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

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Thu, 09/01/2011 - 01:21 | 1621777 Id fight Gandhi
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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

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