Friday, March 4, 2016

ALERT: Andrew Maguire – Western Central Planners Have Finally Lost Control Of The Gold Market

Long story short:  if you think you own gold via the gold ETF holdings like GLD, you don't own any gold.  You only have a legal claim to a phantom bar of gold.  The same is true if you are long a gold COMEX futures contract, or have your unallocated gold "stored" in a vault.  These are merely contracts, legal paper claims to gold bars which don't exist.  For every 500 ounces of paper gold traded on a daily basis in financial exchanges, only one ounce of physical gold backs them up.

This is why you should only possess physical gold.

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