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Re: Very important doc on SLV and GLD... 

By: monkeytrots in CONSTITUTION | Recommend this post (1)
Sun, 07 Aug 11 9:45 PM | 39 view(s)
Boardmark this board | Constitutional Corner 		Msg. 14277 of 21975
(This msg. is a reply to 14271 by DueDillinger)
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However, was there a material omission under securities law?

That is actually a rhetorical question.

Of course there is thieving going on.

The commodities markets are even more crooked than the securities markets - because they are more thinly traded and more easily manipulated. That is not 'from me' - it is from a person I am aquainted with who is a whiz at commodities - and can out-trade the freakin' BIG TIME crooks - and has done so on a routine basis.
Crooked ? Beyond even a shadow of a doubt.




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Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good ...


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The above is a reply to the following message:
Very important doc on SLV and GLD...
By: DueDillinger in CONSTITUTION
Sun, 07 Aug 11 4:47 PM 		Msg. 14271 of 21975

This article was inspired by a conversation in January 2010 with fellow directors of the Gold Anti-Trust Action Committee: Chairman Bill Murphy, Secretary/Treasurer Chris Powell, and Directors Adrian Douglas and Ed Steer. In speaking about the growing role of the exchange traded funds in the precious metals market, it was clear that the disclosure that the precious metals ETFs described below were providing to investors was inadequate. However, was there a material omission under securities law? I found the issues complex. Understanding the commodities markets can seem daunting to someone like myself with a securities background. Meanwhile, the securities markets and related legal and regulatory issues can be unfamiliar to those with a background in commodities. I decided to ask my attorney to help me gather the relevant information into one document to make it easier for GATA supporters and other interested parties—whether from the commodities or securities markets—to examine these issues and to better understand and price these securities.

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Investors deserve a clear picture of what they are buying so they can make informed decisions about whether they want to buy and at what price. We believe the disclosures regarding GLD and SLV are inadequate. Given the conflicts of interest of the Custodian banks and the general state of standards and ethics within the bullion banking community, we believe the market discounts of GLD and SLV to silver and gold melt value are more than warranted. At best, GLD and SLV are simply a bank deposit priced in spot prices without the benefit of government deposit insurance. At worst, GLD and SLV are vehicles by which investors provide the banking community with the resources to control and manipulate the precious metals market without adequate compensation.

http://solari.com/articles/Precious_Metals_Puzzle_Palace/

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