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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (151784)	11/25/2019 5:55:07 AM
From: Horgad	1 Recommendation Recommended By ggersh Read Replies (3) \| Respond to of 219660

Hmm...HSBC USA is the custodian of GLD which I believe is the largest gold ETF on the US exchanges. So it is backed by "gold" held by HSBC. If I read that right, HSBC Hong Kong is no longer accepting their own paper gold for use as collateral? That can't be good. "The SPDR? Gold Trust, or the Trust, issues SPDR? Gold Shares, or the Shares, which represent units of fractional undivided beneficial interest in and ownership of the Trust. World Gold Trust Services, LLC is the sponsor of the Trust, or the Sponsor. BNY Mellon Asset Servicing, a division of The Bank of New York Mellon, is the trustee of the Trust, or the Trustee, HSBC Bank USA, N.A. is the custodian of the Trust, or the Custodian, and State Street Global Markets, LLC is the marketing agent of the Trust, or the Marketing Agent. The Trust intends to issue additional Shares on a continuous basis through its Trustee. The Trust is not a commodity pool for purposes of the Commodity Exchange Act of 1936, as amended, and its sponsor is not subject to regulation by the Commodity Futures Trading Commission as a commodity pool operator, or a commodity trading advisor. The Shares trade on NYSE Arca, Inc., or NYSE Arca, under the symbol “GLD.”" spdrgoldshares.com A long time ago I and other hypothesized that the end may be marked by the quoted price of paper gold disconnecting from the price of physical (IE watch the premiums for physical). So with these ETFs you may end up being cashed out not only at a bad time, but at a price significantly lower than the current price of the physical. Some fractional amount depending on who can actually get their hands on the actual gold that may be claimed multiple times.