VANCOUVER, Canada ( Bullions Bull Canada) -- During the recent, massive slaughter in the paper gold market, investors have been bombarded with a million and one "explanations" by the mainstream media as to why people are "fleeing gold."The problem is that not one of them is consistent with the known facts. It has been widely reported that holdings of gold ETFs have plunged by the largest amounts on record. At this point analysis becomes simple: If these people were "fleeing gold" there would be massive stacks of gold piling up in warehouses as people discarded all of this "unwanted" yellow metal. So, where is the gold? In fact, back in the real world Comex gold inventories (the same inventories from which the ETF's are stocked) have plummeted by the largest amounts on record. Instead of inventories increasing by the largest amounts on record (what the mainstream is expressly implying with their "fleeing gold" rhetoric), we have precisely the opposite.