I was also wondering about how much gold GLD actually carries, and when I read that they were “buying gold” to bolster their reserves, that made me nervous. The rest of these comments made me real nervous! I put 5% of my portfolio into GLD, and it went up and back down to where I bought it at, so I think I will dump it. I bought it as a hedge against a MAJOR panic / market meltdown (along with an even larger position in the double shorts on DOW and Russell), so i may move the gold money into the double shorts….
Should there be a TRUE crisis, who knows, the GLD might be worth a fraction of its value if they don’t actually hold an equivalent amount of the stuff!
