You are here
Alasdair Macleod: GLD and SLV are not havens against crisis
12:16p ET Sunday, May 12, 2013
Dear Friend of GATA and Gold:
GoldMoney research director Alasdair Macleod writes today about how his inquiry to the United Kingdom's Financial Services Authority produced an acknowledgment that the custodianship of the metal nominally held by the gold and silver exchange-traded funds GLD and SLV is not regulated by government.
As a result, Macleod concludes, there is enormous counterparty risk for GLD and SLV investors, in a financial crisis central banks more easily can seize metal held by bullion banks, and the two ETFs should not be considered havens against such a crisis. His commentary is headlined "The Role of GLD and SLV" and it's posted at GoldMoney's Internet site here:
http://www.goldmoney.com/gold-research/alasdair-macleod/the-role-of-gld-...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
How to profit in the new year with silver --
and which stocks to buy now
Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million.
Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets.
To learn about this report, please visit:
http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp...
Join GATA here:
World Resource Investment Conference
Sunday-Monday, May 26-27, 2013
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
http://www.cambridgehouse.com/event/world-resource-investment-conference...
* * *
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
GoldMoney Reduces Storage and Exchange Fees
From April 1 GoldMoney will be reducing by a third its storage fees on gold stored at all VIA MAT vaults to just 0.12 percent per year and halving the cost of storing silver with VIA MAT Switzerland to bring it in line with GoldMoney's silver storage fees at other vault locations: 0.49 percent per year as the standard fee and 0.39 percent per year for more than 50,000 ounces of silver. In addition, GoldMoney's minimum storage fee will be reduced to only 0.001 grams per month for gold, platinum, and palladium, and 0.001 ounces per month for silver. In April GoldMoney also will be simplifying and reducing its metal-to-metal exchange fees. For the full details of these significant fee reductions, please visit:
http://www.goldmoney.com/lower-fees-overview?gmrefcode=gata
