logo
Published on Gold Anti-Trust Action Committee (http://gata.org)

Gold confiscation is an urgent threat, Greyerz tells KWN

By cpowell
Created 2018-11-12 02:32

9:32p ET Sunday, November 11, 2018

Dear Friend of GATA and Gold:

Swiss gold fund manager Egon von Greyerz, interviewed today by King World News, notes that gold confiscation is not a "barbarous relic" of history but an urgent threat to gold investors, what with the Bank of England refusing to repatriate Venezuela's gold.

... Dispatch continues below ...



ADVERTISEMENT

Goldco Is America's No. 1 Gold IRA Provider

Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.

To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:

https://goldco.com/ [1]



Von Greyerz writes: "Most central banks hold gold with with the Bank of England as well as with the Fed in New York. A major part of the central banks' gold is either sold covertly or leased to the market.

"When a central bank wants its gold back, it doesn't exist anymore in London or New York. A bullion bank has sold the leased gold to China or India and all the central bank has is an IOU stating that they are owed gold by the bullion bank. So there is no physical gold available to deliver against the IOU.

"At some point the market will discover that there is a massive shortage of physical gold in the interbank market. When this happens there will be panic and the gold price will shoot up. At the same time the holders of paper gold in the futures market will also ask for delivery. Since there are at least a hundred paper claims for every physical ounce available, there will be a massive squeeze in that market too."

So, as Greyerz notes, storage of gold is just as important as ownership.

His comments are headlined "Greyerz Just Warned Government Confiscation Is Alive and Well" and it's posted at King World News here:

https://kingworldnews.com/greyerz-just-warned-government-confiscation-is... [2]

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org [3]

* * *

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:

http://www.gata.org [4]

To contribute to GATA, please visit:

http://www.gata.org/node/16 [5]


Source URL:
http://gata.org/node/18606