Anyone else worried that just maybe not all the bullion custodian entities really own all the gold, silver, platinum and palladium they claim?

Despite custodians of all these financial products claiming to be 100% backed by bullion something just doesn't look right does it?.

The explosion in ETF's and other bullion products has successfully filled investor demand during the recent bull market. Just imagine what the price of gold or silver might be today if all that demand was not sucked up by these new product innovations.

Seems to me that there is a good chance that gold and silver now work on a fractional reserve system. Just like our ponzi banking system. Nice for bankers to earn commission on stuff they don't own, but what happens if something triggers a run on physical supply? Who really owns the bullion? I note that COMEX and the ETF's have recently changed the rules regarding physical delivery and payment in cash. They have also introduced automatic sale triggers at their discretion and massive financial penalties physical delivery. What is up with that? Isn't that the point of COMEX? Why would they do this if their was ample supply? Also for those of you who think its fine to accept payment for your bullion holdings in cash rather than physical metal, ask yourself what if a default coincided with a currency devaluation, just like 1932? Be warned they are changing the rules for a reason. Please consider holding your bullion in physical form outside the traditional financial system channels.