GLD adds 16 Tonnes of Paper

That should be the title to the following article.  GLD has "claims" to LBMA-approved so called "good for delivery" gold bars.  Those bars are held at "approved" facilities.  What happens when the "approved" facilities are asked to deliver those bars when other parties also own commitments to the same gold?  GLD is a gold paper Ponzi that will blow up.  Beware!

GLD Adds 16 Tonnes

by Gene Arensberg

On Monday, May 24  SPDR Gold Shares (NYSE:GLD) reported adding another 16.74 tonnes to show 1,236.89 tonnes of allocated, LBMA-approved, so called "good-delivery" gold bars.  Yet another record amount of gold bullion held by an ETF.

 
GLD adds metal and increases the number of shares in the trading float in response to periods of aggressive buying pressure - when there is more positive liquidity than negative liquidity.  The reverse is also true.
 
Apparently GLD has seen significant positive money flow as investors seek refuge from weakening capital markets, escalating fears of credit-related contagion out of Europe as well as another increase in the interest rates banks charge each other for short term loans.

Since March 23 (about one month) GLD has added 121.38 tonnes of new gold bars to the largest gold hoard held in private hands.