The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: The Vet who wrote (73481)	11/2/2006 8:32:32 AM
From: aknahow	Read Replies (1) of 110194

The ETF is not a mutual fund. It makes no decisions regarding the desirability of holding gold. The GLD etf does not go short gold nor does it go long. Ut only holds gold for the authorized participants who also need have no view on the pog but who simply are making money by delivering physical when they have sold shares short and can cover at a profit. Or they deliver shares at a price, in physical gold above the markets current discount. In short the decision is not based on balancing ones books or any books or even on a view o the price of gold, but rather on, can the premium or discount be exploited profitably.

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