Obviously the amount of paper gold far outweighs the amount of...

Obviously the amount of paper gold far outweighs the amount of physical gold behind the 'paper'. It is, by definition a fractional system. It is simply gambling on the future price of paper gold.

Once paper gold holders start demanding delivery, then paper gold will reflect the future price of physical gold.

What I have always stated is I find it odd that two people playing, gambling on the price of paper gold, somehow create the spot price for physical gold.

Now, you can see how it should work with Timber's house. I bet he AINT selling it at the paper price. I bet the owner of Timber's house (Timber) refuses to sell at some funny, made up price.

But, until gold miners do something radical by saying 'we refuse to sell at this price - we will hang onto it', the paper gold consters, banksters hold sway.

What did OPEC do in the early 70s. They said 'we refuse to sell oil at this price you clowns have decided by using the paper market' So, what happened. You recall.

So, I am dearly hoping for the day when miners and sellers and buyers of real gold tell the ETF and futures clowns: your funny bet on the future price of paper has nothing to do with us.

I agree, in hindsight, the ETFs really gave a leg up on the POG. Now that ETF holders are the same as 2009 - and yet the POG has doubled since then, it augers well for the POG. If ETFs kick in again, then POG will go up. If these fractional ETFs are actually being forced to cough up the gold (which most here think is what is happening) then the ETFs will die a natural death.

Honestly, I think it is win-win for physical traders and miners. If ETFs kick back in... up we go (for SURE). If ETFs default then up we go (I guess, but I aint sure!)