Wednesday, March 30, 2011

Dump Your Gold ETFs

In one of my earliest posts, I suggested that if you're really buying gold for the "end of the world" scenario, you have a problem: Gold ETFs look and act like hard currency.  A sheet of paper may be exchanged for gold, on demand.

Today the Wall Street Journal picked up the story from federal court in North Carolina of Bernard von NotHaus who has been convicted of producing hard currency.  He's going to federal prison, and they're taking his gold.

Your GLD is at risk.  Don't say I didn't warn you!

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