On guy I read each day on the POG, from a technical viewpoint,...

On guy I read each day on the POG, from a technical viewpoint, also is a physical trader (supplier). When gold crashed last week he said he did not have much time to analyse the 3.5% fall as his orders to supply the REAL thing were through the roof.

So, yes, it is an odd game. But there will be a rude awakening at some stage when the shorters are required to pony up the real thing.

Actually, they never will. Because they own NIL. So they cannot. All they can do is 'go broke'. So the people long in ETFs will simply not collect. It is a mugs game the paper gold game. The banksters collect real money when they con the other side. If they ever 'lose' (go broke) they will simply say 'oh, sorry, cant pay'.

Actually, there are a couple of other mugs in the game. The guys that LONG ETFs. If they did not play the game, the game would not exist. And the idiots who actually sell their gold at the phony price.

Honestly, can I start an ETF on oil and short at $5 a barrel. Then go to the Arabs and say 'look, Mickey Mouse bought Dan Hoff's oil ETF for $5 - you are now required to sell all your oil for $5 a barrel'.

I am amazed anyone even plays this game. And I am amazed that the price of the physical gold is actually set by some three card trick price. Most amazed. Amazing, really.