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Jan Nieuwenhuijs: GLD -- a crash course
10:30a ET Wednesday, January 22, 2020
Dear Friend of GATA and Gold:
Explaining today the mechanics of the exchange-traded gold fund GLD, Voima Gold researcher Jan Nieuwenhuijs writes that the fund is full of counterparty risk, the avoidance of which is a primary reason for owning gold.
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Nieuwenhuijs approvingly quotes financial writer Simon Mikhailovich on the point: "Buying an insurance policy against failure of the insurance industry from an insurance company is nonsense. If the insured event occurred, the company that sold the policy would fail and the policy would be worthless."
Nieuwenhuijs' analysis is headlined "GLD -- A crash course" and it's posted at Voima Gold here:
https://www.voimagold.com/insight/gld-a-crash-course
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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with great GATA-label wine
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