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<p>[QUOTE=&quot;Juan Blanco, post: 1592600, member: 41665&quot;]Exactly! That was the clear subtext - and long-discussed point, at least as far back 2009 - for the unaudited &quot;German Gold&quot; purportedly held in the NY Fed. We&#039;ll see how that plays out, eventually.</p><p><a href="http://www.silverdoctors.com/german-calls-for-gold-repatriation-intensify-as-fed-refuses-to-allow-inspection/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.silverdoctors.com/german-calls-for-gold-repatriation-intensify-as-fed-refuses-to-allow-inspection/" rel="nofollow">http://www.silverdoctors.com/german-calls-for-gold-repatriation-intensify-as-fed-refuses-to-allow-inspection/</a></p><p><br /></p><p>I believe there&#039;s Gold in the NY Fed vaults,&nbsp; but conflicting claims mean someone - perhaps LOTS OF someones - will be left holding paper promises and nothing but. Some Gold bugs suppose that revelation will be the Zero Hour, when decades of accounting chincanery comes down to a game of musical chairs ... and POG does its inevitable moonshot. </p><p><br /></p><p><br /></p><p>GLD is a share-scheme. WorldGold Trust Services, LLC is the sponsor of the Trust, BNY Mellon AssetServicing is the trustee of the Trust, HSBC Bank USA, N.A. is the custodian of the Trust, and StateStreet Global Markets, LLC is the marketing agent of the Trust, or the Marketing Agent. Retail share investors have no claim whatsoever to the underlying Gold; GLD is therefore a synthetic instrument, not even a factional &#039;investment in Gold.&#039; </p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>Because the prospectus reaffirms many times the Gold is enitrely subject to LBMA (English) authority. The prospectus clearly states </p><p><br /></p><p><br /></p><p><br /></p><p>Just as Gold held in Switzerland is Swiss Gold, US investments in GLD don&#039;t count as American Gold ownership. That&#039;s the London cartel&#039;s Gold - no one else&#039;s.</p><p>(Even IF we <i>might </i>consider that &#039;PM allocation&#039; in US investment portfolios, GLD remains something of an accounting fiction.)[/QUOTE]</p><p><br /></p>

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