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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Wade who wrote (16633)3/29/2010 11:19:17 AM
From: John McCarthy  Read Replies (1) of 48092
 
Wade - you guys have probably gathered all this up -

nonetheless -

So what has Christian attempted to do? Conflate the gold as defined in the periodic table with other forms of ‘gold’ such as GLD ETF gold, London LBMA OTC gold, Comex futures gold, etc. under the term ‘physical gold market’. Of course, such contorted logic is absurd. The ability of a piece of paper with the letters ‘G-O-L-D’ written on it, that can become worthless, is no more efficacious at providing protection of value than a piece of cardboard with ‘C-O-W’ written on it is efficacious at providing a gallon of milk.

seekingalpha.com

Note:

Here is Christian's (poor) attempt at an "Alan Greenspan"
obfuscationism ......

One of the things that the people who criticize the bullion banks and talk about this undue large position don’t understand what is the nature of the long positions of the physical market and we don’t help it; the CFTC when it did its most recent report on silver used the term that we use “the physical market”. We use that term as did the CFTC in that report to talk about the OTC market in other words forwards, OTC options, physical metal and everything else. People say, and you heard it today, there is not that much physical metal out there, and there isn’t. But in the “physical market” as the market uses that term, there is much more metal than that there is a hundred times what there is

seekingalpha.com
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