Oh and what would happen if a enough conspiracy theory nuts...

Oh and what would happen if a enough conspiracy theory nuts started buying and demanding physical gold around the world. Surely it wouldn't be like a Madoff scheme, that only gets shown for what it really is, when people demanded their money, as he relied on the fact everyone leaves the investment alone, as the statements looked good. There's no way that all the futures contract don't equate 1:1 with physical gold, just because that GS guy at the CFTC hearing said they trade around 100:1, doesn't mean anything. It's got nothing to do with normal market forces of supply and demand, just ask a GS or JPmorgan executive, they're totally honest. And they're in touch with god, doing god's work.