Comments on: The GLD and SLV: Legitimate Investment Vehicles or Not?

By: Admin

Admin — Mon, 22 Aug 2011 09:45:07 +0000

@bm. We sure hope you know how to fact check better than your commentary above. If you noted the date we posted this article, we wrote this article MORE THAN TWO YEAR AGO in July of 2009. Everything we stated in our article was true given the prospectus at that time. Furthermore, despite the fact that the prospectus has been changed since then to address concerns we’ve been raising about the GLD and SLV for years, we can still poke holes in many of the statements contained in the current prospectus. If you spend some time researching the 6 yrs of articles we’ve posted on this website, you will find plenty of our objections to the suspect nature contained in the current prospectuses as well.

By: bm

bm — Fri, 19 Aug 2011 11:03:20 +0000

You claim you read the prospectus on GLD? Are you sure? This comes directly from the prospectus: “As at March 31, 2010, the amount of gold owned by the Trust was 36,324,952 ounces with a market value of $40,520,483,790 (…). As at March 31, 2010, the Custodian held 36,158,483 ounces of allocated gold in the form of London Good Delivery gold bars in its vault (…). An allocated account is an account with a bullion dealer, which may also be a bank, to which individually
identified gold bars owned by the account holder are credited. The gold bars in an allocated gold account are
specific to that account and are identified by a list which shows, for each gold bar, the refiner, assay or
fineness, serial number and gross and fine weight. Gold held in the Trust’s allocated account is the property of
the Trust and is not traded, leased or loaned under any circumstances.” Enough said. I think this clearly proves you don’t know what you are talking about when writing this article!

By: Buy Physical Gold and Physical Silver Through a Commercial Bank and You May End Up with a Vault Full of Air | The Matrix Sentry

Thu, 09 Dec 2010 15:16:29 +0000

[...] ounce of physical gold that actually exists in the market. With PM ETFs, it is highly likely that multiple claims exist on whatever physical gold and silver back the GLD and SLV, if any physical gold and silver even back them at [...]

By: Carl

Carl — Fri, 01 Oct 2010 23:50:39 +0000

s. bullet&hellip: yes, the earliest investors in a Ponzi scheme often get out with a gain. Don’t wait too long to bail.

By: s. bullet

s. bullet — Sat, 25 Sep 2010 05:02:20 +0000

yeah, I can’t stand that imaginary fund SLV. It’s a mirage but then again I just gained $6 per share of the SLV I’ve owned since February. That’s a mighty nice mirage I invested in. So I guess if I sell tomorrow, my cash (35% increase in 2010) will be suspect, a mirage, unsubstantiated???? Will my trip to the Bahamas with my gains in SLV be a mirage too? Give me a break.

By: 3 Reasons to Sever All Ties with Commercial Investment Firms | The Underground Investor

Wed, 09 Jun 2010 09:23:17 +0000

[...] profit that would result if clients opted to buy physical gold and physical silver on their own. As this third article explains, the probability is extremely high that these two funds will offer little of the protection that [...]

By: Precious Metals: The Safest Bet During Uncertain Markets | Global Investors

Precious Metals: The Safest Bet During Uncertain Markets | Global Investors — Tue, 18 May 2010 06:55:00 +0000

[...] TWO: Commercial investment firms do not educate their financial consultants regarding precious metals. Most of their consultants probably could not even properly explain something as basic as the difference between ounces of metals classified as resources and those classified as reserves and the significance of the different categories among these classifications. Having no basic understanding of precious metals leaves their consultants woefully unprepared to provide any type of meaningful guidance regarding PMs. For example, when the aforementioned Kimberly Sterling finally gave in to her one client that insisted on owning gold, she steered him into a paper gold ETF. But here’s why even that advice will most likely turn out to be a huge mistake. [...]

By: Gold: The Safest Bet, Unlimited Demand, Vending Machines, and Price Projections | Gold Investing Guide

Tue, 18 May 2010 02:54:01 +0000