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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Louis V. Lambrecht who wrote (20082)9/10/2003 7:39:55 PM
From: Wade  Read Replies (1) of 39344
 
Did you guys get chance to read the prospectus of "Equity Gold TRust" (GLD) filed by WGC under the name of "World Gold Trust Services, LLC" at EDGAR? I don't like the idea of "LLC" because WGC only invest $US 3 millions to operate such big business and not taking enough responsibilities.

Try this one:

sec.gov

You will find the risk factors include:

The operations of the Trust and the Sponsor depend on support from the WGC. This support may not be available in the future.

The Trust's gold may be subject to loss, damage, theft or restriction on access.

Gold held by the Trust may be uninsured.

Gold bullion allocated to the Trust may not meet the London Good Delivery bar standards.

The Trustee and the Custodian exercise limited or no oversight over the subcustodians who may hold the Trust's gold.

The ability of the Trustee and the Custodian to take legal action against subcustodians may be limited.

If the Custodian becomes insolvent, gold held in the Trust's unallocated gold account would
represent an unsecured claim against the Custodian, and the Custodian's assets may not be
adequate to satisfy a claim by the Trust.

Well, well, well...I prefer to keep my gold-eagles under my kitchen sink<GG>.
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