RE: TGLD: Ponzi within A Ponzi?
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Thanks for breaking it down. For me the chain of custody to the "real" world asset was never obvious or trustless ( or even verifiable from my perspective), so I didn't get a deep as your analysis , but my conclusion was the same.
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Yeah, the problem is there is no asset. Nobody has a claim to a thing if it all becomes insolvent. The gold in GLD is real, but none of us can have it. There's nothing backing TGLD.
!BBH
!PIZZA