Paranoia about gold ETFs, why?

[Bienes Raices]

I've read the conspiracy theories about GLD's gold bars missing from the vault, tungsten filled gold bars, and the fact that GLD will not redeem for physical gold. Most of this seems to be rumor, except for the last one, although from what I understand most or all of the ETFs will not allow you to redeem. Did anyone ever think that maybe that's just because it's totally impractical when you have thousands or millions of investors, that it's not some sinister conspiracy to hide missing gold bars until Geraldo opens the vault on TV and finds nothing there? If you want out of GLD, you just sell and take the cash. If you want physical gold, you buy gold bullion from somewhere else. Remember when you buy a stock you're buying a black box too--you could have the next Enron or Lehman Bros, no matter how much research you do.