SLV is NOT silverJPMorgan and HSBC, the same banks shorting gold and silver, the samebank defrauding mortgage holders, are the custodians of the GLD and SLVETFs. You cant trust them with mortgages, but you want to trust themwith your gold?
Gold is rising because of financial chaos. Whenthings get really bad, would you rather trust the banks that caused thisfraud and destruction? Or would you rather have your own gold andsilver?
GLD and SLV are the means used to keep silver and gold down,by deflecting demand from real gold and silver, and allowing smallinvestors the privilege of buying gold and silver FOR JPMorgan and HSBCas they are the 'AUTHORIZED PARTICIPANTS'. RUN FROM GLD AND SLV!!!!!
Earlier we learned the Bank for International Settlements was getting gold from 'unallocated' gold accounts.
Nowthe BIS has more gold on its balance sheet. Wonder where it got it fromthis time? Not from people who buy Gold instead of GLD.
For some strange reason, GLD is losing gold, as the price is rising. Harvey Organ reports
In other physical news, again we see GLD removing gold from its inventory.
From John Brimelow:
The GLD ETF, in its perverse way, actually reported losing 2.12699 tonnes to 1,285.19960 tonnes.
I can assure you that demand for gold is rising as we witnessed a huge runnup today to almost $1387. per oz.Thusthe removal of gold from the GLD is not for lack of demand. This goldis being removed and going to other destinations, probably to the LBMAwho are having massive problems in the delivery process.The BIS is again active in the gold market similar to the swap with bullion banks 6 months ago (reported two months ago):
Here is this commentary from Zero Hedge:
BIS taking in more gold - who are the counterparties this time?
TheBank of International Settlements hit the headlines earlier this yearwhen it was discovered that its gold holdings had soared, now it appearsthey are on the increase again