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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 683.04

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Dec 9 4:00 PM EST

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To: GROUND ZERO™ who wrote (23938)	8/21/2011 9:42:00 PM
From: Wayners	5 Recommendations Read Replies (2) of 219848

It wouldn't be good, that's for sure. There would be the equivalent of a bank run on the ETFs similar to 1933. If the ETFs couldn't make good or you saw even a single ETF on the brink of insolvency or you see the Federal Reserve step in to take over any Gold ETF like they did with Long Term Capital Management (I think that was the name of the hedge fund), there will be the equivalent of a bank run on all the precious metal ETFs. Our own Govt and the Federal Reserve did the same thing back in the 1920s with the dollar supossedly backed by Gold...but they printed a lot more notes than they had Gold backing it and thought nobody would notice. They noticed alright when there was a run on banks with people demanding Gold for their Govt issued paper. The banks didn't have the Gold, neither did the Commercial Banks to supply to the smaller banks, and the Federal Reserve didn't have it either. When it became obviously apparant that the Govt was caught in a scam, they pulled another scam to cover the first scam. FDR came on the radio and didn't own up to the first scam, instead he claimed the reason why there was a run on the banks is because of evil Gold hoarders in the general populice!!! Imagine that! Then he set about to confiscate it, providing payment in fiat paper at $29 per ounce and once he got all the Gold that people would willingly turn in, he raised the price overnight to $35. A tidy sum from all the cons and scams! People are just as stooopid as they were back then, with all their FDR worship. Fools, fools and more fools!!!

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