Awoke
12th May 2010, 08:33 PM
On CNBC, GLD is dissed for not investing in physical gold
Submitted by cpowell on 04:29PM ET Wednesday, May 12, 2010. Section: Daily Dispatches
7:26p ET Wednesday, May 12, 2010
Dear Friend of GATA and Gold:
Strange things are happening at CNBC. First, Jim Rickards of Omnis keeps getting invited back even though he keeps explaining why the gold price has to rise dramatically. And today another CNBC guest, David Lutz, managing director of the Stifel Nicolaus brokerage and investment banking firm in St. Louis, having been asked for his recommendations in regard to gold, disparaged the gold exchange-traded fund GLD as follows: "I wouldn't necessarily look at the GLD because they don't invest in the physical gold."
Where could people be getting such ideas?
The CNBC segment with Lutz is 3 1/2 minutes long, his politically incorrect comment comes a few seconds after the one-minute mark, and you can find it at the CNBC Internet site here:
http://www.cnbc.com/id/15840232/?video=1492076817&play=1
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
http://www.gata.org/node/8639
Submitted by cpowell on 04:29PM ET Wednesday, May 12, 2010. Section: Daily Dispatches
7:26p ET Wednesday, May 12, 2010
Dear Friend of GATA and Gold:
Strange things are happening at CNBC. First, Jim Rickards of Omnis keeps getting invited back even though he keeps explaining why the gold price has to rise dramatically. And today another CNBC guest, David Lutz, managing director of the Stifel Nicolaus brokerage and investment banking firm in St. Louis, having been asked for his recommendations in regard to gold, disparaged the gold exchange-traded fund GLD as follows: "I wouldn't necessarily look at the GLD because they don't invest in the physical gold."
Where could people be getting such ideas?
The CNBC segment with Lutz is 3 1/2 minutes long, his politically incorrect comment comes a few seconds after the one-minute mark, and you can find it at the CNBC Internet site here:
http://www.cnbc.com/id/15840232/?video=1492076817&play=1
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
http://www.gata.org/node/8639