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Bloomberg TV lets Rickards explain the gold price/demand incongruity
3:56p ET Tuesday, December 31, 2013
Dear Friend of GATA and Gold:
Bloomberg News Television today gave fund manager and geopolitical analyst James G. Rickards four minutes to explain the incongruity between the falling gold price and the extraordinary demand for the metal, which he said probably involves market manipulation. Rickards cited the flow of Western gold to China through Switzerland and added that the decline in gold holdings claimed by the exchange-traded fund GLD is actually bullish for gold because bullion banks have been unable to obtain gold except by liquidating GLD's metal. The paper shorting of gold, Rickards said, is based on a very small amount of metal. "At some point," Rickards said, "you're going to want your gold and there's not going to be any around." The interview can be viewed at the Bloomberg Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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