Hi JM. Sure does look like a conflict of interest. At a basic level it is a slap in the face to everyone that looks to gold as a measure and store of value.

I have believed ans stated since day 1 that the ETFs were not a good thing for us gold bugs. One; they are not forced to have the gold or silver they claim by any mechanism but the old "trust us". Second; they are created by the big banking crooks themselves. Third; it takes away funds from honest purchases of the actual metal. The hens being watched by the fox would have a better chance. The fox can only eat so much!

The model that CEF put out is the right one for people that want to "in and out" the metals. CEF now carries about a %17 premium. This is near the same as actual gold and silver coins. Funny how that works out.

"They" will always be one step ahead of the average investor until the average investor is broke or tired of having his money stolen and decides to look behind the curtain.