"Bears cant convince gold/silver ETFs"

[Miljan.Miljanic]

hi john thanks for all your work, your analysis is always spot on and well informed.

harvey organ posted this article on his website;
http://www.gotgoldreport.com/2012/06/bea...resize-433

it's a good read.. but check what was written as the top comment (it's probably something any of your regular readers would have said);
"Good article gene

But do you for a moment believe the actual holdings f these 2 etfs whose custodians are suspect?

In may smack down of silver, slv used to regularly trade the entire float (shares outstanding ) on a daily basis , simply not possible

I remember once a reputable major silver mining executive said he doesn't think that slv has any silver behind it probably used up to prevent a default at comex in 2011. he also took part in the pslv financing subsequently.

SLV and gld regularly add silver and gold in tonnes back and forth probably showing you that this a backdoor way to get metal for comex deliveries. on the other hand pslv have to source it for months before they can get the silver as per eric sprott

so how can one rely on the custodian holdings chart on this article

your thoughts?"

Gene's response to this comment troubles me because it stinks of the old "remain calm... all is well" scene from animal house.