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To: yard_man who wrote (219300)	2/6/2003 3:10:37 PM
From: Tommaso	Respond to of 436258

They are backed by gold and silver bullion that is in Canadian bank vaults, and in addition, those bullion deposits are insured. It seems unlikely that the Canadian government would allow the fund to continue to operate, as it has for many years, if there were any question about the reliability of the fund's management, the banks, and the insurers. Until the shares began selling for more than they were worth, it was a good thing. At a 20% premium, it's a foolish thing to buy or even to continue to own. As I said, I just tried to sell it short. The advantage of buying it, at a fair price, is that there are no storage fees, no bullion transaction fees, no fabrication fees, no shipping or insurance fees, and none of the risk of buying, holding, and selling physical gold yourself. All these expenses can eat up 10% or more of value of your gold.