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To: Myrddin; dennisw

“Much of the gold sold of late has been a paper promise. If you don’t have the gold in hand, you may have nothing but an empty promise.”

EXACTLY!....the only way to own is physical gold/silver...why accept a piece of paper from some guy you never met saying gold you’ve never seen is ‘stored’ some place you’ve never been?


15 posted on 04/10/2010 4:45:45 AM PDT by STONEWALLS
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To: STONEWALLS; Myrddin

Gold and silver ETFs are big paper promises. I would only deal with them short term. You hear of John Paulson who made 4.3 billion betting on areal estate implosion. He got into gold in a big way via the gold ETF. Then he had second thoughts and said to that ETF, “I want my gold holdings in verifiable physical bars held in a segregated vault”

The ETF accommodated him because he is a big shot who brought them good publicity. Paulson has a few hundred million in gold probably more. Some may be his hedge fund holdings.

FROM MAY 2009——>>>
Paulson & Co., the hedge-fund firm run by billionaire John Paulson, increased its investment in gold and gold-mining shares in the first quarter, according to a regulatory filing.

As of the end of the first quarter, Paulson was the largest holder of SPDR Gold Trust, an investment fund that buys gold bullion. The New York-based firm owned 8.7 percent of the fund, valued at $2.8 billion as of March 31, according to a filing with the U.S. Securities and Exchange Commission.

That position was established as a hedge, the company said in a statement, because its funds have a share class that is denominated in gold rather than in dollars or euros.


20 posted on 04/10/2010 5:34:58 AM PDT by dennisw (It all comes 'round again --Fairport)
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