Jeffrey P. Snider: F(r)actions of gold
11:50p ET Thursday, January 28, 2016
Dear Friend of GATA and Gold:
Zero Hedge tonight calls attention to commentary published this week by Jeffrey P. Snider, head of global investment research for Alhambra Investment Partners in Palmetto Bay, Florida, who argues that gold has been hypothecated and rehypothecated so much by central banks and investment banks, giving rise to a vast imaginary supply, because for several years now the monetary metal has been the only decent collateral left in a world economy creaking under the weight of contrived financial instruments that really aren't worth much at all. Snider seems to suspect that this racket is just about finished. His commentary is headlined "F(r)actions of Gold" and it's posted at the Alhambra Investment Partners Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore
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