The Problem with Gold Futures, ETFs

Fergus Hodgson, November 15, 2018 rss iTunes SoundCloud-logo Bitchute Brighteon

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Many investors have taken to gold futures and exchange-traded funds (ETFs) to diversify their portfolios. They could be in for some disappointment, according to Chris Powell.

He is the secretary and treasurer of the Gold Anti-Trust Action Committee (GATA), a nonprofit and civil-rights organization. It monitors the market for manipulation of monetary-metals prices and intervention of central banks to defeat free markets sound-money alternatives.

Powell argues that these instruments are largely “paper gold,” which cannot be redeemed for metal in any practical sense. Further, they give bullion banks a tool to keep prices under control in complicity with central banks.

“If you put your money into one of the main ETFs in anticipation of higher gold and silver prices, you might as well just flush it down the toilet,” says Chris Powell. (iStockPhoto)

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Fergus Hodgson is Gold Newsletter’s roving editor. Follow him on Twitter and Facebook.