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GLD Accounts For More Than Half Of All Positive ETF Inflows In May
In May, US listed ETFs were down 5.7%, or $47.3 billion, to $788.5 billion. The decline was less than the general US market performance of 8.2% due to $7.9 billion in net inflows across ETFs, even as market values declined. Of various ETF asset classes, not surprisingly, commodities performed the best, seeing the bulk of the inflows, or $5.1 billion, bringing total commodity assets to $74.6 billion. Drilling down even further, the one single ETF that represented more than half of the positive inflow was the SPDR Gold ETF, GLD, which saw $4.2 billion in May inflows, bringing total assets to $49.2 billion. The exodus from paper to real assets continues, and a very confused Ben Bernanke is powerless to stop it.
h/t Stephen
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if this money was going to physical gold instead of that fraud GLD, gold would be closer to 1500 by now
there would be no offer below 5k
Tyler,
Obama will Nationalize the ETF's soon enough.
That's why ETF's are fuc*&%...........
To quote Olivia Newton John,
"Let's get Physical".
watch GFS and JPFM push gold lower as the inflows get even larger
just as their bot pushes stocks higher as the economy eats shit and dies
+++++
And in other news Spain collapses! against Swiss in teh World Cup competition that is but off course this is a prelude to the real economic collapse of Spain, as billions of Euro flow to ironically Swiss banks...
sure smells like a short term top in gld to me
word....time to sell.
I'm playing the JPM contrary trade right now (they went semi-bullish a week ago). Betting against GLD assuming the next important low lies in the 90's in the next 3-6 months. If it works, I'll have more cash with which to buy some shiny stuff cheap.
Deflation before inflation, then kaboom!
Nothing but paper promises. Unplug yourself from the matrix. Buy physical. Are you going to take the red pill or the blue one?
Come on Ben, where are Spain and Portugal show? Which one you want to keep bond/dollar/house or euro/stock/gold? Tough to make decision or the job getting tougher?
i am starting my own etf too. why not.
mine will ipo at $12/share. it is called the "hot babes at your beck and call" etf. the symbol is: SEX
of course you do not own any of these babes, and you don't really have direct access to them either. only i know how many babes are actually in holding. but you can trust me - they are there. so please just send your deposits to me and you can make believe you got babes.
after awhile, when you realize there aren't any actual babes for you to, well, "physically handle," you can just sell your shares to the next sucker in line.
that is the business model, right?
and btw, if any customers actually demand their babes - they will probably wish they hadn't...
Brutus in a thong... 'bout sums up GLD.
lessee... brutus in a thong... GLD doesn't have the goods it claims to...
is this to insinuate that my thong is not hiding much of a package??
i am humiliated. either my id, ego, or superego has been dealt a great blow.
i will have to consult Cognitive Dissonance to find out which one exactly.
Big package is still bait & switch. Now step away from the mirror...
ROTFLMAO
Then there's this reaction:
http://www.thanhniennews.com/2010/Pages/20100610231018.aspx
I just don't understand it. I went and bought the last 400 years of gold production in the form of the GLD ETF and the price of Gold remained the same. What the heck kind of market is that? /sarcasm off/
exactly
3
That is like 100 tonnes of gold. No way did this ETF take 100 tonnes of gold out of circulation in one month and have no effect on market prices.
good fucking question
4
actually closer to 140 tons. Don't worry, they ordered it, it's in the mail.
I hate GLD. It's just another avenue for government can manipulate things.
No
Fucking
Shit
3
looks to me like Turd just pitched a no-shitter.
like it
Except this isn't an example of it. Paper to paper, ashes to ashes, dust to dust.
To get a feel for the size and scope of the manipulation/mope/spin/sham that our markets are, one needs to look no further than GLD. If there was truly a free and open market with a free and open financial press, the hoax-ponzi that is GLD would have been exposed nearly as soon as it opened for business in 2005.
Anyone who owns and holds GLD is part of the problem. The fools that own GLD are buying it because the think they own physical. They are looking for price appreciation. They are unwittingly participating in price suppression by owning GLD. Fools!
Please tell anyone who will listen that the non-physical ETFs are a complete sham and must be avoided at all costs.
"You can't eat gold!"
You can't eat paper either but you can wipe your ass with it!
;)
Try wood chips..