*UPDATE: We have now confirmed that the ‘GLD’ bar marked ZJ6752 is listed in the bar list for the EFTSecurities fund, as stated by Ned Naylor-Leyland.
Screen shot of the EFTS bar list including bar ZJ6752 is included below.
We now have indisputable evidence that the gold bar held up by Bob Pisani as a ‘GLD’ gold bar is actually owned by ETF Securities!!
The Doc spoke with Cheviot Asset Management’s Ned Naylor-Leyland Sunday regarding the Euro-zone crisis and the €100 billion Spanish banking system bailout announced this weekend, extreme supply constraints in the physical bullion markets, the new allocated silver exchange launching in China this summer, and gold rehypothecation concerns.
Ned provided some explosive details regarding the infamous GLD gold bar presented by CNBC’s Bob Pisani which was quickly discovered NOT to be on the GLD’s bar list.
Ned reveals the ACTUAL OWNER of the gold bar shown on CNBC, who HAD NOT GIVEN PERMISSION to CNBC or to Bob Pisani to handle their bullion, and was shocked to see Pisani claim their bar as part of the holdings of the GLD!
In Ned Naylor-Leyland’s words, ‘this tells you EVERYTHING YOU NEED TO KNOW ABOUT ETF’S!!‘ [Read more...]