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To: Bill/WA who wrote (67901)	8/21/2007 5:51:22 PM
From: benwood	Respond to of 116555

Bill, that isn't my position. I was referring to a gold ETF where they, in all likelihood, have the gold they say they do in a vault. But history and today is littered with examples of fraud -- how can one be 100% sure the gold is really there in the GLD vaults if the S hits the Fan? I think it will be, but in looking at the far ranging and slimy tentacles of the subprime scams, it's easy to see how surprises could be forthcoming in just about any arena in this era of public/private shakedowns galore. Physical gold generally and loosely maintains its buying power over the ages. You don't earn any income on it, and if you keep it safe, you pay for storage. The fees for interchange to/from the local currency are non-trivial. Yet at many times in history, it has been the place to be. The last few years are a good example. 1980 until then it totally sucked.