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SPDR Gold Trust Message Board

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  • matx56 matx56 Mar 28, 2010 10:19 AM Flag

    It's admitted to the CFTC: London gold market is a Ponzi scheme

    Thats fine, how do you short what you don't have. What sort of ponzi scheme is that. Fine short all you want. Just put what your shorting in physical deposited at the comex. A simply and easily fix, no more paper shorting.

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    • Shorting is always done in paper. You don't short what you own (physically or not). You short exactly what you don't own. That's the market. Love it or leave it.

      • 1 Reply to warmcamp
      • It is illegal to short a stock or commoditiy that you do not own!!!
        Naked shorting is what you refer to you, legally have three days to come up with the underlying entity or you "fail to deliver" this is already the law it is just ignored.The gold market has been easy to manipulate because so few people take delivery, thats what makes a ponzi scheme work and exactly what JPM HSBC etc count on until eventually every one shows up to collect - ask Madoff investors what happens then!

        Thats why the etf's were "invented" to keep the paper gold market growing they take your dollars give you an IOU (you own no physical) and it keeps that investment money away from the physical market

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