comments2023-10-27T20:27:57.900-04:00Comments on Kid Dynamite's World: The Wall Street Journal is WrongKid Dynamitehttp://www.blogger.com/profile/17475987512856310577noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-14963913.post-14657187401743816372009-11-05T21:31:37.051-05:002009-11-05T21:31:37.051-05:00I agree the idea that GLD is a Scam ;
if there is ...I agree the idea that GLD is a Scam ;<br />if there is no fixed number of GLD shares then anybody can create a share by selling a non existing GLD share then buy the actual gold bullion and give back to the trust and get back their actual GLD shares. The trust works like a manipulation room.<br />To stop SCAM simply the total number of GLD shares and corresponding actual total Tons of gold should be fixed.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14963913.post-88044748455362047012009-03-02T23:13:00.000-05:002009-03-02T23:13:00.000-05:00YOUR PUMP/EXPLANATION DOES NOT ADDRESS THE ISSUE T...YOUR PUMP/EXPLANATION DOES NOT ADDRESS THE ISSUE THAT GLD is A TOOL OF GOLD MANIPULATION AND WAY TO CONTROL THE REAL VALUE OF GOLD.<BR/><BR/>IT IS AN SCAM.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14963913.post-58524685765222495482009-02-25T12:31:00.000-05:002009-02-25T12:31:00.000-05:00oh, by the way, i just went back and looked at the...oh, by the way, i just went back and looked at the ETF data again - from Jan 12, 2009 to Feb 13, 2009 the assets in the trust increased by nearly TWO HUNDRED tons, not 45 tons. (787 tons --> 985 tons)Kid Dynamitehttps://www.blogger.com/profile/17475987512856310577noreply@blogger.comtag:blogger.com,1999:blog-14963913.post-68565409649661968402009-02-25T12:20:00.000-05:002009-02-25T12:20:00.000-05:00Thanks for that comment, Mark, it's a point i want...Thanks for that comment, Mark, it's a point i wanted to address, as I read the article you quoted it from.<BR/><BR/>The point is that the article again completely misunderstands: the Gold ETF DID NOT GO OUT AND BUY 45 TONS OF GOLD! that's exactly my point. <BR/><BR/>My guess is that gold dealers delivered gold into the trust to create shares to cover GLD shorts they had established thru arb (when they could buy bullion cheaper than GLD was trading).<BR/><BR/>the GLD has a great website with all sorts of data - i downloaded their spreadsheet last night to confirm that they never had a point where the amount of gold in the trust gapped up overnight - and the data confirmed this.<BR/><BR/>The prospectus claims that the trust owns only gold bullion - physyical gold - not futures or derivs. I believe them.Kid Dynamitehttps://www.blogger.com/profile/17475987512856310577noreply@blogger.comtag:blogger.com,1999:blog-14963913.post-37106283970617059322009-02-25T10:18:00.000-05:002009-02-25T10:18:00.000-05:00From where did all the gold claimed to be owned by...From where did all the gold claimed to be owned by all the gold ETFs come from? Where did funds such as GLD get their additional 45 tons in the last month? We certainly can forget about that gold coming from the Comex. 12 deliveries would stand out like a sore thumb. This concept and record keeping eliminates all exchanges around the globe as the source of bullion delivery in any size to all Gold ETFs. The physical market is so tight that coin minting has all but closed down compared to what it was one year ago. It is hard to accept that the Gold EFTs can buy what the mints can’t.<BR/>That probability is that the claimed gold can only be OTC derivative long positions. If that is so then the financial reliability of the paper stands on the foundation of the balance sheet of the granting counter party to the OTC derivative. This is true regardless of whether it is a mine or naked speculator.<BR/>I think you own an ETF of derivatives, not of gold!<BR/><BR/>http://jsmineset.com/index.php/2009/02/12/where-do-all-the-gold-etfs-get-their-bullion-from<BR/><BR/>Mark<BR/><A HREF="http://www.dgcmagazine.com" REL="nofollow">DGCmagazine.com</A>Mark Herpelhttps://www.blogger.com/profile/16570867131790072001noreply@blogger.comtag:blogger.com,1999:blog-14963913.post-18651757526018749182009-02-24T20:07:00.000-05:002009-02-24T20:07:00.000-05:00You're far too kind.The article's not just wrong, ...You're far too kind.<BR/><BR/>The article's not just wrong, its fundamentally stupid.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14963913.post-86044866780593035182009-02-24T18:12:00.000-05:002009-02-24T18:12:00.000-05:00To me, trying to understand anything related to fi...To me, trying to understand anything related to financial markets is literally like listening to two Mexicans speak their native tongue. Every so often I understand some tiny, inconsequential component of the overall discussion, but absolutely nothing else gets absorbed. <BR/><BR/>One of these days, over a couple beers, I'm going to have you give me the Wall Street For Retarded Grade Schoolers explanation so that maybe I can finally follow along with the rest of the adults.<BR/><BR/>I'm an idiot.<BR/><BR/>For me it's like that person you can never recall the name of no matter how many times someone tells you it. Two seconds later it's gone again. I go, "Ok, a guy buys stock in a company. Alright. He has stock now. Ok, so...FUCK! Who has what now?"The Bracelethttps://www.blogger.com/profile/04609637071739374804noreply@blogger.com