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What Happens If GLD Doesn't Have The Physical Gold To Back Its Investment Funds???

Reggie Middleton's picture
Submitted by Reggie Middleton on 02/27/2012 10:49 -0400



 

 

This is the final installment of my interview with the CEO of GBI: Gold Bullion International, a Wall Street firm that facilitates trading in actual physical gold for retail and institutional investors directly through their brokerage account. This segment covers:

  • the ownership structure of GBI, 
  • a direct comparison of direct ownership versus the GLD ETF, 
  • a clarification of counterparty risk,
  • what happens if GLD et. al. are found out not to have the physical gold backing their fund that many parties anticipate, 
  • and the ability of GLD and related ETFs to actually print thier own money..

If you have not seen the first four parts of this interview and the supplementary information (ex. the Sprott Physical Gold Trust comparison), I invite you to peruse them now...

  1. Trading Physical Gold As Easily As You Trade Stocks: Is Gold Becoming A Tradable Currency After All?
  2. Trading Physical Gold vs Investing In A Physical Gold Trust: Which Is Better?
  3. Reggie Middleton Interviews GBI: Gold Bullion International part 3 of 5
  4. Trading Physical Gold: Is Gold In A Bubble?
 
 
»

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Mon, 02/27/2012 - 14:14 | 2201012 oddjob
oddjob's picture

Only a fucking moron would buy a security that uses Arthur Levitt as an advisor. Do yourself a favour and spend at least 1 minute researching the company you endorse.

Mon, 02/27/2012 - 16:56 | 2201552 Think for yourself
Think for yourself's picture

I stand by my comment. The faces to feces comment was rude, juvenile, and irrelevant. Clearly, nobody saw the connection that you were trying to make. I did not endorse anybody; as I often do, I was only commenting on the topics surrounding the topic or metatopics regarding the discussion thereof.

In this case I was making a criticism of the type of rhetoric you were using to make a point, which was clearly disfunctional since nobody actually noticed that you had a point to make.

So you despise Arthur Levitt. At least now you clearly stated your premise. I'm not an economist nor a trader, and there was no way for me to catch your hidden allusion to him. I did not red arrow you so the other red arrows mean I was not alone. Yet you clearly had a point; Levitt, former SEC chairman, Goldman Sachs advisor, now connected to Carlyle Group. Don't know much about him but it's still enough for me not to trust him with a steaming pile of shit. Would you care to elaborate? 

Mon, 02/27/2012 - 20:18 | 2202175 oddjob
oddjob's picture

Clearly if the man had done his job the light would have exposed Madoff. So, is he just stupid or complicit?..and no matter what the answer it can't be good for any small investor. Where's the outrage for the tens of thousands of enablers?

Mon, 02/27/2012 - 11:41 | 2200511 Cognitive Dissonance
Cognitive Dissonance's picture

Your link directs us to part 4 of 5. We need a working link to part 5 of 5. The video in parts 1 thru 4 all work properly. It is part 5 that has a problem.

I think Reggie needs to turn off the "Private" video setting when he posts the video to YouTube.

Mon, 02/27/2012 - 13:09 | 2200668 Pinto Currency
Pinto Currency's picture

 

 

The word "If" in the title of this article is really confusing. 

 

The word "If" should be followed by "GLD Custodian HSBC Actually Has Some of GLD's Gold"

Do NOT follow this link or you will be banned from the site!