I also remember there was a highly publicized visit by CNBC's Bob Pisani to GLD's gold vault. This visit was organized by GLD's management to prove the existence of GLD's gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this "GLD" bar was actually owned by ETF Securities.
Simple I always see you making claims on GLD's gold holdings but I still have not seen any verifiable evidence to support any of it. 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.
Thank you for this thought provoking piece Craig. The discussion around liability of autonomous car accidents have been especially interesting. There is no doubt in my mind that accidents will go down as autonomous cars already have a superior driving record to human drivers. The shift of liability from driver to manufacturer is also interesting. Will drivers have the need to insure themselves anymore? Food for thought.
Very insightful analysis, thanks Taki. I also use copper as a barometer for economic health alongside activity within the transportation sector. There have been some jitters in the trend of both sectors so I'm not expecting a strong bullish push up anytime soon.
The telecom sector moving three places higher makes quite a bit of sense. In this day and age, communication and the internet is critical to the infrastructure of every developed country. This is true even during bear markets.
Thank you for your insights into this gem Jim. The balance sheet of Everi has been looking very robust. I'll have to keep my eye on Everi until I've completed my due diligence into their future prospects.
"To be honest, it is not an impressive result because, for example, GLD gold holdings went up by 29.6%!"
Again, I see you making assertions on GLD's holdings but I don't know how much I'd trust this data. Paper gold GLD claims to be fully backed by physical gold bullion but yet it refuses to give your everyday investors the right to redeem for any of these ‘claimed’ gold bullion. This fact alone would mean GLD shares are nothing more than paper at the end of the day. 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.
Furthermore, GLD’s prospectus is chalk full of weasel clauses and legal loopholes that allows the fund to get away without the full physical gold backing. One good example of this is the clause that states GLD has no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this audit loophole.
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$KO has been one of the most resilient companies in existence and in times like this, they are performing as expected.
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Thank you for your insights Norman. I completely agree with your sentiments regarding the relationship between employment and inflation targets.
Is Gold Breaking Above $1,300 Per Ounce?
I also remember there was a highly publicized visit by CNBC's Bob Pisani to GLD's gold vault. This visit was organized by GLD's management to prove the existence of GLD's gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this "GLD" bar was actually owned by ETF Securities.
Is Gold Breaking Above $1,300 Per Ounce?
Simple I always see you making claims on GLD's gold holdings but I still have not seen any verifiable evidence to support any of it. 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.
Autonomous Cars - Issues Yet To Be Addressed
Thank you for this thought provoking piece Craig. The discussion around liability of autonomous car accidents have been especially interesting. There is no doubt in my mind that accidents will go down as autonomous cars already have a superior driving record to human drivers. The shift of liability from driver to manufacturer is also interesting. Will drivers have the need to insure themselves anymore? Food for thought.
How High Can The Price Of Copper Rise In 2017?
Very insightful analysis, thanks Taki. I also use copper as a barometer for economic health alongside activity within the transportation sector. There have been some jitters in the trend of both sectors so I'm not expecting a strong bullish push up anytime soon.
Defensive Sectors At The Top
The telecom sector moving three places higher makes quite a bit of sense. In this day and age, communication and the internet is critical to the infrastructure of every developed country. This is true even during bear markets.
Everi Holdings - Chart Of The Day
Thank you for your insights into this gem Jim. The balance sheet of Everi has been looking very robust. I'll have to keep my eye on Everi until I've completed my due diligence into their future prospects.
What Is Going On With Silver?
"To be honest, it is not an impressive result because, for example, GLD gold holdings went up by 29.6%!"
Again, I see you making assertions on GLD's holdings but I don't know how much I'd trust this data. Paper gold GLD claims to be fully backed by physical gold bullion but yet it refuses to give your everyday investors the right to redeem for any of these ‘claimed’ gold bullion. This fact alone would mean GLD shares are nothing more than paper at the end of the day. 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.
Furthermore, GLD’s prospectus is chalk full of weasel clauses and legal loopholes that allows the fund to get away without the full physical gold backing. One good example of this is the clause that states GLD has no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this audit loophole.
What Is Asset Allocation For Everybody Else?
These charts have been particularly insightful, thanks Richard.