JIM WILLIE: THE RUSH FOR PHYSICAL GOLD IS ON
SilverDoctors.com
NOVEMBER 8, 2012
GoldMoney’s Alasdair Macleod has released part 2 of his excellent interview with Jim Willie of GoldenJackass.com. Part 2 focuses on the global rush for physical gold and the increasing transfer of wealth from Western countries to their Eastern counterparts, and the hugely bullish picture for silver at the moment.
Willie expects silver to outperform gold 3-fold as the bull market advances.
MUST WATCH!!
The huge flow of gold from West to East is evidence of this wealth transfer. Willie also talks about plans by Germany, China and Russia to create an alternative payment system to replace the US dollar in multilateral trade. According to Willie it is going to be gold-based and will be peer-to-peer — eliminating many sources of profit that currently exist for banks. He also points to increasing talk from certain influential people about the possibility of a renewed gold standard.
Willie sees big outflows of gold from London to China, with 5,000 tonnes leaving London from March to mid-June according to his source. As banks are desperately looking for physical gold official reserves might be seen as a tempting source. He senses a scandal were such gold has been replaced with gold certificates to satisfy physical demand.* In his view, Fort Knox likely does not hold the gold that it is claimed exists there.
On the subject of silver, Willie expects the white metal to outperform gold threefold once the prices of both metals start rising. Stockpiles have been used up over recent decades, but the monetary and industrial demand for silver is continuously increasing, painting a very bullish picture for the metal.
The Rest…HERE
