I hope this is a wake up call for all those who have purchased or are thinking of purchasing gold/silver certificates and the ETFs. Although it's a relatively easy way to leverage against the commodity price, this case highlights how your investment can be wiped out overnight as those holding the certificates are immediately forced to the back of the creditor line, likely only to receive pennies on the dollar after months or years of legal proceedings.

As you suggest Silverbull, Nads was likely complicit in this racket as he slammed the precious metals while working as the front man for a company that sold investment products for the same commodities. Now he slips away through the guise of corporate tax fraud...how convenient. I guess the hand the fed him was not Kitco!

BTW, next week is Armstrong's predicted cycle change!!!