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Rick Rule draws three profound lessons from the Cyprus debacle
10:17p ET Wednesday, March 27, 2013
Dear Friend of GATA and Gold:
Interviewed today by King World News, Sprott Asset Management's Rick Rule draws three profound lessons from the debacle in Cyprus:
"1) That ultimately, given the leveraged nature of the system, deposit insurance is just another social promise that won't be able to be kept.
"2) That the regulators are completely incapable of balancing their own budgets, never mind managing a business as complex as banking.
"3) You need to have some of your assets outside of the system. You need to own some things that they can't print and regulate. And my nominations for those things would be bullion -- gold, silver, platinum, or palladium."
An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/27_Cy...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Get the real story about the precious metals
from the Sprott Precious Metals Round Table
Now you don't have to travel to attend a financial conference to hear Sprott Asset Management's precious metals experts -- Eric Sprott, Rick Rule, and John Embry. They held a round-table discussion on February 12 and you can watch it on the Internet. Among their topics:
-- Why are precious metals such a compelling investment opportunity?
-- Why are non-G7 central banks buying gold? Do Western central banks have any left?
-- Why are investors buying as much silver as gold in dollar terms? What does this mean for the price of silver?
-- Is the growing supply deficit of platinum and palladium going to push their prices higher?
To watch the conference, please visit:
http://w.on24.com/r.htm?e=579230&s=1&k=70B829852A33CD255CC2A43ED63D18D0&...
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