from TF Metals Report:
As we close the books on 2013, I thought it would be fun to put the record-breaking plunder of the GLD “inventory” into perspective.
We spent a lot of time documenting the pillage of the GLD in 2013. Here are links to just a few of the biggest hits:
Let’s begin with the math. The GLD began 2013 with an “inventory” of 1,349.92 metric tonnes of gold. It finished the year with an “inventory” of 798.22 metric tonnes of gold. This brings the total 2013 plunder to 551.70 metric tonnes or 40.87%, roughly 17,737,567 troy ounces of gold. As Ruprecht would say: “That’s a lot”.
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