"GATA are fools aren't they? Just imagining conspiracies heh? We only have massive amounts of paper gold and paper silver shorted on Comex and the LBMA that the sellers do not own and could not possibly deliver."
GATA are fools because they didn't know why the last bear market happened. They were crying conspiracies in the late 1980s early 90s, completely oblivious to the real drivers behind the gold price... the same macroeconomic factors driving gold higher now.
Conspiracies appeal to losers losing money. Just like the 70s bull market, gold stocks have under-performed bullion in a big way.
As for physical shortages and inability to deliver, I've been hearing this for 13 years. Physical bullion demand has gone through the roof over that time, and it keeps coming to market as the price rises.
It's like saying there's a shortage of shares to buy on the stock market. Above ground gold has kept pace with global production growth for centuries, now at 170,000 tonnes.
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