Redemptions in the GLD are, oddly enough, Bullish for Gold

I agree with Sprott that the smashing of paper gold prices (including the naked short selling of the GLD ETF) has corresponded with the intensifying demand of physical gold.  But I would add to his conclusion of:

To us, this is clearly a bullish signal for gold.

my corollary:

This will accelerate the transfer of wealth from the West to the East, and the impending bankruptcy of Western economies.

http://www.sprott.com/markets-at-a-glance/redemptions-in-the-gld-are,-oddly-enough,-bullish-for-gold/