A different view of GLD (part 2 of 4) updated

This is part 2 of a perspective on GLD's inventory you won't find anywhere else on the internet; an edutainment series using the ETF bar list data as a base. In Part 1 we looked at what occurs when we look at a specific set of inventory, here is the updated graph (using the data from July 2013). This time I have added some extra data points to help accentuate that the line indicates the measurement between two chosen points only. The additional measurements show bullion for a shorter 2-year range.

The last few months of removals has started cutting into GLD stock originally accumulated more than two years ago (i.e. this is shown where the corner meets the inventory curve), whereas that wasn't the case in February. For our 'overall' measurement, the dark yellow line has moved DOWN (from dotted line) since last month, so we can say that over 1,000,000 ounces of gold removed in the last month, was taken from stock present prior to June 2011. But while this is interesting, it is no particular conspiracy as it just reflects the fact a lot of gold is being de-listed.

Also bear in mind this chart summarizes a lot of detail. Don't read into the figures too much.

A different view of GLD (part 1 of 4)

GM has charts sewn up nicely, but in the land of the bar list, what's new? Everyone knows about the decline in GLD inventory but not much attention is given to increases in inventory, so let's talk about it some. There were only three 'Add Events' in GLD during June 2013, with the largest add (214 bars) on the 13th June. In my bid to make the information more digestible, here is the summary as a handy info-graphic (yeah, I've got a new version of photoshop):

on being Right and Wrong at the same time

Just for the record, we really do like Turd Ferguson. Most authors here at Screwtape Files University have followed him from the very start over at the old blogspot, and even before that in the comments section at Zero Hedge and also donated (yep). We admire him for his persistence, concern and zeal, but we do have an overall concern that he's being led astray by his sources (and taking many with him) without a proper framework of accountability and research in place.

With the launch of his new paywalled website, couldn't help but noticing the concern some turdites had over the non-secure state of the website. A few commenters wanting to pony up their credit card details noticed there was no encryption on the new site, but Turd had 'talked with his tech people' and announced that there was nothing wrong with the security and that the digital certificate was working [link].

Since this is my area of expertise, I thought I would take a look. Basically Turd is Right and Wrong at the same time - this is normal in the world of technology, where many layers of complexity exist.