tag:blogger.com,1999:blog-6089228851855763774.post6431329110018810368..comments2024-02-05T17:24:09.663+08:00Comments on Gold Chat: GLD, leasing and encumbrancesBron Sucheckihttp://www.blogger.com/profile/00530576934994289879noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6089228851855763774.post-77187199939869274832012-11-09T09:19:23.103+08:002012-11-09T09:19:23.103+08:00There is one update I have to make to statement “T...There is one update I have to make to statement “Therefore if an Authorised Participant borrowed physical and delivered that to GLD, there would be no claim or encumbrance by the lender to the Authorised Participant on those bars held by GLD” which is after reading the prospectus in detail in reply to a comment by Victor I found that the APs can only deliver unallocated to the custodian, so my sentence is not correct. It is only the custodian who could possibly leased in specific physical bars and then allocate them to an ETF. <br /><br />I really doubt that anyone in the PM market lends specific bar numbers as I say in my article, but if that was the case it may only be a problem if the lending agreement made reference to the fact that the lender retains title to the bars (which can be specifically identified by bar number) and in that case the BB then allocating them to the ETF has given the ETF bars to which the BB does not have good title, so it would be defrauding the ETF.<br /><br />It is a possibility but so remote as I can’t see why any BB would accept such lending terms – they are too smart for that. And any lender insisting on such terms would be laughed at with the comment – “do you think we want to lease these bars just to look at them and then return the same bars back to you”?.Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-34534247125534373162011-07-24T19:56:26.746+08:002011-07-24T19:56:26.746+08:00David Morgan and ZeroHedge getting it wrong on thi...David Morgan and ZeroHedge getting it wrong on this issue http://kiddynamitesworld.com/today-in-silver-misinformation-david-morgan-swaplease-edition/Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-82128063414574750382010-10-08T08:42:30.392+08:002010-10-08T08:42:30.392+08:00See my comments at http://goldchat.blogspot.com/20...See my comments at http://goldchat.blogspot.com/2008/12/warning-on-existing-au-and-new-ag-pt-pd.htmlBron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-60957079093200614462010-10-08T00:16:33.311+08:002010-10-08T00:16:33.311+08:00do you know if the asx gold is in the same categor...do you know if the asx gold is in the same category as gld in US? I tend to buy the perth mint version on asx as I view it as saferAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-41780393306208742472010-08-24T18:50:17.064+08:002010-08-24T18:50:17.064+08:00He also says that gold has 'no utility'.
...He also says that gold has 'no utility'.<br /><br />Not a great record.Justinnoreply@blogger.com