buy facebook likes

Dave Kranzler sets the record straight on recent “failure to deliver” gold confusion

Yesterday, Dave Kranzler published an article (click here) torpeedoing the hype about a failure to deliver physical gold and Deutsche Bank, Deutshe Borse and the Xetra-Gold Notes.  Alternative media fell off the turnip truck.  Kranzler, a gold fund manager, sets the record straight. – Eric Dubin

TND Podcast Spotlight:  Shadow of Truth #105

A lot of questions were raised when it was reported that Deutsche Borse failed to deliver physical gold in exchange for its Xetra-Gold Notes. But the only real answer to those questions is simple: the only way you ever own physical gold is if you buy actual physical gold and take possession.

The allegations that Xetra-Gold or Deutsche Bank or Deutsche Borse committed fraud or failed to deliver gold are strictly false. One thorough reading of the Xetra-Gold prospectus dispels those allegations. The prospectus little more than a blanket legal disclaimer. The language is clear. It says right in the prospectus that the an investment in the Notes “does not constitute a purchase or other acquisition of Gold.”  The allegations that Xetra-Gold or Deutsche Bank or Deutsche Borse committed fraud or failed to deliver gold are strictly false. One thorough reading of the Xetra-Gold prospectus dispels those allegations. The prospectus little more than a blanket legal disclaimer. The language is clear. It says right in the prospectus that the an investment in the Notes “does not constitute a purchase or other acquisition of Gold.” There is not case for fraud because none of the participants in Deutsche Borse, and Deutsche Borse itself, did not commit any breach of contract per the terms of the prospectus.

The term “economic” in the prospectus is defined (pg 12) to mean that the “bears the market risk associated therewith. If the gold price decreases, provided that all other conditions remain unchanged, such decrease may result in a partial or complete depreciation of the invested capital. If the gold price increases, provided that all other conditions remain unchanged, such increase may result in an increase in the invested capital.”

In this latest episode of the Shadow of Truth we discuss why buying paper forms of gold like GLD or Xetra-Gold is nothing more than an investment in a paper claim to the rate of return on gold during the period in which you own the security. If you don’t hold your gold in your own possession, you don’t own it:


# # # #

About Dave Kranzler:

Aspen1-dave I spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, I traded junk bonds for Bankers Trust. I have an MBA from the University of Chicago, with a concentration in accounting and finance. My goal is to help people understand and analyze what is really going on in our financial system and economy. You can follow my work and contact me via my website Investment Research Dynamics.  Occasionally, I publish on Seeking Alpha too. As a co-founder and principal of Golden Returns Capital, LLC Mr. Kranzler co-manages the Precious Metals Opportunity Fund, a metals and mining stock investment fund. 

# # # #

About The Daily Coin:

the daily coin

Rory Hall, Editor-in-Chief, The Daily Coin, has studied the precious metals market, economic and monetary policies as well as geopolitical events since 1987. I have written well over 700 articles and produced more than 200 videos. Beginning in 2014 The Daily Coin became my latest incarnation. Prior to launching my own website and YouTube channel I began working with Sean at SGTReport.com in 2012 and still contribute, daily, to his website.  The YouTube Channel, The Daily Coin, was launched in February 2014 and website TheDailyCoin.org was launched April 2014. My original articles have been published by such notable websites as Zerohedge, SHTFPlan, Sprott Money, Silver Doctors and The News Doctors just to name a few. I have interviewed some of the top professionals, in their field, from around the world, including Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. The Daily Coin is enjoying global growth for both original works and delivering some of the best economic, precious metals, geopolitical and preparedness news from around the world.

TND full (1)

Follow All Of TheNewsDoctors.com’s Exclusive Articles:

http://thenewsdoctors.com/category/thenewsdoctors-exclusive/

OR

Subscribe To Receive All TND’s Exclusive Articles In Your RSS Feed:

http://thenewsdoctors.com/category/thenewsdoctors-exclusive/feed/

 

Best Silver Coin Prices Online

About the Author

Categories