GLD Deception Reaches a New Level

Wed, Jul 17, 2013 - 5:55pm

Just as Westley asked Fezzik, "Look. Are you just fiddling around with me, or what?".

My contempt for the GLD and its Authorized Participants is well-documented. I have no doubt that this sham vehicle was expressly created to siphon demand for actual bullion and provide a readily-accessible inventory of metal for the Bullion Banks to "flywheel" whenever and wherever conditions warranted.

Since the first of the year, the GLD "inventory" is now down over 30%, having fallen from 1,350 metric tonnes to today's 936. The shills of the sell-side firms and the dupes in the financial media proclaim that this liquidation is due to heavy investor "selling and reallocation" away from precious metal. Of course, the fact that the comparable silver ETF, the SLV, is UP in inventory by 140 tonnes matters little. The narrative must be forced down your throat in order to provide the banks the continued cover that they require.

And then you get days like today and yesterday, where the banks let their guard down. Did they mess up and accidentally show their true motives OR do they just simply not care anymore, preferring to thumb their collective noses at all of us who are screaming "fraud" and "sham"?

Why do I say this? Check this out.

Yesterday, the GLD reported another drawdown. (Even though price had risen by over $40 since last Thursday...but I digress.) Yesterday's "inventory reduction" wasn't significant compared to some of the drops we've seen this year, it was reported at just 1.50 metric tonnes. The only thing that caught my eye was the round number of 1.50. That seemed strange so I made a mental note and moved on.

Today, the GLD reported another drawdown and this one really got my attention because...drumroll, please...the amount reported was another 1.50 mts. Exactly, right on the nose. Drill down even further and it gets more hilarious:

Monday GLD: 30,192,195.27 troy ounces

Tuesday GLD: 30,143,884.76 troy ounces

This is an AP withdrawal of 48,310.51 ounces. (As an aside, how the heck do you account for the extra 0.51 ounces anyway? Doesn't that seem strange, too? But, again, I digress.) Now check this out:

Tuesday GLD: 30,143,884.76 troy ounces

Wednesday GLD: 30,095,574 troy ounces

This an an AP withdrawal of 48,310.04 ounces.

Seriously, we're supposed to believe that paper gold went up $6.90 yesterday and fell by $12.90 today, all the while the exact same number of shares were tendered each day leading to the exact same physical withdrawal. As they say, "I might have been born at night but it wasn't last night". Exactly 48,310 ounces for two days in a row? Seriously?? Give me a break! Are you just fiddling around with me or what?!?

This is all a huge sham, scam and joke. Can there be any remaining doubt that folks like Maguire, Sprott and Williams are correct? Decades of leasing and rehypothecation have left physical gold in such short supply that a crisis has developed within the fractional reserve bullion banking system. Absent available physical gold to deliver immediately to hungry Eastern buyers, The Gold Cartel Bullion Banks have been utilizing the current price weakness to raid the GLD for every possible ounce. Further proof of this extreme physical tightness is seen in the negative GOFO rates, which have now remained negative for a record-shattering eight, consecutive days.

This charade will soon end in spectacular fashion. Please continue to accumulate physical metal, as much as you deem prudent, while you still can.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 18, 2013 - 9:10am

Adrian Ash On Gold, Interest Rates & Inflation

Just why do people choose to buy gold and silver? The answer from a quick survey of BullionVault users last week couldn't be clearer:

Inflation. Or rather, the erosion of money's purchasing power.

Jul 18, 2013 - 9:01am

I have completely given up on the tracking thing

because I am so sheepishly shallow and love technology and use my phone to buy coffee. I think the thing to do is be conventional with enough things that you can be unconventional without much notice.

edit to add: in terms of being clueless, we are hopelessly immersed in their culture. I just meant it was as if you had suggested going bicycling without a bike. Why would you go to New York if you didn't have a skateboard was his look. I had a sort of uncle who was a total foodie before there were foodies, and once when planning a trip to France he was heard to say, "What the fuck is in Marseilles?", because they didn't have a fabulous restaurant or wine.

Jul 18, 2013 - 8:51am


Lots of good posts here during the wee hours, at least from my point of view.

@Magpie-Good article about the exposure of US troops to radiation, but your link wouldn't work for me. I tried to access www.stripes .com through other articles and it appears to be down. Is this random, everyday internet trouble, or deliberate action by the government? Here are a couple links that worked for me.

@Karankawa-Good video on Glenn Beck. I have never been able to understand his popularity. I have a friend who literally worships him. Everything he comes out with as revelation, I have known for days, weeks or even years.

I urge every Beck supporter to watch this video, which I will repost here.

Video unavailable

I have some issues with Alex Jones, but he has done way more good than Beck will ever do. IMO, Beck is nothing but a tool of TPTB.

On the lighter side, The Monkey King.

Real Life Assassin Creed : Jyoti Raju
Jul 18, 2013 - 8:50am


can't use Oyster cards unless they purchase them from their country (name, address details etc have to be given so they too will be tracked when they get here) in advance of their journey.

If they haven't registered in advance and decide to use cash they get totally ripped off by the cash-only prices.


By the way, London Underground is privately owned - by the corporation "Transport for London". They truly are spying on the movements of people who use public transport (that's millions every day in London), just as the NSA are spying on people's communications.

If you choose not to be tracked you are ripped-off by the huge surcharges for using cash.

Howard Roark
Jul 18, 2013 - 8:45am

China´s signals

We can find some of these titles on MSM. But we need a lot of digging!

Yuan backed by gold, hypothesis:



Howard Roark
Jul 18, 2013 - 8:42am



Of course he would take the sk8! Try to watch an old (well, from the late 80´s early 90´s) sk8 movie: The Bones Brigade. You´ll be less clueless! And that´s not a joke on the assignment to impress through dancing!



Jul 18, 2013 - 8:35am

Here is Bollocks.....

After finding out he had to pay a 300% surcharge for cash.

Jul 18, 2013 - 8:34am

To answer the important question

yes, Mikey did take his sk8board @ New York, and when questioned by his father as he grabbed it on his way out the door, given that actually there is a demanding dance contest for aforementioned girlfriend and an entire other family that he should want to impress mightily on this trip too, he just said with that loving contempt that only youth can have, "Dad, I'm going to New York. Of course I am taking my skateboard."

We are so clueless.

Jul 18, 2013 - 8:29am

My first experience with the dollar coins

My wife and I had to switch cars yesterday. Being the good guy that I am, I decided to fill up her mini van with gas and get it washed while I was out. The car wash was $10 and it was one of those automated attendants. I put a $20 bill into the machine, selected my wash, and out popped 10 of the worst coins I have ever held. The machine gives change in dollar coins.

If you have ever needed a fitting symbol of an empire in decline, that is it. Those coins are just awful. I had this sinking feeling that I had just been given Chuck E. Cheese Tokens.

When I got home, I took out a Morgan Silver Dollar and one of those dollar coins and handed them both to my wife. She was amazed at the stark representation of how debauched our money has become.

Those coins are a perfect representation of the people that authorized them; pieces of shit!

Howard Roark
Jul 18, 2013 - 8:25am


Right on!

Well, no inflation here. Move on.

As to the BigBrother tactics: that´s it! So they can follow what people do and where they go. It´s like any citizen is a terrorist or wants to kill a brazilian tourist in the subway... right.


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