by David Kranzler
Investment Research Dynamics
“If you want to buy gold and silver, why are you buying GLD and SLV? The best case if that you are going to index the price movement in gold and silver. But when you sell GLD they don’t send you bars of gold, you get dollars in your account – devalued dollars. The dollar is being devalued everyday by the Fed. All fiat currencies are being devalued by Central Banks.”
GLD and SLV are “Enrons” waiting to happen. The ratio of paper gold liabilities to the availability of physical gold and silver is minimally 100:1. The fraud in the paper gold/silver market is mind-blowing in its proportion.
Chris Marcus of Arcadia Economics and I discuss the why the bullion banks and the modern London Gold Pool is collapsing: