This page has been archived and commenting is disabled.

Some Observations On Bob Pisani's Visit To GLD's Vault

Tyler Durden's picture




 

Earlier today, we were delighted to see that after years of ridicule and provocations, the SPDR GLD ETF finally cracked and decided to do a wholesale PR campaign to comfort the investing public it actually does own its gold, by inviting none other than Bob Pisani in its secret warehouse which allegedly contains 40 million ounces of gold, of which HSBC is custodian and the Bank of England (the same Bank of England which will soon be about 99 tons lighter in gold content once it satisfies Hugo Chavez' physical delivery request) and London Bullion Market Association (“LBMA”) are subcustodians. While the 4 minute PR campaign is enjoyable and we invite readers to watch it, what is amusing is that it is sure to set off another set of conspiracy theories. Here's the reason: amusingly the very gold bar that Pisani demonstrates so eagerly for the camera, Rand Refineries ZJ6752, is somehow, at last check, missing from the full barlist as posted daily by the GLD.Whose is it? Where did it go? When was this clip shot? Inquiring minds want to know...

As the table below shows, the full list of ZJ serial numbers goes from 6700 to 6734 (go ahead, do your own search - link here). 

ZJ6700 RAND REFINERY 404.775 402.994 9956
ZJ6701 RAND REFINERY 407 405.209 9956
ZJ6702 RAND REFINERY 405.325 403.541 9956
ZJ6703 RAND REFINERY 404.6 402.86 9957
ZJ6704 RAND REFINERY 404.825 403.084 9957
ZJ6705 RAND REFINERY 401.775 400.047 9957
ZJ6706 RAND REFINERY 406.5 404.752 9957
ZJ6707 RAND REFINERY 402.2 400.47 9957
ZJ6712 RAND REFINERY 403.55 401.814 9957
ZJ6713 RAND REFINERY 405.65 403.905 9957
ZJ6714 RAND REFINERY 403.35 401.615 9957
ZJ6715 RAND REFINERY 403.525 401.789 9957
ZJ6716 RAND REFINERY 403.4 401.665 9957
ZJ6717 RAND REFINERY 405.625 403.88 9957
ZJ6721 RAND REFINERY 405.225 404.779 9989
ZJ6723 RAND REFINERY 407 406.552 9989
ZJ6726 RAND REFINERY 407.7 407.251 9989
ZJ6727 RAND REFINERY 404.075 403.63 9989
ZJ6732 RAND REFINERY 407.45 407.001 9989
ZJ6734 RAND REFINERY 404.275 403.83 9989

... and ends there.

but this is where the conspiracy starts. Today is September 1. We assume Pisani shot the segment some time in the past week: between August 23 and August 30. Over this period the actual GLD tonnage as disclosed by GLD remained flat (fluctuated by +/- 1.51 tonnes from 1232.31 to 1230.8), so it is unlikely that any gold bars, and especially the one demonstrated by Pisani actually left the warehouse.  

Of course, Pisani may have well shot the documentary some three weeks ago, when gold peaked at 1310 tons, although we assume he would have then said 1300 tons held by the warehouse, not 1200 as he did. If that is the case, there is a small chance based purely on statistics that ZJ6752 was promptly moved out of the warehouse upon a redemption event. The chance is about 1 in 10k or so, but still...

So, as a follow up, we would kindly ask Mr Pisani to answer: when did he shoot the documentary? Does he know the fate of the bar he was holding? Did he take it with him? Is the bar currently on its way to Chavez? Or worse yet, did GLD actually lease it to someone?

And so on... And so on...

Unfortunately, Bob, as you will soon learn first hand, when it comes to such things as secret bank vaults containing the world's only remaining hard currency, which can only be seen by reporters with clearance after being driven with a blindfold through the streets of London, who have to relinquish their cell phones and "GPS devices" to confirm their existence, it, unfortunately, does not build much credibility, and it is inevitable that conspiracy theories will and do start. And unfortunately, any PR campaign always tends to backfire.

Our advice: please tell your client HSBC to open up its vault to general observation and assay: at that point, we are confident all conspiracies will end.

Until then, be prepared to be retained by HSBC on a frequent basis as more and more ask themselves: what is really in that vault?

h/t Ponzi Finance

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 09/01/2011 - 01:21 | 1621777 Id fight Gandhi
Id fight Gandhi's picture

That vault or storage room wasn't what I expected. It was almost like a regular stock room.

In simple terms how does this paper gold thing work. Gold is a certain spot price, the gld is reflective of this. People buy shares... So do they use contracts as new money enters and then take delivery, place it in the vault.

What happens when gld is sold, the price dips and funds flow out of the fund?

Thu, 09/01/2011 - 01:36 | 1621825 tickhound
tickhound's picture

*crickets*

Thu, 09/01/2011 - 02:07 | 1621859 redpill
redpill's picture

Obviously no relation to the author, but need I point out the irony of it being "Rand" Refinery?

Since it is from Africa, does this make it blood gold? lol

Thu, 09/01/2011 - 03:38 | 1621955 AnAnonymous
AnAnonymous's picture

US citizens sub set code named as gold bugs do not care about this kind of details.

As US citizens, they do not acknowledge property rights. Blood is smeared with blood from people who tried to steal their gold. US citizens gold bugs already own all the world gold by god given right.

Thu, 09/01/2011 - 05:02 | 1622005 spiral_eyes
Thu, 09/01/2011 - 05:43 | 1622019 Snidley Whipsnae
Snidley Whipsnae's picture

GATA's latest comments regarding GLD...

http://www.gata.org/node/10366

Not complimentary.

Thu, 09/01/2011 - 08:09 | 1622178 GetZeeGold
GetZeeGold's picture

 

Not taking questions bitchez.

 

Thu, 09/01/2011 - 05:39 | 1622015 Bicycle Repairman
Bicycle Repairman's picture

You assume that there is a great deal of homogenity amongst the American people and their thinking.  Don't you know that our greatest strength is our diversity?

Thu, 09/01/2011 - 09:27 | 1622364 AnAnonymous
AnAnonymous's picture

US citizens are monolithic in terms of culture and philosophy. The US is alien to diversity.

US citizens society is articulated around monetization of conflicts (among other things) and can not do without it.

Diversity in the US is just propaganda. Manufactured perception to engineer conflicts to monetize.

If the following happens: a population with certain members having one single negro ancestor from 10th generation backwards, US citizens would still claim they are diverse.

US citizenism conveys unity by homogenization and conformization (standardization)

Their call for diversity is just cheap propaganda to try to hide the very fact the US is a very efficient diversity killer. Huge human beings selection project, that is, that US citizenism.

Thu, 09/01/2011 - 09:59 | 1622437 MachoMan
MachoMan's picture

This guy has mako like fanaticism towards a single topic...  the difference between the two being this guy is patently incorrect.

Thu, 09/01/2011 - 10:11 | 1622470 trav7777
trav7777's picture

gold, like a diamond, is also best polished by the blood of a bleck men

Thu, 09/01/2011 - 02:14 | 1621866 Libertarians fo...
Libertarians for Prosperity's picture

 

 

So hilarious to see Bob Pisani do a segment about gold and the growing demand for gold exposure.

"It looks like gold is crossing over $300 this week, but trust me folks, gold is going nowhere."  -   Bob Pisani, CNBC February 2000

Thu, 09/01/2011 - 03:46 | 1621964 disfiguredskating
disfiguredskating's picture

It is the old switcheroo!  I've seen that somewhere before...

http://www.youtube.com/watch?v=JFDk4CGFXvw&feature=colike

Right when they weren't lookin.  haha

Thu, 09/01/2011 - 03:48 | 1621965 disfiguredskating
Thu, 09/01/2011 - 13:01 | 1622998 A Nanny Moose
A Nanny Moose's picture

The first one was still pretty damned funny. A metaphor for divide and conquer, perhaps.

Fri, 09/02/2011 - 01:25 | 1625260 disfiguredskating
disfiguredskating's picture

Thanks.  I like that one the best, but the pinata is more applicable.

Thu, 09/01/2011 - 07:59 | 1622159 I think I need ...
I think I need to buy a gun's picture

i watch cnbc all day everyday while working...never have i ever seen pisani talk about gold before and he usually makes up some bullshit reason for market movements on a daily basis

this piece by zhedge is priceless

Thu, 09/01/2011 - 04:29 | 1621992 LongBalls
LongBalls's picture

Some dumbass just pushed unemployment up.

Thu, 09/01/2011 - 06:48 | 1622076 beastie
beastie's picture

Full searchable database of Silver and Gold bars here

http://screwtapefiles.blogspot.com/

Thu, 09/01/2011 - 09:18 | 1622344 bernorange
bernorange's picture

I got a screen capture from the video showing some bars with numbers:

http://i56.tinypic.com/2i7a87d.png

Thu, 09/01/2011 - 11:58 | 1622839 beastie
beastie's picture

The bar has been found but not in the GLD vault.

http://screwtapefiles.blogspot.com/2011/09/zero-hedge-zj6752.html?showCo...

Thu, 09/01/2011 - 22:36 | 1624778 Anonymouse
Anonymouse's picture

And that fund (MSL) does use HSBC as custodian.

Fri, 09/02/2011 - 11:39 | 1626688 Bay of Pigs
Bay of Pigs's picture

Funny to see Kid Dynamite over there posting congrats on the good find.

He is something else...

Thu, 09/01/2011 - 09:12 | 1622325 russki standart
russki standart's picture

GLD is not a substitute for physical gold; it is simply another variant of paper gold.  GLD, for example, reserves the right to redeem your shares not in gold, but in currency. Also, we will never know to what degree each bar is encumbered by third party claims.  I use GLD for trading purposes, only.

Thu, 09/01/2011 - 10:10 | 1622462 trav7777
trav7777's picture

I find it inconceivable that ANYONE associated with the securities industry would be honest enough nor possess sufficient integrity to not cheat when you have this massive pile of assets just SITTING THERE and not making any money.

Throughout the middle ages, goldsmiths issued paper for gold they didn't have; why the hell wouldn't these guys?  If the CEO needs a bigger bonus, he would order all the execs down the line to find a way to make the profit numbers and that could include leasing out all this useless metal because gold is going to crash soon, everyone says so.

Thu, 09/01/2011 - 11:31 | 1622779 CrazyCooter
CrazyCooter's picture

Hah, exactly what I was thinking. As soon as he started the intro for the executive, I thought to myself, "Oh man, everything this guy says is going to be a lie." What did he say?

  • The quality of the bars is assured (talks about good bar delivery list)
  • The auditor has the right (talks about auditing process)
  • "That would be complete illegal. At no time is there a risk to the trust" (response to an unknown question - haha - pin that one on him)

So, in my mind, this reinforces that (1) quality is an issue, (2) quantity is an issue, (3) they are doing illegal shit, and (4) the trust is at risk.

Oh, and if 1 ton has ~32000/oz, then 40 million ounces is 1200 tons. Hugo wants his ~100 tons in physical back. Its just 10% for a country with ~30 million people.

Plenty to go around folks, plenty to go around.

Ha hahahahah.

Regards,

Cooter

Thu, 09/01/2011 - 01:11 | 1621779 zorba THE GREEK
zorba THE GREEK's picture

One small step for gold, one giant leap for tungsten. 

Thu, 09/01/2011 - 01:22 | 1621796 DaBernank
DaBernank's picture

Man, I thought tungsten would get a mention in the 1st post. Try harder next time!

Thu, 09/01/2011 - 02:12 | 1621865 spiral_eyes
spiral_eyes's picture

Anyone buying GLD must be smoking some serious shit.

Thu, 09/01/2011 - 03:39 | 1621957 Captain Planet
Captain Planet's picture

Smoking the hopium....

Not the grasses of knowledge.

Thu, 09/01/2011 - 09:37 | 1622387 Long-John-Silver
Long-John-Silver's picture

And there you have it. That bar in the video is Gold pressed tungsten.

Thu, 09/01/2011 - 21:08 | 1624508 Hearst
Hearst's picture

Gold bars?  Yeah we know they're around somewhere.  But when do we get the special on SLV?  I'd love to see the 313 MILLION ounces of physical allegedly held.

Thu, 09/01/2011 - 01:14 | 1621786 DoChenRollingBearing
DoChenRollingBearing's picture

Whoops, whoops, whoops if true!

Thu, 09/01/2011 - 01:16 | 1621788 godzila
godzila's picture

Ideed that would be a blunder of epic proportions !

Thu, 09/01/2011 - 01:17 | 1621790 catch edge ghost
catch edge ghost's picture

I would like to watch Bob weep.

Thu, 09/01/2011 - 01:18 | 1621791 HUGE_Gamma
HUGE_Gamma's picture

when i saw this live on TV my first reaction was to write down the serial number and check if it was on the barlist!

Thu, 09/01/2011 - 01:18 | 1621792 Conrad Murray
Conrad Murray's picture

PissAnt was too busy getting his complimentary ZJ at the stooge bar to take time to do due diligence on the ZJ bar.

Thu, 09/01/2011 - 01:21 | 1621795 kito
kito's picture

tyler, when is that invitation coming from fort knox!?!?

Thu, 09/01/2011 - 06:02 | 1622031 thunderchief
thunderchief's picture

Possesion is 90% of ownership, and most gold in the USA is held at Fort Knox and West Point.  The military has all the gold.  That is why I put a permanent buy reccomendation on gold.

Thu, 09/01/2011 - 01:23 | 1621797 GoldmanSux
GoldmanSux's picture

In this case, the phrase "It's a victory for the bulls" is appropriate.

Thu, 09/01/2011 - 01:25 | 1621800 TruthInSunshine
TruthInSunshine's picture

Piss-ant-i stuck that gold bar down his pants and acted all sly, as he quietly demurred further comments, once the segment was filmed, and he's stroking it now, every night in his bed, before he closes his eyes and dreams of fields of gold.

Thu, 09/01/2011 - 01:26 | 1621803 Myzery
Myzery's picture

Review the  bar list again. ZJ6752 is there on page 8

 

ZH6752 RAND REFINERY 406.325 405.39 9977

 

edit: oh wait thats ZH

 

 

Thu, 09/01/2011 - 03:10 | 1621939 janus
janus's picture

Myzery,

bitch, go find the cutest pair of pink panties in your closet and sinch em up nice and tight

mary, your ass belongs to janus...and i ain't gonna stop until i'm good and ready.

i just went through every single page (1700 plus) on that list; and i checked EVERY single bar, bitch.  'why?', your weak wittle mind may be wondern, would someone go to all the trouble?  TD does not make mistakes like that.  I ran down everything even slightly dubious for four months before joining this place.  sure, he makes a few careless errors; but that would have been a lazy error -- and i would have said something myself.  but, unlike you, i'd have been more careful.

do not ever come back again. 

i fucking dare you to talk back to me, bitch, i'm holdin back now.  take my mercy and leave; or stay and gird thyself.  ask anybody, i ain't no nice guy -- look what i do to friends.  and the difference is, i don't like you.

i will crush you,

janus

Thu, 09/01/2011 - 03:28 | 1621948 LasVegasDave
LasVegasDave's picture

Hey Janus, fuck off.

No one wants to see you thumping your chest b/c some blog poster made a mistake and you caught 'em.

You're so fuckin' smart, aint ya

Thu, 09/01/2011 - 04:04 | 1621966 janus
janus's picture

i am.

an ass.

and am

contrite.

Thu, 09/01/2011 - 17:51 | 1623900 PaperBugsBurn
PaperBugsBurn's picture

janus,  you?e a real freaking idiot but funny as hell (not in a good way towards you though)

Thu, 09/01/2011 - 03:42 | 1621960 Captain Planet
Captain Planet's picture

junked for being agro....german slang for an aggressive dipshit!

Thu, 09/01/2011 - 04:03 | 1621968 janus
janus's picture

 

 

Thu, 09/01/2011 - 04:18 | 1621981 janus
janus's picture

since nobody can do it like janus...here goes:

janus,

i've been watchin you, and, son, you've got an itchy trigger finger; but i wouldn't waste my time with you if that was your one, lonely flaw -- hell, you're the fuckin swiss cheese of ZH posters.  you don't have a fuckin clue what you're talkin about; pretending you can hang aroung with pros and steal their trade secrets...you're a simple-minded rube from the sticks in ala-fuckin-bama who don't know an spx from a vix, which is why you'll likely end all this with your sorry dick in the dirt. 

you strut around here like you've got something meaningful to say, and, well, honestly, you're your biggest fan -- which ain't really sayin much.  another thing, you seem to have a wicked-bad case of vertigo -- you think you're all the way up, and, really, you're somewhere off to the side of some reference point no one is ever gonna map.  yep, it's lonely out in space -- enjoy that echo chamber, redneck!!!

love,

janus

hope that help a lil, mysery (i mean every word).

again, sincerely,

janus

Thu, 09/01/2011 - 03:59 | 1621974 janus
janus's picture

oh my goodness, Mysery.

 

please, please, please accept my apology.

i misread your post.

i thought you were saying that ZH wouldn't edit because they make so many mistakes...i am so sorry.  i see now that you were saying the serial designation starts with ZH.

i'll delete all that i can.

sincerely,

janus

Thu, 09/01/2011 - 05:47 | 1622024 Pay Day Today
Pay Day Today's picture

You are the owner of a mighty hair-trigger set of fight club trained nerves. Good and bad, like all things in life.

Thu, 09/01/2011 - 01:27 | 1621804 Myzery
Myzery's picture

Does anyone have a historcial bar list? 

 

Looks like HSBC doesn't publish archived bar lists.

Thu, 09/01/2011 - 04:06 | 1621944 janus
janus's picture

no, but i can tell you your future. 

when janus makes a mistake this big, he knows there's a price to pay.  hopefully i can make it up to you, mysery.

Thu, 09/01/2011 - 01:27 | 1621805 sleepingbeauty
sleepingbeauty's picture

Which days was Pisani in London?? I am not a regular watcher so, I don't know if he is based there. If he isn't it should be reasonable enough to find out when he was there?

 

Thu, 09/01/2011 - 01:39 | 1621830 Id fight Gandhi
Id fight Gandhi's picture

I don't watch either. A regular viewer who can cross check his appearances on the floor on tv to cnbc or his tweets can bring a range of probable time of filming. He would have to miss a few days of work at least for that trip.

Either that or know someone who knows when he went.

Thu, 09/01/2011 - 03:28 | 1621852 Conrad Murray
Conrad Murray's picture

He was on vacation May 31, 2011 - http://www.cnbc.com/id/43224660
No further writings until his return date where he says he was in London the week prior to June 13, 2011 - http://www.cnbc.com/id/43381714
So, 1 week in London, 1 week in South Africa perhaps?
Update:
Found this link that says he would be gone until July 27, 2011. It was posted on July 15, 2011. Another possible timeframe for the taping. - http://classic.cnbc.com/id/43768263
Scratch that. 10 days in Turkey - http://classic.cnbc.com/id/43911246

Unfortunately, the only cached bar list I've found so far is from July 15th, 2011(the bar wasn't there) - http://wayback.archive.org/web/*/http://www.spdrgoldshares.com/assets/dy...

Observations from the clip in the main post:
Frame at 1:31, 12 bars showing numbers. 2 are on the most recent bar list(didn't check all others)

36431 METALOR TECHNOLOGIES HK
38431 METALOR TECHNOLOGIES HK

At 3:11 another bar is shown. At 3:13 bar is weighed, 394.024. 3 entries match in the Bar List

150694 JOHNSON MATTHEY BRAMPTON 395.25 394.024 9969
208517 AGR MATTHEY 395.25 394.024 9969
208471 AGR MATTHEY 395.25 394.024 9969

Any way to get an HD version of the clip? Only other clue I saw was Big Ben showed 12:00 and the sky was overcast(not much help for pegging a date by weather in London). Going to watch the Rand Refinery clip and see if there's more information to be had. http://www.cnbc.com/id/44328212

Update:
In the Rand Refinery clip, at 2:52, he states he was escorted out of the facility due to a chlorine gas emission. There may be an incident report filed with a safety agency somewhere online, but that's a very doubtful long shot.

Thu, 09/01/2011 - 05:45 | 1622020 ZippyBananaPants
ZippyBananaPants's picture

Conrad,
That is some superior detective work. Most of us thought you were in hiding.

Please bring Michael back!!

Thu, 09/01/2011 - 07:43 | 1622139 fredquimby
fredquimby's picture

Sherlock would tip his hat for sure.

Thu, 09/01/2011 - 10:53 | 1622650 Event Horizon
Thu, 09/01/2011 - 11:20 | 1622745 johansen
johansen's picture

It is not on that list either :)

Thu, 09/01/2011 - 01:28 | 1621807 LikeClockwork
LikeClockwork's picture

Annual audit? I'm tensely suspicious of next month, let alone next year.

Thu, 09/01/2011 - 01:30 | 1621809 Rastadamus
Rastadamus's picture

This fucking show Gold Rush is a fucking disaster. When they get everyone interested that Bull market will end.

Thu, 09/01/2011 - 01:30 | 1621811 Poor Grogman
Poor Grogman's picture

Same shit different day.

Sheeple's please give us your money

We will use it to buy a great stack of gold (but not tell you where it is)

And the sheeple gets to keep an electronic credit tick,or a piece of paper if they really insist.

C'mon guys think..

Haven't we seen this somewhere before???

Thu, 09/01/2011 - 01:31 | 1621812 True.North
True.North's picture

Wait 6 months, and you'll hear of some Ocean's 11 type heist where all the gold is stolen. This video does 1 thing - it gives them the proof to show that at one point they did have the gold/tungsten/large choclate bars...

 

...It's all part of the plan

Thu, 09/01/2011 - 06:19 | 1622047 scratch_and_sniff
scratch_and_sniff's picture

The real plan is to have you medicated.

Thu, 09/01/2011 - 18:51 | 1624083 PaperBugsBurn
PaperBugsBurn's picture

stoooopid

Thu, 09/01/2011 - 01:31 | 1621813 Sokhmate
Sokhmate's picture

Please don't use "Inquiring minds want to know"

It's abused by another blogger that I shall not mention.

Thu, 09/01/2011 - 01:32 | 1621815 FranSix
FranSix's picture

You could pretend to hold gold through the ETFs, as they pretend that the gold stored in an LBMA warehouse isn't actually leased several times over, and pretend that you can actually take delivery.  You can also pretend that gold moving out of the warehouse is being redeemed by moving it to the back shelf.

 

Thu, 09/01/2011 - 01:33 | 1621816 Caviar Emptor
Caviar Emptor's picture

Is this like Paul is dead? 

Thu, 09/01/2011 - 06:05 | 1622033 Bicycle Repairman
Bicycle Repairman's picture

Yeah, it is.  And if you play "Helter Skelter" backwards you can clearly hear the Beatles chanting "No gold for u, bitchez!"

Thu, 09/01/2011 - 01:33 | 1621817 Myzery
Myzery's picture

http://www.spdrgoldshares.com/sites/us/gold_bar_list/

The ounces of gold listed on the daily barlist may differ from the ounces of gold listed as owned by SPDR® Gold Trust (“Trust”) on the website due to timing differences in trading and settlement.  The barlist includes ounces of gold on a settlement date basis, while ounces shown on the website are on a trade date basis.  Effective June 1, 2011, the Trust has entered into an agreement with HSBC Bank USA, N.A., the Trust’s Custodian, which will ensure that all of the Trust’s gold is held in allocated form at the end of each working day.

 

1. Settlement vs trade dates

2. End of day allocation (they have all the gold AFTER they seal the doors ;)

3. it is actually very likely that Bob grabbed a bar on the top of the pile and 1.5 TONNES of gold did move. If you've worked in a warehouse its usually FIFO.

4. Read the details, HSBC will ensure all the gold is allocated but they aren't the sole custodian.


Until someone can pull historical bar lists and verify when the report was taken it's all just fluff.


 


Thu, 09/01/2011 - 04:08 | 1621954 janus
janus's picture

i

Thu, 09/01/2011 - 07:28 | 1622113 Galen Slade
Galen Slade's picture

If someone were really interested, they could use the value of the NASDAQ shown on the first frame to identify the day the video was released.  No help with when it was actually taken, though...

Thu, 09/01/2011 - 01:34 | 1621818 Milton Waddams
Milton Waddams's picture

So they stick post-it notes to the stacks of gold?  What could go wrong?

 

 

Thu, 09/01/2011 - 01:34 | 1621821 Caviar Emptor
Caviar Emptor's picture

Pisani filmed the segment in the very studio where the Apollo moon landings were filmed

Thu, 09/01/2011 - 02:05 | 1621857 nyse
nyse's picture

You beat me to it!

Thu, 09/01/2011 - 08:27 | 1622202 Carmagnole
Carmagnole's picture

He went all the way to the seekret base on Mars?

Thu, 09/01/2011 - 08:02 | 1622165 jimijon
jimijon's picture

But, but, Stanley Kubrick is dead. He is dead, isn't he?

Thu, 09/01/2011 - 01:36 | 1621823 yannix
yannix's picture

It would be interesting to ask SLV where is the Bar ? ...Where did it go ? ...What does your auditors say about it ?  How do you justify the discrepency in the inventory  ? Its about 720,000 dollars Where is it ?

Thu, 09/01/2011 - 01:36 | 1621824 ChiefJohnRutledge
ChiefJohnRutledge's picture

Pisani should have learned from past reporters' experiences dealing with secret contents of vaults.   There was nothing in Al Capone's vault, and it took the career of Gerald Riviera, a/k/a Gerald Rivera, now known as Geraldo Rivera, some time to recover.   But that was just ratings taking a dive.   Pisani's gold skulduggery concerns the fate of the entire world.

Thu, 09/01/2011 - 01:40 | 1621826 agrotera
agrotera's picture

Hear Hear!!!  Thank you Tyler for your voice of pure gold!!!!!

Now that the guest speaker has "outed" the method, i wonder if any miners are actually part of the scheme?  

Thu, 09/01/2011 - 04:09 | 1621959 janus
janus's picture

a

Thu, 09/01/2011 - 03:43 | 1621961 janus
janus's picture

series 7&3 books on the way -- have sponsor (will tell you later)

Thu, 09/01/2011 - 01:43 | 1621837 nah
nah's picture

but its gold

Thu, 09/01/2011 - 01:45 | 1621841 Spitzer
Spitzer's picture

They let Piss face into the vault ?

Thu, 09/01/2011 - 01:46 | 1621842 grok
grok's picture

I think you meant to say first in last out FILO.  The last bar in would be the one on top.  First bar would be at the bottom of the stack, thus harder to get to.

Thu, 09/01/2011 - 07:47 | 1622145 fredquimby
fredquimby's picture

No, LIFO I would have thought...

Thu, 09/01/2011 - 01:51 | 1621843 traditionalfunds
traditionalfunds's picture

That bar will be on the next list GLD produces. Guaranteed! 

Thu, 09/01/2011 - 01:53 | 1621846 The Deleuzian
The Deleuzian's picture

I was always wondering when something like this would be on CNBC!

Let's see:  70 billion ($) /$1800 oz. = approx 38,888,000 ozs.

World production is approx. 2500 tons = 80,000,000 ozs.

So roughly 50% of World annual production!!

That has to be all the London/NY axis has!! No!!

Thu, 09/01/2011 - 01:57 | 1621849 ik999
ik999's picture

Tungsten Biatch!

Thu, 09/01/2011 - 02:04 | 1621854 Troy Ounce
Troy Ounce's picture

 

 

Great obervation, congratulations.

 

Thu, 09/01/2011 - 02:07 | 1621860 nyse
nyse's picture

For real, well done.

Pretty stupid error on their part in any case. 

Thu, 09/01/2011 - 02:20 | 1621861 BC6
BC6's picture

Tinfoil?

I can make out 2 of the bar #'s from the vid (at 1:31).

Bar #36431 is present in the vid && listed in the PDF.

Bar #36272 is not in the PDF although there is a Bar #136272 noted in the PDF. The bar looks too big to have a preceding 1 in in that digit column. Also, there is nothing in the PDF for #3B272 or #38272 either in the event of a photoshop.

Pissant BITCHEZ!!!!

 

Thu, 09/01/2011 - 02:20 | 1621876 RobotTrader
RobotTrader's picture

 

 

This chart looks exactly like FOSL before it crashed.

http://www.kitco.com/lfgif/au3650lf_ma.gif

Just sayin'......

Thu, 09/01/2011 - 03:20 | 1621942 The Grifter
The Grifter's picture

Well not exactly, but keep believing in momo stocks.

Gold in a parabolic uptrend over the last 10 years with no signs of stopping.  

FOSL in a parabolic uptrend since 2009 with a crash last month.

Not that I don't like my Fossil watch, I really do like it, it's quite stylish and gets lots of compliments, but if I had a solid gold watch I wouldn't be too worried.

 

 

 

Thu, 09/01/2011 - 10:38 | 1622588 narapoiddyslexia
narapoiddyslexia's picture

Really? A 10-year chart versus a 1-year chart? Really?

Robo's comment this time is so off the mark that I'm starting to believe the rumor he's a TD doppelganger designed to provoke comment.

Say it ain't so, TD.

Thu, 09/01/2011 - 06:09 | 1622038 Bicycle Repairman
Bicycle Repairman's picture

Wow, that is some deep analysis.  Try this: lop the last 3 years off of your graph.  Looks like gold was headed for a fall 3 years ago, doesn't it?  How'd that work out?

Thu, 09/01/2011 - 02:24 | 1621891 tony bonn
tony bonn's picture

so that's what gold plated tungsten bars look like.....

Thu, 09/01/2011 - 02:30 | 1621900 The Deleuzian
The Deleuzian's picture

RobotTrader

You know secular bull markets don't end in a whimper!  They always end in a bang!  Sorry TS Elliot...

You call that a bang! With >99.5% of population don't have a clue where to get gold..let alone what it represents..

Your going to have to do better that.. What's happening to you!!

Thu, 09/01/2011 - 02:33 | 1621908 euphoria
euphoria's picture

Playing devils advocate here, But I assume the bar he would have picked up would have been easily accessible and possibly already on a pallet to be removed from the vault. Does GLD post previous bar lists at all to see if this bar serial was ever on their list? or when it was removed from their list? 

Thu, 09/01/2011 - 06:17 | 1622045 scratch_and_sniff
scratch_and_sniff's picture

shhhhh, that sounds too normal, we cant have any innocent and benign explanations here... some other place, some other time.

Thu, 09/01/2011 - 08:56 | 1622255 optionsoptions
optionsoptions's picture

LOL. That would be what a rational person would think. "this bar is about to go out which is why its the most accessible and I can pick it up without taking pallets off the top of it".

Don't expect too much of that line of thinking here though

Thu, 09/01/2011 - 14:04 | 1623187 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

What are you snorting?!

Thu, 09/01/2011 - 02:48 | 1621925 The Grifter
The Grifter's picture

This is why I read ZH.   Surely someone has a cache history of those daily reports to check for that number?

Kind of funny to see gold stacked on pallets, would be fun to be a fork lift driver in that place. 

Thu, 09/01/2011 - 03:04 | 1621935 The Grifter
The Grifter's picture

The ZJ6734 shows up in GLD inventory going back to 2009, but no numbers beyond it:

http://web.archive.org/web/20091123074318/http://www.spdrgoldshares.com/...

So what's up with ZJ6752?   Hershey bar wrapped in gold foil?   Maybe all those bars in the video are chocolate bars.    I think it's really a ZH6752 bar but they changed the video to avoid publicity for Zero Hedge.

This story will grow some legs IMO

Thu, 09/01/2011 - 03:12 | 1621936 Thomas Gresham ...
Thomas Gresham b. 1519's picture

Pisani: Do you lend it out?

 

Guy: No, that would be illegal

 

Pisani: *Relieved Pause* SEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!

Thu, 09/01/2011 - 03:46 | 1621947 Construct
Construct's picture

There is only one way to know if gold is fake or not and that is ultrasound scanning over the entire bar to see inside it.

http://files.gereports.com/wp-content/uploads/2010/11/gold-bar.jpg

Thu, 09/01/2011 - 09:58 | 1622426 Contra_Man
Contra_Man's picture

Not a nice feeling having your net worth "protected" by "units" of a "promise" of non-encumbered physical gold:

http://contramanfund.wordpress.com/2011/03/02/print-more-gold-backed-tun...

Thu, 09/01/2011 - 05:50 | 1621956 thunderchief
thunderchief's picture

I'm sure all the bars are real.  But he says all this gold is owned by the GLD trust, or it sure sounded that way.  But what about countries like Venezuela who have gold there?   He also stated the gold could not be lended out to other parties.  Does that mean Venezuela's gold cannot be lended out to GLD or GLD's bars cannot be lended out to Venezuela,? Or is he just saying someone off the street can't have a bar off the shelf for an IOU.  I'm sure in a courtroom he would start off with "what I really meant was....." 

Showing a huge vault full of gold does not mean much.  How many countries around the world store their gold there?  He made it sound like it all belongs to GLD.  How much do the Chinese Keep in London?

So that whole vault is owned by GLD, and no other nation has a claim to it?

Hmm.  OK. 

Thu, 09/01/2011 - 03:44 | 1621962 AnAnonymous
AnAnonymous's picture

Mostly power games. Gold bugs want to be the ones dictating what the common perception must be.

In the end of this story, it will be revealed that banks, central banks etc have more gold than their inventory let suppose.

Fri, 09/02/2011 - 13:22 | 1627059 akak
akak's picture

You know, before reading your many diatribe-like posts, I never realized that cholera could manifest itself in excessive mental diarrhea as well as in the usual rectal sort.

Thu, 09/01/2011 - 04:15 | 1621977 indio007
indio007's picture

"That would be illegal" LOLOLOL

Yes because crime doesn't happen.

Thu, 09/01/2011 - 06:13 | 1622043 scratch_and_sniff
scratch_and_sniff's picture

Yes, and because crime has happened somewhere, it means it happens everywhere all of the time.

Thu, 09/01/2011 - 04:27 | 1621991 Hobbleknee
Hobbleknee's picture

I started the month with a ten-dollar bill in my wallet and ended the month with a ten-dollar bill in my wallet, but wait a minute WTF... this bill does not have the same serial number as the one at the beginning of the month! Conspiracy!!!!

Thu, 09/01/2011 - 08:36 | 1622221 tmosley
tmosley's picture

So you are saying that they are spending the gold and replacing it at the last minute, and not noting the transactions on their bar lists?

No,no, that would be ILLEGAL.

Thu, 09/01/2011 - 08:39 | 1622230 Terminus C
Terminus C's picture

The joke is on you because the bill at the beginning of the month bought more than the bill at the end of the month.

Thu, 09/01/2011 - 11:06 | 1622698 FeralSerf
FeralSerf's picture

But the bar at the begining of the month bought less than the  bar at the end of the month.  How can that be?

Thu, 09/01/2011 - 04:51 | 1622000 janus
janus's picture

for 24 hours, janus is banning himself from ZH for being an obnoxious cock.

i am on medication with some wicked flu.  but this is no excuse.  i went WAY too far with mysery; and would do anything if i could take it back.

i am penitent.

see y'all friday.

Thu, 09/01/2011 - 10:11 | 1622471 Temporalist
Temporalist's picture

Nobody gives a shit just learn your lesson and move on. 

Thu, 09/01/2011 - 04:56 | 1622003 Mamzer Ben Zonah
Mamzer Ben Zonah's picture

With regard to "blood gold" from South Africa, the Swiss have a saying"

"Das blut,

is wäscht,

begone."

 

"The blood washes off."

Thu, 09/01/2011 - 04:59 | 1622004 Central Wanker
Central Wanker's picture

There are major criminal activities going on in all areas of the financial world. Why should gold be excluded from all the fun?

Thu, 09/01/2011 - 05:21 | 1622008 Zaphod B.
Zaphod B.'s picture

Oh, Ragnar, wherefor art thou Ragnar.....

Somewhere he is drooling.....

(Ragnar Danneskjöld, to clarify)

Thu, 09/01/2011 - 05:49 | 1622023 chirobliss
chirobliss's picture

There should be a banner flashed across the top of this site:

"Warning, do not feed the conspiracists"

I'm surprised y'all got time to check off all the bar numbers between reloading yer pump actions, toppin' up your jerky stocks n checkin' to see that yer gold fillings haven't fallen out.

There's the answer to CD's dilemma– Meercans are now so fucking dumb they'll believe in any shit that pops into their vacuous skulls. What a pathetic, sad, moronic lot!!

Thu, 09/01/2011 - 06:10 | 1622039 scratch_and_sniff
scratch_and_sniff's picture

Yeah, to many comic books and strong spliffs.

Thu, 09/01/2011 - 10:29 | 1622553 Temporalist
Temporalist's picture

While I don't care about the conspiracy angle it seems quite convenient that GLD, the paper gold pet of the MSM, is being pumped endlessly as the "vehicle" for owning gold.

Of course in order to maintain/gain confidence doing a puff piece is appropriate and specifically by the douchebag that has NO CLUE about gold for years as a poster above noted said it would not break out above $300.

Thu, 09/01/2011 - 13:59 | 1623176 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Try a red pill with your next Koolaid, Chirobliss.  Good day to you!

Thu, 09/01/2011 - 14:36 | 1623259 ToddGak
ToddGak's picture

By lumping all "Meercans" into the same category, you are no better than the conspiracy theorists who think everyone is out to get them.

There is a broad mix of opinions and ideas here.  Take what you can from the good ones and skip over the imbeciles.

Thu, 09/01/2011 - 15:30 | 1623442 Raymond Reason
Raymond Reason's picture

Get your back cracked man, you'll feel better. 

Thu, 09/01/2011 - 05:53 | 1622026 savagegoose
savagegoose's picture

i saw a video and all the gold bars had the same number on them, and no the number wasnt 99.999

Thu, 09/01/2011 - 06:00 | 1622030 MobBarley
MobBarley's picture

Chocolate covered tungsten.

 

Thu, 09/01/2011 - 06:08 | 1622036 scratch_and_sniff
scratch_and_sniff's picture

"Years of ridicule and provocation", more like "years of slur, disinformation and damaging lies". Maybe ZJ6752 was already set to leave the warehouse, it was not on a sealed pallet and hence was a loose bar and could be handled easily...or maybe its not even gold Tyler, maybe the bars are filled with toilet paper? What’s the statistical chance of that?

Thu, 09/01/2011 - 06:46 | 1622070 Waterfallsparkles
Waterfallsparkles's picture

Maybe someone ate it.

Thu, 09/01/2011 - 06:48 | 1622075 Waterfallsparkles
Waterfallsparkles's picture

I enjoyed the video but the way it was fillmed in fast motion with the cameria jumping from place to place or panning at ultra fast speed it made you dizzy.

Looks like the camera was made by the same engineers as the High Frequency Traders moving at a nano second speed.

Thu, 09/01/2011 - 06:50 | 1622078 Quinvarius
Quinvarius's picture

GLD does not have the gold. Unless they show you 100,000 bars of gold, forget about it.

Just before last Christmas GLD fired their old auditor. Then they hired a new one. The new auditor NEVER claims to count the bars when they do an audit. The say they count 14,000 randomly chosen bars. That doesn't even make sense to me. Why would you do that and not just count them all? Why choose 14,000 out of 100,000 bars and declare that to be an audit? They don't even claim to have ever seen 100,000 bars. They only claim that the records say 100,000 bars are supposed to be there.

GLD dumped most of its physical gold trying to suppress the price last Christmas while gold was trying to go parabolic.

http://www.spdrgoldshares.com/media/GLD/file/Stockcount_cert.pdf

read that joke of an audit.

Thu, 09/01/2011 - 06:56 | 1622081 silvertrain
silvertrain's picture

Gold can be gathered here and there to a degree for horse and pony shows..Show me the FUCKIN SILVER BITCHEZ..That is whats going to take this bitch down, S I L V E R ....

Thu, 09/01/2011 - 07:01 | 1622088 jmcadg
jmcadg's picture

Some of those stacks are 8 pallets high. Looks like 80 bars per pallet, nearly 8 tonnes in weight.

That's decent wood their using, or are they chocolate bars! This is all hilarious. Still more CNBC watchers will send their worthless fiat into this 'fantastic' vehicle and leave the physical shit for us :)

Thu, 09/01/2011 - 07:01 | 1622089 buzzsaw99
buzzsaw99's picture

Pissani jizzed on it so they had to send it out to be cleaned.

Thu, 09/01/2011 - 07:23 | 1622107 Quinvarius
Quinvarius's picture

I did some quick math.  If the pallets are all properly stacked with 6 layers of gold, with each layer holding 80 bars, that is 480 bars per stack.  I can see that most stacks are not proper like that, but that is how they are pictured when perfect on the spdr website.  So there should be about 208 perfect stacks in that room.

Thu, 09/01/2011 - 07:23 | 1622110 bania
bania's picture

everyone is missing the obvious point here.  This video shows GLD has additional, non-accounted for, bars of gold. This is means they have EXTRA gold and therefore their shares should be even worth MORE. This is a very, very, bullish sign.

Thu, 09/01/2011 - 07:28 | 1622123 Hannibal
Hannibal's picture

IF YOU DONT HOLD IT, YOU DONT OWN IT!

Thu, 09/01/2011 - 07:30 | 1622127 israhole
israhole's picture

Physical, then miners, but no GLD for me, thanks.

Thu, 09/01/2011 - 10:47 | 1622480 Shell Game
Shell Game's picture

Agreed.  What's interesting is that GLD is the big clearinghouse for anonymous buying/selling by the giants.  With paper smoke n' mirrors they're able to take delievery of enormous amounts of physical w/o disrupting price. With 40:1 - 45:1 leverage, it merits watching GLD...

http://fofoa.blogspot.com/2011/01/who-is-draining-gld.html

Thu, 09/01/2011 - 07:42 | 1622138 The Wolf
The Wolf's picture

I  thought the dead giveaway that all wasn't what it seemed was when the camera panned around and their was a diary on the table that said O. b-Laden...next to a stack of Rodox magazines...

Gold and ObL... both very hard to find, validate and verify...

 

Thu, 09/01/2011 - 08:02 | 1622168 rsnoble
rsnoble's picture

It's ok to trade GLD.  But those buying it for protection will be in for a surprise if things got really bad.  If you don't have it in your hands anything can happen to it.  Just amazing the things that have came to light that the gov't has done over the years  and then things like gold confiscation and people dismiss it all.  Yes, thanks to the likes of Zerohedge I am one of the biggest nuts out in general population.  At least some people are coming around and realizing things are fucked up.  Too bad things will have to get to the level of 'pure shit' before people will revolt.  By then it's too late.  What are you going to be fighting for? A piece of gov't debt and a carton of dry milk? Yeehaw, it's great to be surrounded by fucking morons.

Thu, 09/01/2011 - 08:06 | 1622170 rsnoble
rsnoble's picture

And on the other hand......if you do have it in your hand and the gov't has a piece of paper stating you have it..........I wouldn't consider it safe either.  I mean really........this gov't will do anything to survive you should know that by now.  I think they would confiscate the gold before complete collapse while they can still coordinate the effort.  Then you'll really be screwed.  I think im going to keep stockpiling liquor, sugar, ammo etc and try and keep it out of sight for the inspectors as long as possible.

Thu, 09/01/2011 - 08:29 | 1622208 NidStyles
NidStyles's picture

That's what shovels and quickrete are for.

Thu, 09/01/2011 - 08:11 | 1622180 rsnoble
rsnoble's picture

Furthermore if they have to do a video that proves what they have because no one believes them.........just my gut filling they're like every other jackazz...........they're lieing.  I don't even watch news on tv anymore for years now.

Thu, 09/01/2011 - 08:27 | 1622203 Hephasteus
Hephasteus's picture

They aren't calming markets but they sure are calming the consipiracy theorists. LOL

Thu, 09/01/2011 - 08:45 | 1622236 Seasmoke
Seasmoke's picture

thats no way to handle Tradition

Thu, 09/01/2011 - 08:49 | 1622239 Kokulakai
Kokulakai's picture

Of all the bars, on all the pallets, in all the warehouse, Pisani walks into "one" not on the list.

What are the odds?

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