Inaflap i wasnt suggesting Red has no gold, quite the opposite I was reffering to articles i have been reading regarding ETF trading, and the real gold that is supposed to back up those Exchange traded Funds. Apparently all ETF contracts should be backed up by real gold held in a vault somewhere, but recently with all the wheeler dealing and shifty finance deals there is some question as to whether the amount of gold covered by ETF contracts actually exists. Apparently the number of open ETF Positions around the world is way in excess of all known gold stocks. People are holding shares in these ETF funds that can theoretuically be exchanged for gold, but some suggest that if they were to all cash in their holdings the whole system would collapse as the gold may not actually exist. More reason for the need for real gold -hence RED Dont know if its just a conspiracy theory or a real concern, but nothing surprises after what the so called experts did during the GFC.
RED Price at posting:
$1.20 Sentiment: None Disclosure: Held
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