John Embry: Own gold, the metal, not a paper promise

4p ET Friday, March 20, 2009

Dear Friend of GATA and Gold:

In his latest commentary for Investor's Digest of Canada, Sprott Asset Management's chief investment strategist, John Embry, notes the failure of the supposed massive gold purchases by exchanged-traded funds to affect the gold price much. He wonders: Since mine production is declining, where is the ETF gold coming from? And since the custodians of the ETF gold are also the perpetrators of the gold price suppression scheme, is the ETF gold really there at all?

Better to hold real metal in one's hot little hands than paper promises of metal, Embry writes, and that's where the headline on his essay comes from. It's "Own Gold, the Metal, Not a Paper Promise," and you can find it at the Sprott Internet site here:

http://www.sprott.com/pdf/investorsdigest/digest.pdf

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