Thank you for your thoughts on this Lorimer. Snapchat was never really in a position to contest Facebook due to Facebook's immense leverage in the form of its massive user base. Facebook's user base is multiples of Snapchat which gives them much more of a pull in the competition for advertisers. Both of these companies are heavily reliant on advertisement revenue but Facebook holds a significant advantage here.
"GLD, decreased its holdings by 742.7 thousand ounces."
I frequently see you making these claims but I still have not seen any verifiable evidence to support any of these claims. How reliable are GLD's holding reports? GLD does not give retail investors the right to redeem for any of its mystery physical gold holdings. This fact alone ensures the GLD shares to be nothing more than paper at the end of the day. GLD also has a glaring audit loophole in their prospectus that states they have no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this backdoor to the fund.
For anyone interested but have not heard about CNBC's Bob Pisani's visit to GLD's gold vault, I recommend checking it out. His visit is documented in a segment called Gold Rush: The Mother Lode. This entire segment was organized by GLD's management to prove that their gold actually exists but the gold bar held up by Mr. Pisani displayed a serial of ZJ6752. This serial did not show up on the latest bar list during that time. Cheviot Asset Management’s Ned Naylor-Leyland discovered that this "GLD" bar actually belonged to ETF Securities.
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I think you've convinced me with your CNBC remark. I'm definitely not a fan of CNBC as a whole.
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Thanks for the quick update Leigh, this has been informative.
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Thank you for your thoughts on this Lorimer. Snapchat was never really in a position to contest Facebook due to Facebook's immense leverage in the form of its massive user base. Facebook's user base is multiples of Snapchat which gives them much more of a pull in the competition for advertisers. Both of these companies are heavily reliant on advertisement revenue but Facebook holds a significant advantage here.
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"GLD, decreased its holdings by 742.7 thousand ounces."
I frequently see you making these claims but I still have not seen any verifiable evidence to support any of these claims. How reliable are GLD's holding reports? GLD does not give retail investors the right to redeem for any of its mystery physical gold holdings. This fact alone ensures the GLD shares to be nothing more than paper at the end of the day. GLD also has a glaring audit loophole in their prospectus that states they have no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this backdoor to the fund.
For anyone interested but have not heard about CNBC's Bob Pisani's visit to GLD's gold vault, I recommend checking it out. His visit is documented in a segment called Gold Rush: The Mother Lode. This entire segment was organized by GLD's management to prove that their gold actually exists but the gold bar held up by Mr. Pisani displayed a serial of ZJ6752. This serial did not show up on the latest bar list during that time. Cheviot Asset Management’s Ned Naylor-Leyland discovered that this "GLD" bar actually belonged to ETF Securities.
GBP/USD Bottom To 1.24?
Thank you Kathy for your continued coverage of the GBP/USD. This has been very informative.