Ponzi Scheme in Gold

Moral of the story: Take possession of your gold

This time, a 'golden' opportunity
Commentary: The gold world's Bernie Madoff promised 45% annual returns
By David Weidner, MarketWatch

Last update: 9:38 a.m. EST Feb. 26, 2009

NEW YORK (MarketWatch) -- Gold bugs enjoy a special place here on Wall Street.
They're our bizarre-o twins in the world of investing. When our market is up, theirs is down. We trade securities used to assign a value to companies, industries and commodities. They trade a useless piece of rock that people dig up.

We don't understand one another, so we eye each other warily. Sure, some of us may own a little gold, but we only hold it as a hedge -- or as jewelry. The gold bugs may hold some stock, but their hearts aren't in it. And they can't wear it.

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