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Rob McEwen calls Bank of Canada 'idiots' for selling gold at market bottom
9:09p ET Friday, March 4, 2016
Dear Friend of GATA and Gold:
McEwen Mining Chairman Rob McEwen, founder Goldcorp, tells Business News Network in Toronto today that the executives of the Bank of Canada are "idiots" for having sold the country's last gold reserves just as the Bank of England did from 1999 to 2002 -- at the bottom of the market. "We're supposed to be a country built on resources, and we give away gold," McEwen tells BNN's Andrew Bell. McEwen also describes the unusual way he runs McEwen Mining -- with a huge stake of his own money in the company, a 25 percent ownership, drawing no salary and receiving no options. McEwen also criticizes "streaming" by gold and silver mining companies, their sale of a share of their production to royalty companies, the equivalent of hedging. The interview is 7 1/2 minutes long and can be viewed at the BNN Internet site here:
http://www.bnn.ca/News/2016/3/4/Gold-bug-McEwen-calls-Ottawa-idiots-for-...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATa.org
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