“American investors did not buy physical gold, but instead bought ETFs — promises to pay money, not gold — because commissions were lower than coins. But the commodities futures organizations are now facing the lowest inventories of deliverable gold ever. If the owners of contracts for future deliveries — ‘longs’ — start taking delivery, the exchanges will have to deliver digital dollars instead. Westerners like George Soros and John Paulson have been selling their paper gold positions. Asians are taking delivery of physical gold. You can’t make jewelry out of digits.  Who is selling physical gold? No one in the industry knows.”

http://teapartyeconomist.com/2013/08/20/asians-buy-gold-westerners-sell-it/

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