There is a lot of truth in that article. But my preference is to follow Jim Sinclair's site for the real news that never gets talked about on the news or printed in the papers. He knows the truth as no one else does. Wall Street and the GSEs and the LBMA have papered over bullion gold to such an extent that they control or regulate the price of bullion. As Jim says, there is a new 800 pound gorilla in the room and they are not going to be swayed by the machinations that take place in New York, Chicago and London. A new world reserve currency is going to be established and gold will be an important part of it. And that gold will have to be audited once a year. The ETFs and especially the GLD are not audited and never will be because they only exist as a paper entity that possesses not one ounce of stored gold in bullion form. I believe that the price of gold is going up because there is very little physical gold available on the open market and demand continues to grow. All the paper tigers (ETFs) that have been created were put in place so that the paper players can join in the fun and ride the wave higher and then take their paper profits as they see fit. But as in all paper games, a day of reckoning comes along, as in 2008, and destroys any value there is in the paper world. So it is incumbent that the new world reserve currency gets put in place in a timely manner. Then, the true value of gold bullion will rise to the levels where it should have been all along.
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