Greyerz – This Is The Truly Shocking Thing About Gold’s 2019 Surge To $1,550
KingWorldNews.com
October 12, 2019
As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies and metals spoke with King World News about the truly shocking thing about gold’s 2019 surge to $1,550.
A Strange Scenario After All These Years
October 12 (King World News) – Eric King: “Egon, the advance in the gold market — from when gold was basing around the $1,200 area and we had the breakout through $1,350 you predicted and gold made its way up to $1,550 — has largely been paper shenanigans. Meaning, we are not seeing the flow of gold out of Switzerland that we normally see when demand is high around the world. It’s relatively slow (at Swiss refiners) in Switzerland. It’s not that nothing is happening but it’s just slow.
And so money flows into the ETFs, which they claim are backed by gold, but then you turn around and see that in Switzerland there is no flow of gold anywhere that would make sense (with the increased tonnage being reported by ETFs). Meaning, where are they getting their gold from? The truth is they really don’t put physical gold into ETFs. So this is just a strange scenario to watch unfold after all of these years, isn’t it — the fact that the paper market has moved the price of gold higher like this?”
Egon von Greyerz: “Yes. You are absolutely right, Eric. We haven’t seen a true gold price for decades for the simple reason that this paper market is totally dominating the price setting. The paper market should be backed by physical, which it isn’t. And it shouldn’t determine the price of physical gold…
The Rest…HERE
