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Interviewed by King World News, Rule counsels patience for gold investors
5:06p ET Monday, July 15, 2013
Dear Friend of GATA and Gold:
Sprott Asset Management's Rick Rule today tells King World News that patience is the key to profitable investing and that despair is the most suitable time for investing. But Rule also repeats the canard that governments can't print gold.
Of course governments print gold around the clock, "leasing" gold and selling gold futures and options directly or through bullion banks or the Bank for International Settlements, so much so that real metal may back only a small percentage of the claims to gold held by investors.
That's what the whole Western central bank gold price suppression scheme is about -- a fractional-reserve gold banking system. While there are increasingly signs of stress in that scheme, if enough investors are content to hold paper rather than real metal, it can go on forever, though it is a cosmic fraud, totalitarian and imperialist.
Investing is one thing. Fraud is something else; every day it cheats people who won't have the lifespan to overcome it. GATA's job is not to have Rule's patience for it.
An excerpt from the interview with Rule is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/15_Ri...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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