Timmins Gold CEO notes the paper gold fraud
2:44p ET Friday, January 25, 2013
Dear Friend of GATA and Gold:
In an interview with Tekoa Da Silva of Bull Market Thinking, Timmins Gold CEO Bruce Bragagnolo sounds like an applicant for a GATA tin-foil hat.
"Gold lends itself to the physical market," Bragagnolo says. "A lot of the exchange-traded funds are simply options on gold and I think there has to be some catalyst here that will drive up the price of gold. The catalyst may come in the form of some ETF defaulting, not having the physical gold in their accounts, and not being able to option their way out of it. ...
"The nice thing about the gold market is that you have to have the physical gold to back it up. If you don't have it, then you've got a problem. There's so much paper gold in circulation that they couldn’t possibly cover all these pieces of paper. ... So there could be a short squeeze at some point in gold that would drive up its price."
The interview with Bragagnolo is posted at Bull Market Thinking here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Opinion Around the World Is Changing
in Favor of Gold -- Find Out Why
When Deutschebank calls gold "good money" and paper "bad money". ...
When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ...
When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ...
When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ...
When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ...
World opinion is changing in favor of gold.
How can you learn why and what it will mean to you?
Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard."
Financial journalist James Grant says of "The True Gold Standard": "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman she has finally found him."
To buy a copy of "The True Gold Standard," please visit:
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Fred Goldstein and Tim Murphy open All Pro Gold
Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/.