Hi all,

I am not going to pretend to understand all of this but, I think I get the general jist.

Reg Howe basically has come out and said he sees evidence through the semi-annual report on gold derivatives by the B.I.S that GLD (the ETF) is now essentially acting like the Central Bank in that it leases gold as a mechanism to supress gold price. Probably to help slow the amount of gold deliveries as well.

I think every one should look at this though. Maybe there are a couple of people here who can decode this column better than I.

Deno G.

http://www.goldensextant.com/commentary37.html