Headline says it all. Even the Perps don't trust the ETFs to have bullion on hand. TPTB must be in desperate need for real physical Gold to begin accepting it as collateral. What a remarkable development. Another sign the squeeze is on and this is not limited to a scramble for Silver bars.

http://www.zerohedge.com/article/morning-gold-fixing-jp-morgan-accepts-gold-bullion-collateral-%E2%80%93-silver-backwardation-lead-sh

JP Morgan announced today that from now on they will accept physical gold bullion as collateral. This is a sign of gold’s further remonetisation in the global financial and monetary system. It may signal that JP Morgan is having difficulty in securing gold bullion in volume. JP Morgan is the custodian for many of the gold and silver exchange traded funds. They will not accept ETF trust gold as collateral.