In Daily Reckoning interview, Sprott notes central banks' deceptive accounting of gold
8:45p ET Sunday, March 31, 2013
Dear Friend of GATA and Gold:
Interviewed by Alex Cowie of The Daily Reckoning's Australian edition last week during the Mines and Money conference in Hong Kong, Sprott Asset Management Chairman Eric Sprott stressed the deceptiveness of central bank gold accounting, particularly the failure to distinguish gold in the vault from gold that has been swapped or leased into the market. This misleading accounting, Sprott says, is masking high demand for real metal around the world.
Sprott adds: "When Venezuela devalued by 40 percent, if the citizens had owned gold they would have lost nothing. When Iceland devalued, if the residents had owned gold they wouldn't have lost 60 percent of their money. I don't know how many more countries it takes to have these events happen to until the world finally clicks in to realising it's better to own gold than it is to have a bank deposit."
The interview is posted at The Daily Reckoning here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
GoldMoney Reduces Storage and Exchange Fees
From April 1 GoldMoney will be reducing by a third its storage fees on gold stored at all VIA MAT vaults to just 0.12 percent per year and halving the cost of storing silver with VIA MAT Switzerland to bring it in line with GoldMoney's silver storage fees at other vault locations: 0.49 percent per year as the standard fee and 0.39 percent per year for more than 50,000 ounces of silver. In addition, GoldMoney's minimum storage fee will be reduced to only 0.001 grams per month for gold, platinum, and palladium, and 0.001 ounces per month for silver. In April GoldMoney also will be simplifying and reducing its metal-to-metal exchange fees. For the full details of these significant fee reductions, please visit:
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
How to profit in the new year with silver --
and which stocks to buy now
Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million.
Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets.
To learn about this report, please visit: