Has The iShares Gold ETF (IAU) Been Covertly Depleted Of 90% Of Its Physical Holdings, With Banks Like JPM And Goldman Pocketing The Actual Gold?

We wonder just how much actual gold is really held in all of Toronto.

Guest Post: Got Gold? Why Owning GLD Can Be Hazardous To Your Wealth

Given that the stated amount of gold in the GLD Trust has grown to over 850 tons, it appears that a lot of investors believe and trust that investing in GLD is the same thing as buying physical gold bullion. A close reading and analysis of the GLD Prospectus, however, reveals that investing in GLD is drastically different from owning gold. This analysis will show why GLD is nothing more than another form of a derivative security which is loaded with counter-party default risk.

Jeffrey Christian Has A Second Chance To Disprove The Gold Ponzi Scheme, Fails

"I was actually pretty clear but there are these troglodytes in the market that like to distort what whatever anybody says and they distorted what I said. What I said was that if you look at the turnover in the major futures and options markets, and the clearing volume in the London dealer market in gold and silver, you would see that there are 100x times as many ounces trading in those derivatives markets as is produced by mines and refineries every year and used and purchased by fabricators and investors. So that's a 100 to 1 ratio of derivatives to underlying physical new supply. It's not a 100 to 1 ratio of the turnover of the physical market relative to the futures or derivatives market because the physical metal will turnover 5, 6 maybe 8 times in any given year. But you do have a much larger derivatives market in gold and silver than you have a physical market, and that ratio is about 100 to 1."

Jeffrey then proceeds to once again ignore the underlying issue, and highlights other massively diluted ponzi construct markets in which there is a discrepancy between physical and derivatives.

The Latest Gold Fraud Bombshell: Canada's Only Bullion Bank Gold Vault Is Practically Empty

Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA's Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty.

From The Mail Box: AIG Goes Parabolic As Repo Desks And Prime Brokers Pull Borrow And Force Short Covering

The "Same Manipulation Different Day" continues, as the powers that be run out of tricks to drive the market higher. Today: a well known and much abused trick to prevent market drops in desperate situations: forced covering in fins.

The Annotated Opus Dei Goldman Squid

Some have taken the high road and present a point by point rebuttal (also here) of Goldman's "come to god" epistle. We think that is unnecessary: everybody with 3 neurons and an axon between them can read between the lines of this fake attempt by the squid to avoid acknowledging any blame for anything that may have happened in the past decade, and provide justification for why Goldman is a worthy recipient of billions in taxpayer money even thought it never needed it... Oh and also how Goldman doesn't front run anyone (not even those who are its clients and sign off a permissive waiver or are embedded within the Matrix itself courtesy of the Redi product suite).

The Annotated Opus Dei Goldman Squid

Some have taken the high road and present a point by point rebuttal (also here) of Goldman's "come to god" epistle. We think that is unnecessary: everybody with 3 neurons and an axon between them can read between the lines of this fake attempt by the squid to avoid acknowledging any blame for anything that may have happened in the past decade, and provide justification for why Goldman is a worthy recipient of billions in taxpayer money even thought it never needed it... Oh and also how Goldman doesn't front run anyone (not even those who are its clients and sign off a permissive waiver or are embedded within the Matrix itself courtesy of the Redi product suite).

If Volume = Crap, Then Buy, Buy, Buy