CNBC Attempts to Quell GLD Conspiracy Rumors, Hilarity Ensues

CNBC yesterday ran a cheerleading, anti-conspiracy piece on the SPDR GLD ETF, in an attempt to convince gold bugs that the trust actually holds physical gold. LOL, right?
As can be seen in the photo above, CNBC’s Bob Pisani toured the GLD warehouse, and presented this bar marked ZJ6752 as proof that GLD holds the phyzz.
Ok, conspiracy debunked, right?
Well, until somebody had to go and check SPDR’s full GLD bar list, and discover that ZJ6752 is nowhere to be found in SPDR’s inventory.


Bwahahahaha!
Surely the bar was just liquidated from the vault, right? Well, GLD inventory has been essentially flat for the past week, (meaning no inventory adjustments involving heavy gold bars) and Pisani also quotes the inventory as 1200 tonns.  (Translation- according to SPDR GLD statistics, no gold is likely to have left the GLD vaults since CNBC filmed the interview)

So who exactly is the proud owner of that attractive piece of gold stamped ZJ6752?
Hugo Chavez?

Nice work CNBC, you have succeeded in throwing gasoline on the flames of the SPDR GLD conspiracy theories.

Comments

  1. Now that is Sweet!

  2. I'll second that. Just been through the 1764 pages and ZJ6782 as of 31st Aug 2011 is not listed…lol of course they'd say it's one of the few that has been sold since the story was filmed….Yawn ;-)

  3. Correction ZJ6752…..hit the wrong key.

  4. LOL…at around 4:36 he talks about the guys who keep the bar lists accurate and that they do a good job….TOO FUNNY, maybe they need to re-check their list! So here is what would be interesting…does anyone have OLDER versions of the bar list? And is bar on ANY of those lists??? Now that would be interesting!

  5. You know factory tours… they give souvenirs to those who come through. I'm sure Pisani has it at home on his mantle. LOL

  6. If you watch the video carefully, notice the HT stamps on the wooden pallets. HT stands for Heat Treated wood and is an international standard to ship wood products to other nations. This means that these gold bars came from a foreign source or is bound for a foreign nation.

  7. Seems like all we get from the establishment financial meda is a constant stream of prevarication and outright lies.

  8. Good eye there Jimmy! My eyes were fixed on the gold bars lol!

  9. lonerangersilver says:

    Smoke and mirrors. So we saw some gold, but whose gold was it. They are getting desperate holding all that paper gold.

  10. CNBC's commentators have to be the dumbest bought and paid for prostitutes on the planet. Anyone who follows and believes these shills deserves to have their heads handed to them. I finally started to make money in the market when I quit tuning in. The noise from them was making my head and my savings explode.

  11. Bobby Piss. What a clueless ass.

  12. According to this blog site the serial was found but belongs not to GLD but to ETF Securities.
    http://screwtapefiles.blogspot.com/2011/09/zero-hedge-zj6752.html

    That means either the storage location contains gold for multiple accounts and we really don't know how much is GLD's OR the reporter was never at the GLD storage facility.

    One interesting comment was also how easily the reporter flips over the 400oz bar (12kg). Had a cpl of looks and it does look suspiciouly easy. Unfortunately I haven't got a 400oz bar to test this with myself.

  13. did he not say that it's illegal to lase out the gold. someone should pass the video to JP morgan..lol

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