ETF Or (GLD) / achat or papier/ danger

Rob Kirby s'insurge bien évidemment contre l'analyse de nos 3 reporters .. arguant que la hot money va sur les obligations et autres matières premières
et la séance d'aujourd'hui montre à quel point ces analystes sont vraiment minus .. pour ne pas dire plus

Citation :

*SPDR posts biggest quarterly drop since inception

* Investors seen shifting to other commods, bonds

au sujet de mon hypothése plus haut .. le tonnage de l'ETF argent SLV n'a pas subi la même désaffection.. au contraire, il fait de nouveaux plus hauts ..
il s'agit donc peut etre tout simplement d'un réarbitrage de etf or GLD vers etf argent SLV... en ligne avec la baisse du ratio argent /or ..

mais cette "fuite" GLD me fait sérieusement penser à celle des spéculateurs "others reportables " sur le comex... je réfléchis tout haut ..


je vous laisse avec Kirby , qui montre à quel point la demande "or" reste forte , versus la demande indienne et chinoise.. qui sont comme vous le savez, les locomotives de ce marché ... ce que nos 3 ânes analystes ignorent superbement ..

www.lemetropolecafe.com

Bill;
This appeared in Monday’s Midas:
<BLOCKQUOTE>
Gold ETF posts biggest quarterly outflow since 2004


*SPDR posts biggest quarterly drop since inception
* Investors seen shifting to other commods, bonds
SINGAPORE, April 1 (Reuters) - The world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust , posted in the first three months of 2011 its biggest quarterly drop since inception as the prospect of interest rate hikes and gains in other commodities drove investors to sell……. </BLOCKQUOTE>
Following the link, the reporters who excreted this [manure] are listed as: Lewa Pardomuan, Jan Harvey and Nick Trevethan; Editing by Clarence Fernandez)
Are these “reporters” really trying to convey the notion that bonds and other commodities [Note: no mention of silver] have become more attractive to investors than gold? Are we to believe that these reporters – working for an international news gathering agency – are unaware of this:
<BLOCKQUOTE>
SLV Inventory Hits Record High


The “tonnes in the trust” at the world’s most popular silver ETF – the iShares Silver Trust (NYSE:SLV) – reached a record high yesterday at just under 11,000 tonnes after a series of additions over the last month totaling more than 600 tonnes.</BLOCKQUOTE>

Of course, expecting Thompson/Reuters to “pick up” on the notion that the recent narrowing [halving] of the gold / silver ratio – from 75 to 37 has been one of the most DOMINANT themes in the precious metals arena for the past few months – talked about throughout the mainstream financial press by such luminaries as Eric Sprott – would be expecting too much.
And, of course, you’d never expect anything “newsy” – like record forecasted demand for physical bullion in India cloud your perspective.
<BLOCKQUOTE>
India gold imports to hit record high in 2011


March 22, 2011
MUMBAI (Commodity Online): Gold imports by India, the largest consumer and importer of the yellow metal in the world, is going to touch a record high in 2011 despite the high prices of gold.
According to initial estimates by the Bombay Bullion Association (BBA), imports of gold by India is steady and strong and could hit a record of 800 tons this year.
“Gold import by India is going up every month despite the high gold prices. Strong jewellery sales and consumer investment demand for gold are the main drivers for the surge in gold imports,” a BBA official said.</BLOCKQUOTE>
Maybe these Reuters “hacks” should stop and read what their co-worker – Fayen Wong – had to say about Chinese physical gold bullion demand back on Feb. 16, 2011:
<BLOCKQUOTE>
http://www.reuters.com/article/2011/02/16/us-icbc-gold-idUSTRE71F1MO20110216

China gold demand growing at "explosive" pace: ICBC


By Fayen Wong
SHANGHAI | Wed Feb 16, 2011 5:20am EST
SHANGHAI (Reuters) - Demand in China for physical gold and gold-related investments is growing at an "explosive" pace and its appetite for the yellow metal is poised to remain robust amid inflation concerns, said an Industrial and Commercial Bank of China (ICBC) executive….</BLOCKQUOTE>
The reality is that 75 % plus of all bonds being issued are being bought [monetized] by the U.S. Federal Reserve. There is no private demand for bonds. Investment demand for physical bullion continues to ramp up at unprecedented rates AROUND THE WORLD. Regrettably, any lack of interest in GLD – is offset with record demand for SLV [I say regrettably, because both are likely frauds] – likely institutions playing the narrowing spread. Another likely reason for lack of or diminished interest in GLD is the fraud likelihood: the largest buyers of physical bullion are becoming much better informed that the Spiders GLD ETF has MAJOR shortcomings regarding the custody / ownership of metal they purport to have.
So congratulations Lewa Pardomuan, Jan Harvey and Nick Trevethan – you have shown not only that you have contempt for your readership, you are a disgrace to financial journalism. But then again, on the bright side – all three of you have shown yourselves to be more than qualified to work with Jeff Christian at CPM Group. If Jeffrey isn’t hiring, I’m sure he would be happy to forward your names to Philip Klapwijk over at GFMS, who have not told a straight story on precious metals in more than 10 years.
Best,
Rob Kirby

GLD, c'est décidément pas de l'or physique



la dernière étude de Casey Research, de Doug Horning confirme en tout point, l'arnaque qu'est GLD, qui se présente comme un etf or, backé sur du physique, avec livraison or physique optionnelle.



pour échanger ses parts contre du métal, il vous faudra, en sus des commissions, montrer patte blanche

cad avoir au moins 100.000 parts ET être accrédité ( être broker ou market maker )



et bien entendu, que vous soyez actionnaire ou non, impossible de visiter la fameuse réserve, aussi mystérieuse que celle de Fort Knox



l'analyse de Casey Resarch

http://www.caseyresearch.com/cdd/behind-scenes-gld



et les commentaires et doc complémentaires de Chris Powell

http://www.gata.org/node/10366

LOL, je vois qu'il vient de sortir une vidéo, où l'on voit Bob Pisani visiter la réserve de GLD...

entre autre rigolade, le lingot numéroté brandi par le reporter n'est pas répertorié dans la liste fournie par GLD

quel dommage...





http://www.zerohedge.com/news/some-observations-bob-pisanis-visit-glds-vault



mais ce qui est vraiment marrant, c'est qu'ils aient enfin craqué en produisant ce document, totalemment bidonné...



les réactions d'un vétéran de chez Midas



www.lemetropolecafe.com





Bill H:

They must think we are idiots?

To all; below my comments is an article posted by "Tyler Durden" from the Zerohedge website regarding the CNBC video released showing the alleged vault holdings of GLD. "Conspiracy nuts" far anfd wide (including myself) have contended that the vault, auding and custodian precesses of GLD are suspect. I find it absolutely hilarious that CNBC would be "allowed' into the vault" with Bob Pisani being blindfolded and stripped of cell phone and any other GPS devices only to be shown holding a Gold bar whose serial number doesn't even show on their "barlist". How sloppy is this? "They know" that the "Goldbugs" are complete conspiracy nuts who have to be shown something in black and white (in this case yellow) that is and can be verified to be believed.

Did they think that 100's if not 1000's of us "conspiracy nuts" wouldn't check the serial numbers shown? We are like a "Sherlock Holmes society" when it comes to this stuff. Coin melt or tungsten and not in good deliverable form? German swaps, Gold with the Russian Czar's stamp on it? True global supply and demand? These are all things that "normal people" take at face value but not us conspiracy nuts! We want and dig for the truth because as time has gone on, more and more the numbers just didn't and now really JUST DON'T add up!

Did CNBC just figure the sheeple would oooh and ahhh looking at some Golden bars? Did they do this piece because some people have finally gotten smart and are buying physical rather than the ETF and they needed a publicity piece to help divert demand away from the real thing and back into their "thing"? I could go on and on as many have done about the prospectus loopholes but I won't. All I know is that if your enemy who is already known and admitted to misdealings (HSBC, JPM?), are acting as custodians for holdings that you know they are "short of", do you really want to be involved? Do you want them to safeguard your assets when you already know these markets are fractionally reserved? Do you really want an entitiy(s) which is short to even be tempted by your "stash" when they are pressed to deliver? I'm not sure I am making my point here so in plain street English "would you put a wolf that hasn't eaten in 7 days in charge of your chicken coop"?

The whole system from top to bottom and side to side is a fraud and is based on a fraudulent currency, the Dollar. Do you think the issuer of that currency or their minions would ever hesitate one second to eat your eggs or chickens and leave you to go hungry? Very sad to say that you must think and do for yourselves because no one else will. The world has changed and neighbors don't help neighbors anymore just as the government is not "here to help you" especially if you are self sufficient? Don't wait around to find out whether the Gold or Silver "is really there". Do it yourself, that way you KNOW! Regards, Bill H.

toujours à propos de cette vidéo présentant les soit disant réserves de GLD, lire les commentaires de Chris Powell



http://www.gata.org/node/10372



There's a vault with gold somewhere -- but whose vault, and whose gold?


Submitted by cpowell on Fri, 2011-09-02 02:57. Section: Daily Dispatches
11:08p ET Thursday, September 1, 2011

Dear Friend of GATA and Gold:

On CNBC today reporter Bob Pisani was shown being put in a van whose windows had been covered, being driven around London for a while, being walked through an unidentified room containing pallets of gold bars, and then being handed a bar whose serial number, ZeroHedge promptly determined (http://www.zerohedge.com/news/some-observations-bob-pisanis-visit-glds-v...), does not appear on the bar list of the inventory claimed by the sponsor of Pisani's mysterious expedition, the exchange-traded fund GLD, which had meant to dispel suspicions about its gold holdings. You can watch the CNBC report here:

http://video.cnbc.com/gallery/?video=3000043030

For all Pisani or anyone besides his handlers knew, he could have been in the basement of the Bank of England, and the bars he saw could have belonged to the bank itself, to Ireland's Central Bank, or maybe even Venezuela's. Indeed, maybe the Venezuelan ambassador to Britain got the same tour last week, without the blindfolds, in an effort to dissuade his master back in Caracas from repatriating anything and thus making trouble for the fractional-reserve gold banking system and its gold price suppression scheme.

As the custodian for so much foreign-owned gold, the U.S. Federal Reserve may play the same sort of game at the vault of the Federal Reserve Bank of New York. On Mondays the German ambassador may be invited to visit gold he is told is Germany's. On Tuesdays it may be the Italian ambassador's turn. Wednesdays may be reserved for the Swiss ambassador -- yes, even Switzerland, with its mountain fastnesses, is said to keep much of its official gold in New York. (See http://www.gata.org/node/7189.) The Belgian ambassador may visit on Thursdays, as a couple of months ago the Belgian central bank acknowledged that the location of 43 percent of its gold reserves couldn't really be determined, as that much had been lent out. (See http://www.gata.org/node/10031.) Fridays could belong to the managing director of the International Monetary Fund, whose gold, while always being sold or contemplated for sale, has never actually been located either, despite questions posed to the IMF by GATA and clumsily evaded three years ago (http://www.gata.org/node/6242) and a question posed by a member of the U.S. House Committee on Domestic Monetary Policy at a hearing in June (http://www.gata.org/node/10037).

Yes, thanks to today's report on CNBC, it seems that there's gold in a vault somewhere in Britain. But whose vault is it really, and to whom does the gold really belong? How many claims are there against it?

Keeping CNBC's Pisani in the dark, the GLD people didn't answer those questions, but rather made them only more compelling. For keeping him in the dark, at the end of his report Pisani actually thanked them. We do too.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

GLD /hsbc le système frauduleux de l'or papier utilisé à satiété par les bullions banks va leur exploser à la figure et un beau matin,

GLD ouvrira en baisse de 50% et l'or en hausse de 200$



c'est aussi ce qui se passera d'une manière plus générale et pour l'ensemble du systéme monétaire internationam, basé sur des mécanismes tout aussi frauduleux



je vous invite à lire l'excellent papier de Dave à ce sujet



http://truthingold.blogspot.com/2011/09/what-exactly-happened-today.html

le hedge fund de Paulson ( pas le Hank Paulson du trésor us... pas confondre ) procéde à des allégements significatifs de GLD ( un tiers de ses positions ), tandis que Soros les augmente



à noter

- qu'il y a double avantage pour nos millionnaires hedgies, à privilégier les fonds alloués , plutot que du GLD, à la fois pour la discrétion ( aucune obligation de déclarer ses positions ) mais aussi la SECURITE !!


- et que Soros n'est pas le baissier sur l'or, qu'il prétend être

Citation :

There is also the real possibility that Soros’ fund, like other hedge funds, may have opted to own allocated bullion rather than a gold trust. Some hedge funds have opted for allocated gold bullion due to it being more discreet with a lack of disclosure (no quarterly filings), due to the lower long term costs and due to allocated accounts having less counter party risk than a trust with many indemnifications.

source

gld / slv : mécanisme de manipulation des cours de l'or et de l'argent / Andrew Maguire

Comment ça fonctionne?

un article d'anthologie, à lire absolument !

on soupçonnait depuis de début que ces 2 ETF étaient bel et bien des instruments de manipulation du cartel,

Andrew Maguire, confirme et surtout explicite parfaitement comment ça marche ! ( l'explication est donnée pour GLD, mais ça marche exactement de la même façon pour SLV)



ce qu'il faut comprendre c'est que les "paniers" de Gld sont vendus ou achetés par un nombre limité de participants autorisés :



( chaque panier représentant 1000 parts ou actions de GLD, d'une once troy )

JPMorgan, Merrill Lynch, Morgan Stanley, Newedge (un joint venture entre Société Générale et Credit Agricole CIB), RBC, Scotia Mocatta, UBS et Virtu Financial.

liste éloquente,

qui se servent donc de ce privilége pour manipuler à la baisse, en utilisant le privilége de vente à découvert, lorqu'il n'y a pas assez de physique disponible dans l'ETF, ce qui se produit évidemment à chaque fois que le marché est tendu !



je vous laisse découvrir les explications détaillées et fort intéressantes ici :



http://www.tfmetalsreport.com/blog/4327/guest-post-price-suppression-mecanics-gld-and-slv-andrew-maguire

les 2 ETF sortent de la sphére de régulation des marchés britanniques, et comme ils ne sont pas soumis à la régulation US,

Citation :

GLD, the New York Stock Exchange-listed gold exchange-traded fund, appears to have quietly removed key investor protection with the apparent agreement of United Kingdom regulators.



By imputation, the same change in regulation applies to the silver ETF SLV, though less obviously so.

A revision to GLD's prospectus appears to have absolved its custodian and trustee from having to comply fully with the custody rules of the U.K. Financial Services Authority, a change that must have been undertaken with the agreement of the FSA and by implication the Bank of England, which oversees the London bullion market and is party to the London Code for Non-investment Products (the NIPS Code). This code now guides the actions of the management, trustees, and custodians of both ETFs.

ce qui laisse encore plus de latitude aux gardiens respectifs, Jpm ( pour SLV) et HSBC pour GLD, de bidouiller en toute tranquillité sur le métal dont ils ont la garde !

pour mémo, je vous rappelle que , les parts d'etf GLD et SLV sont éligibles à la livraison sur le comex, : as good as gold ( or silver )

http://gata.org/node/11965



en complément le podcast d'Alasdair Mac Leod, relatif à ce sujet

http://www.goldmoney.com/podcast/alasdair-macleod-on-safety-issues-with-gld-and-slv.html?gmrefcode=gata

les hedges funds vendent GLD

il eut été étrange qu'il en soit autrement, puisque nous avons vu ces derniers temps à quel point les HF sont bears sur les futures de l'or.
ils se délestent donc ( voir shortent ) de concert GLD, ce qui est un excellent signal contrarian
==> 106 tonnes d'or pâpier vendues pour le seul mois de février 2013, Georges Soros ayant réduit son exposition de 55% au dernier quadrimestre 2012
 
Encore une fois on confond les ventes avec les baisses de stocks, c'est à dire les livraisons !

Citation :

Gold Sales From Soros Reveal 12-Year Bull Run Decay: Commodities




By Nicholas Larkin & Debarati Roy - Mar 12, 2013 9:27 AM CT

Gold’s worst start to a year in a quarter century and the biggest sales by
investors on record are increasing concern that bullion’s longest rally since
the end of World War I is ending.

Investors sold 106.2 metric tons valued at $5.4 billion from exchange-traded products in February,
the most since their creation in 2003, data compiled by Bloomberg show. Another
26.1 tons was cut since then. Credit Suisse Group AG and Barclays Plc say the
12-year rally will peak in 2013 and billionaire George Soros
reduced his stake in the biggest ETP by 55 percent in the last quarter. Prices
are within 5 percent of a bear market after
the longest run of monthly losses since 1997.



Hedge
funds are now their least bullish since 2007 as economies accelerate
and Federal Reserve policy makers review stimulus. Bullion as much as doubled
after central banks, led by the Fed, started buying more than $3.5 trillion of
debt from December 2008 to restore growth. With global equities at a four- year
high and the dollar near its strongest in seven months, eight of 13 analysts
surveyed by Bloomberg said they expect lower average gold prices in
2014 than this year…

http://www.bloomberg.com/news/2013-03-12/gold-sales-from-soros-reveal-12-year-bull-run-decay-commodities.html

Alasdair Macleod confirme que le gardiennage des etf GLD et SLV n'est absolument pas controlé par le gouvernement anglais,

ce qui évidemment laisse toute latitude aux bullions banks et notamment à JPM et HSBC pour piocher dans les réserves, à leur convenance

http://www.goldmoney.com/gold-research/alasdair-macleod/the-role-of-gld-and-slv.html?gmrefcode=gata