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Jim Roache
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GLD Conspiracy Theories

- Adam Hamilton - Zealllc

With the greatest respect, we, as a group, generally agree I think, that fiat currency is just a piece of paper backed by a promise. Accepting a promise from government - what a concept? Now we find that what many of us knew to be true is true, They have securitized gold, just as they have countless other assets. Any serious investor will tell you to take possession of precious metals. Otherwise, all you have is a piece of paper. I don't care if it is a bank certificate, and IOU or the currency that was being paid in bribes for shortages and late delivery of bullion by a certain Vault for months now - no secret. There are any number of rich parties who might show up and demand bullion, and there will be none. What in heaven's name gives anyone the confidence (foolhardiness) to believe that armed with a tiny piece of paper, they have any guarantee of anything. 95% of gold in London is pooled and those "owners" are unsecured if a vault defaults; testimony the other day at a Regulatory Hearing (Google it) was that silver is leveraged 100:1. Never invest in something you don't understand. If you buy gold/silver get it in your got little hand so that there is no third party involvement. I can't believe I am even seeing such a silly discussion - paper versus gold/silver bullion on this site.

Commented 5303 days ago

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