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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (32235)	11/11/2004 5:58:04 PM
From: ild	Read Replies (1) \| Respond to of 39344

Absolutely. UN-LI-MI-TED. In my previous post I referred to IPO process. As usual it will start trading with some 6% premium which will later become nil. I expect CEFs premium to become much lower as new ETF would have lower expense ratio.

To: jrhana who wrote (32235)	11/11/2004 7:51:23 PM
From: The Vet	Respond to of 39344

Unlimited, also probably means unlimited short selling of ETF shares. Unfortunately that means that the real coverage of physical will only average 1/20 ounce, or less, per trading share (still 1/10 per issued share) but short selling effectively doubles (or more) the float by an unknown number of unbacked, unissued and unregistered shares which then trade undistinguished in the market with ZERO gold backing. This situation is of course the same for all stocks and makes a mockery of the SEC rules about disclosure of issued numbers of shares, registration of shares before sale, regulations on disclosure of control positions, distorts and diminishes shareholders voting rights etc. but it all happens with the blessing of the SEC and the complicity of the DTCC, DTC etc.