Very interesting discussion with regards to gold ETF's this morning on BNN....the timing is quite odd as well

I've been following Jim Sinclair for some months now. He recently appears to be attempting to make the case that all these paper gold contracts such as these ETF's maybe don't have all the physical gold required to back the ETF's. Now, this guy comes on BNN ....and states specifically....with regards to GLD anyways....that they do in fact have over 1000 tons of gold to back the ETF....the timing of this interview and the message he wanted to deliver is....well....quite timely.

He also discusses people wanting to own physical gold...comments that most people prefer to own the hastle free paper ETF's rather than take physical possession. IN discussing physical possession, he almost implies that people have some kind of fetish with being able to touch the gold. While the fact of the matter is that paper is just that....paper. Just because someone says it is backed by physical gold....well....trust becomes the issue. Who do we trust in these times when the powers to be tell us one thing one day only to retract the next.

Don't let these guys fool you.....if you want to own paper, you'd just as well own the $US. The lure to gold is to get away from a paper currency.

Just the way I see it