Amazing - GLD ETF Tells Customers You Can’t Have The Gold

Let me blunt in my summary of this interview you are about to read, and forgive me for being redundant, but people don't absorb what they don't want to absorb.

FOR EVERY OUNCE OF PHYSICAL GOLD IN COMEX DEPOSITOR VAULTS, THERE ARE 55 PAPER CLAIMS AGAINST IT.  Which means out of 55 people who believe they own gold, only 1 can take physical delivery of it--if everybody demanded delivery simultaneously.  The other 54 are screwed, in other words.  Small holders of GLD have never been able to take delivery, but now large holders are being denied delivery requests, indicating stress in the physical markets, as more investors are doubting the integrity of the precious metals sector.

This is a result of our fractional reserve gold system, similar to our fractional reserve banking system.  Only with gold, there is re-hypothecation of a physical real asset--namely gold bullion.  With the global banking system, it's leveraged credit on top of credit--another Ponzi scheme of derivatives with a notional value of $1.2 quadrillion.  That's $1,200,000,000,000,000.

Your take-away message is buy physical gold and silver coins and bars.  Avoid futures contracts, ETF's, over-the-counter derivatives, or any paper asset which "represents" precious metals.  It's virtual, and when you need your gold and silver, these paper assets are merely empty claims.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/11_Amazing_-_GLD_ETF_Tells_Customers_You_Cant_Have_The_Gold.html