The issue of whether the gold and silver is really there, or partially or even mostly gone, is one that outweighs all others. I'm talking about sovereign entities as well as the exchanges and ETFs. That is the 800 pound gorilla in the room. Recent press about Gordon Brown's upcoming testimony insinuates the possibility that England was only the tip of the iceberg - the visible disenfranchisement. So does Christian's paper vs physical ratio testimony re: the exchange.

Just keep this in mind. If there isn't unencumbered gold in Ft Knox and West Point equal or nearly equal to that claimed, and if each physical oz of ETF gold and silver is owned by more than one entity, etc., we will find out shortly. Because Rooseveltian confiscation would solve that problem.