RE: RE: RE: RE: RE: CMA The portion of your message that shows demands a clarification from someone. After looking at it for 5 days, here is a response to your statement,,,,,
"The ETF world now calls the shots"
The responsibility for the volatility we are seeing in gold and silver is and should be assigned to the banks that are the custodians for the ETFs, 2 in particular:
GLD - SPDR Gold Shares - HSBC is the custodian
SLV - iShares Silver Trust - JPM is the custodian
Below find a link to an article regarding ETFs - Here's an excerpt from same.
Conflict of Interest
Big banks like JP Morgan and HSBC, not only act as custodians but are allowed to have short positions in the gold and silver market. As mentioned in Are the Banks Against You, both JP Morgan and HSBC have the largest known short positions in silver.
Chris Powell, secretary and treasurer of the Gold Anti-Trust Action Committee, says:
"[We] doubt the reliability of the major gold and silver ETFs ... [because] their metal can be borrowed by parties seeking to drive previous metal prices down, against the interest of ETF investors ... [these short] positions are not disclosed in the ETF prospectuses."
Not only do investors in ETFs invest in precious metals with unknown quality, and invest in precious metals without knowing if their shares are actually backed by gold or silver, they invest in precious metals stored by the same guys that short them.
https://seekingalpha.com/article/238043-precious-metals-etfs-beware-conflicts-of-interest