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<p>[QUOTE=&quot;Cloudsweeper99, post: 685542, member: 3011&quot;]&quot;In fact, the gold and silver being promised as backing for the holders of ETF shares <b><i><u>may</u></i></b> be the same gold and silver that is used to back COMEX futures contracts.&nbsp; The ETF&#039;s <b><i><u>may</u></i></b> well be leasing their gold and silver to the COMEX, which <b><i><u>may</u></i></b> then be handing it out to settle COMEX physical demands for delivery.&quot;</p><p><br /></p><p>I copied the above out of the article with my emphasis.&nbsp; Note that the allegations are stated as possibilities, not probabilities or as facts.&nbsp; If you read the GLD perspectus [yes, I read it], there is absolutely nothing in it to even hint at the presence of derivatives in the GLD portfolio.&nbsp; Bob Chapman doesn&#039;t provide a shred of evidence that his assertions are true.&nbsp; It is very easy to make unsubstantiated claims like this and sound profound.&nbsp; If this turns out to be true, it will be a major news story.&nbsp; If Bob Chapman has any evidence to back his statements, he should turn it over to the SEC.&nbsp; Otherwise, this is just another doom and gloom newsletter.</p><p><br /></p><p>Edit: Additionally, nobody has ever lost even the smallest quantity of a physical asset stored in a Comex warehouse in its history.&nbsp; Naturally, the assets fluctuate in value, but they have always been secure.&nbsp; The assertion that the gold and silver stored there might not be there is another unsubstantiated claim.[/QUOTE]</p><p><br /></p>

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