54 Billion dollars worth of gold are held by the SPDR (pic), much more than most Central Banks. SPDR sells Gold Shares representing fractional, undivided beneficial ownership interests in the Trust, the sole assets of which are gold bullion, and, from time to time, cash. Who are these people? What are they doing with the gold? I know, they are not the "owners" of the gold, but if the worse come to worst, how do you take possession of "your" gold? The next question is "What will they do in case of a world financial crash?" What is the significance of the mere existence of this monstruous gold hoard?
2 comments:
Don't buy GLD, but gold. GLD has widely been described as potentially fraudulent.
It is nice to see that I am not paranoid. Or that am not the only paranoid. GLD looks problematic to me.
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