Thoughts on GLD

The biggest news for bullion aficionados this week was the announcement that recidivist criminal, commercial bank JP Morgan will begin acting as co-custodian for the world’s largest unsecured gold ETF typical called by its ticker symbol GLD. So now JP Morgan will not only be the custodian for the world’s largest unsecured silver ETF slush fund called SLV, but it will also become a major overseer of the world’s largest unsecured gold ETF charted here. If you are an advent follower of Gold or Silver ETF’s you have to find this entire thing absolutely comical or downright sad. Then again what can we expect in 2022.

The top portion of this chart illustrates that unsecured #GLD shareholders continually lose annual 0.4% fees to the fund, diverging and further underperforming the ongoing“>d spot price as time progresses. GLD shareholders are unsecured creditors. They only own price and counter-party risk, not an ounce of gold bullion. In a bankruptcy scenario, they might get a few pennies on the dollar or perhaps nothing at all. The only entities that can redeem unsecured underlying 400 oz https://www.spdrgoldshares.com/media/… It’s jammed full of ‘not our liability’ loopholes which can be boiled down to the simple image we used for this week’s screencap. JPMorgan to share GLD custody with HSBC: https://www.reuters.com/markets/commo… #Platinum Deficit Forecasts by WPIC https://www.reuters.com/markets/commo… & https://www.miningweekly.com/article/… LBMA Webinar on Massive Silver Supply Deficits & Why Spot Prices Have Yet to React to the Upside – These are our thoughts on GLD. https://player.vimeo.com/video/775856591

Disclaimer:

We are not financial advisors, nor do we claim to be. These are statements based on our opinion and research. Investing causes risks and may cause the buyer to lose their entire investment.