http://kingworldnews.com/kingworldn...F_Tells_Customers_You_Cant_Have_The_Gold.html
Today one of the most highly respected fund managers in Singapore shocked King World News when he said that custodians of the ETF GLD have refused to give people physical gold in exchange for the shares. Grant Williams, who is portfolio manager of the Vulpes Precious Metals Fund, also warned that the massive and escalating paper claims on physical gold at the COMEX warehouse are going to create an explosion in the price of gold. Below is what Williams had to say as KWN readers around the world take another trip down the rabbit hole.
Eric King: "Grant, I wanted to ask you about paper claims on gold. They have reached another new all-time high. I think when you wrote (on KWN) about this initially it was around 42 to 1 (42 claims for every ounce of physical gold that exists). I think we have now surged all the way up to 54 to 1."
Williams: "Yes, we're up around 55 now, Eric. We've seen the gold being drained out of the COMEX almost non-stop this year, certainly since the Bundesbank repatriation request. So, to see the claims mounting is no real surprise....
http://kingworldnews.com/kingworldn...ir_Gold_Out_Of_GLD_As_Inventories_Plunge.html
On the heels of a viral King World News interview with Singapore fund manager, Grant Williams, where he exposed the fact that GLD is telling customers, "they can't have the gold," KWN also reached out to 42-year market veteran John Hathaway to get his take on these dramatic events which have transpired. Hathaway had a powerful take on what has unfolded and he also spoke about the enormous implications as this massive run on physical gold continues. Hathaway, of Tocqueville Asset Management L.P., is one of the most respected institutional minds in the world today regarding gold, and his fund was awarded a coveted 5-star rating.
Eric King: "John, I know you have seen today's interview with Grant Williams, but I don't think people around the world understand what's happening with GLD. People have tried to get their gold out of that ETF and you just can't get it."
Hathaway: "That's right. If you are, say, Goldman Sachs or JP Morgan, or one of the big bullion dealers, you can exchange shares for gold. And it's just an arbitrage game for the dealers.
But if you are not within that system, and you have 100,000 shares of GLD, it's like pulling teeth trying to get physical gold out of that ETF....
Gives weight to the following mantras:
if you don't hold it, you don't own it
keep your wealth out of the banking system
blondes have more fun
Today one of the most highly respected fund managers in Singapore shocked King World News when he said that custodians of the ETF GLD have refused to give people physical gold in exchange for the shares. Grant Williams, who is portfolio manager of the Vulpes Precious Metals Fund, also warned that the massive and escalating paper claims on physical gold at the COMEX warehouse are going to create an explosion in the price of gold. Below is what Williams had to say as KWN readers around the world take another trip down the rabbit hole.
Eric King: "Grant, I wanted to ask you about paper claims on gold. They have reached another new all-time high. I think when you wrote (on KWN) about this initially it was around 42 to 1 (42 claims for every ounce of physical gold that exists). I think we have now surged all the way up to 54 to 1."
Williams: "Yes, we're up around 55 now, Eric. We've seen the gold being drained out of the COMEX almost non-stop this year, certainly since the Bundesbank repatriation request. So, to see the claims mounting is no real surprise....
http://kingworldnews.com/kingworldn...ir_Gold_Out_Of_GLD_As_Inventories_Plunge.html
On the heels of a viral King World News interview with Singapore fund manager, Grant Williams, where he exposed the fact that GLD is telling customers, "they can't have the gold," KWN also reached out to 42-year market veteran John Hathaway to get his take on these dramatic events which have transpired. Hathaway had a powerful take on what has unfolded and he also spoke about the enormous implications as this massive run on physical gold continues. Hathaway, of Tocqueville Asset Management L.P., is one of the most respected institutional minds in the world today regarding gold, and his fund was awarded a coveted 5-star rating.
Eric King: "John, I know you have seen today's interview with Grant Williams, but I don't think people around the world understand what's happening with GLD. People have tried to get their gold out of that ETF and you just can't get it."
Hathaway: "That's right. If you are, say, Goldman Sachs or JP Morgan, or one of the big bullion dealers, you can exchange shares for gold. And it's just an arbitrage game for the dealers.
But if you are not within that system, and you have 100,000 shares of GLD, it's like pulling teeth trying to get physical gold out of that ETF....
Gives weight to the following mantras:
if you don't hold it, you don't own it
keep your wealth out of the banking system
blondes have more fun
