Loading ...The bankers made it very convenient and simple for people to buy and or sell, paper gold instead of physical gold. The buyers were “used” like a tool.
So the little people that bought GLD actually GAVE their money, a free loan, to the GLD managers (banks) so THEY could buy the Gold, and store it, with the “turkeys” money. The same USA turkeys that gleefully buy imported products.
So when the media told us “banks are buying gold” it was a half truth. They were buying it for GLD with “turkey’s” money, not THEIRS. And when the NON gold bug turkeys got scared, they sell GLD shares, and push the price down, and the Banks that hold LOTS of GLD can redeem shares for bullion on the cheap side.