More gold depositors can't retrieve metal from Swiss banks, von Greyerz says

Section:

2p PT Friday, May 24, 2013

Dear Friend of GATA and Gold:

Matterhorn Asset Management's Egon von Greyerz today tells King World News more troubling stories of clients who have been unable to withdraw the gold they thought they had on deposit in Swiss banks. "The bottom line," von Greyerz says, "is that the banks don't have enough physical gold to cover the commitment to their clients, and governments in the West also have a lot less physical gold than they claim to have. As the paper market is 100 times larger than the physical market, it means that paper market has virtually no physical gold to back it."

An excerpt from von Greyerz's interview is posted at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/5/24_Su...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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