If Your Gold Reserves Are at the BOE or NY Fed, You Have No Chance of Getting Out With Any Metal!
Date: Friday, 2-Nov-2012 00:10:29
Posted by Charleston Voice
October 31, 2012 By The Doc
The Doc welcomed back Cheviot Asset Management’s Ned Naylor-Leyland for an exclusive interview Sunday regarding the German gold repatriation, and how it will affect the physical gold market going forward.
In this MUST READ interview, Naylor-Leyland stated that when you take into account the fractional reserve accounting by the bullion banks, the 50 ton annual gold repatriation number is much larger in terms of the impact on the underlying market.
Naylor-Leyland believes Germany and the other central banks storing their gold reserves at the BOE and the NY Fed are essentially SOL, stating: If you’re holding your central bank gold reserves either in the Bank of England or the NY Fed, unless you are Theseus trying to find the Minotaur, you have no chance of getting out of there with any metal. The gold ownership chain of custody is severely tarnished and it’s obvious that it’s a problem. In light of what we know about the tightness of the physical market it appears the pressure is on, and it’s not likely to dissipate.
Full MUST READ interview with Ned Naylor-Leyland on the central bank panic out of paper and into physical gold reserves below:
Read/Watch more>>
http://chasvoice.blogspot.com/2012/11/if-your-gold-reserves-are-at-boe-or-ny.html
Date: Friday, 2-Nov-2012 00:10:29
Posted by Charleston Voice
October 31, 2012 By The Doc
The Doc welcomed back Cheviot Asset Management’s Ned Naylor-Leyland for an exclusive interview Sunday regarding the German gold repatriation, and how it will affect the physical gold market going forward.
In this MUST READ interview, Naylor-Leyland stated that when you take into account the fractional reserve accounting by the bullion banks, the 50 ton annual gold repatriation number is much larger in terms of the impact on the underlying market.
Naylor-Leyland believes Germany and the other central banks storing their gold reserves at the BOE and the NY Fed are essentially SOL, stating: If you’re holding your central bank gold reserves either in the Bank of England or the NY Fed, unless you are Theseus trying to find the Minotaur, you have no chance of getting out of there with any metal. The gold ownership chain of custody is severely tarnished and it’s obvious that it’s a problem. In light of what we know about the tightness of the physical market it appears the pressure is on, and it’s not likely to dissipate.
Full MUST READ interview with Ned Naylor-Leyland on the central bank panic out of paper and into physical gold reserves below:
Read/Watch more>>
http://chasvoice.blogspot.com/2012/11/if-your-gold-reserves-are-at-boe-or-ny.html