Loading ...I believe its a scam, but not that there is no real gold. I think the scam is that millions of little people that buy GLD to have and to hold, unwittingly put up all the money to have gold on hand for banks and gov’ts and maybe even to help make deliveries for COMEX in emergency situations.
Kind of like the old days and bank deposits. The banker knew not everybody would withdraw their funds, so they could lend out some of the inventory. Before those days there were gold smiths where people would deposit their gold and get a warehouse receipt.
The “goldsmith” or what ever they were called, knew for certain the same thing, there would ALWAYS be inventory, so they loaned out Gold “receipts” to people that did not have any gold stored there, to be paid back with interest. Which was the start of I guess gold backed paper money.
In the next emergency, TPTB may NOT have to confiscate Gold from people. (but they already did get gold from SOME people with GLD) to re-start the game. Its a strange coincidence, that the entire global economy was slowing after the 2008 crisis even though TPTB kept dropping rates globally, and blowing bubbles.
We had the everything bubble, Stocks bonds and real estate. The USA prosperity in my opinion was artificial. A lot of lower taxes and less regulations and more gov’t spending and tax incentives, and tons of hype and jaw boning. There is no prosperity in the USA until a 19 year old can buy a new car with a three years loan. We had none of that so hence, no real recovery. Simple. imo of course.
I have been telling relatives around me for two years now that the US economy was not really in recovery, and system was going to crash, its all “too good to be true”. Back in the middle of the ’08 crash, I was telling them, we hit bottom, we can’t lose anymore, and TPTB have to give the USA economic priority to lead the rest of the worlds economies, like 1945 all over again and everything was going to get better, and it did. “It was too bad to be true”.
Things did get artificially better during Obama, but too little late and too slow until Trump got elected. They went into speed up panic mode. They actually reversed the first reversal. No more time now. But the virus, versus a big bankruptcy to spark the crash, is a very strange coincidence, and some people say…”Nothing is a coincidence”. 🙂
I remember seeing this on TV around when Gold was around $1800, March 18 2012, it was all over the news. CNBC had a video, Bob Pisani being driven the secret location of GLD storage warehouse near London.