Trace Mayer: A problem with GLD and SLV ETFs

Section:

11:20a ET Sunday, December 14, 2008

Dear Friend of GATA and Gold:

In an essay published yesterday, Trace Mayer, an accountant, lawyer, journalist, and proprietor of the Internet site RunToGold.com, has done a wonderful job exposing the weaknesses of gold and silver exchange-traded funds, as those weaknesses are acknowledged in their own prospectuses. Mayer observes, "There is no assurance that the 'gold' held in the ETFs is actually the same gold as defined under the periodic table."

Mayer's essay is headlined "A Problem with GLD and SLV ETFs" and you can find it at Run To Gold here:

http://www.runtogold.com/2008/12/a-problem-with-gld-and-slv-etfs/

And at Seeking Alpha here:

http://seekingalpha.com/article/110609-the-problem-with-gld-and-slv-etfs?

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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