asx gold etf and leasing gold, page-6

BB, I am not a conspiracy person by nature, quite the opposite. I do however have a lot of problems with the concept of the gold ETF. Put yourself in the position of the ETF company. How do you turn a profit? Playing the market perhaps? What if you get it wrong? Who carries the can, the ETF holders? If so, how safe is your ETF piece of paper. It just doesn't add up.
Also the largest gold ETF in North America claims over 1000 tonne of gold backing from ntohing in a few years. You take that sort of amount out of the market and there is a real shortage. Easier to lease from the Central Banks. Costs a fraction of a percent and no storage costs. However who is checking the Central Banks to ensure they are not double or triple leasing their gold? It is no problem anyway as under leasing you do not need to deliver. The whole ETF pot smells off to me.
I think I am allowed on conspiracy theory. I don't belive the Rockwell UFO thing, JFK assasination, Harold Holt Chinese sub, so let me have the gold ETF theory.