You are here
At London conference Tocqueville's Hathaway denounces Comex
10:45a ET Wednesday, December 2, 2015
Dear Friend of GATA and Gold:
Reporting from the Mines and Money conference in London, Sharps Pixley's Lawrie Williams writes that the Tocqueville Gold Fund's John Hathaway denounced the New York Commodities Exchange's gold contract as "fiction -- a casino for paper gold."
Hathaway added that world gold production may fall by 25 percent over the next few years without an increase in the gold price. Williams writes: "With sales out of the major gold exchange-traded funds falling back, yet continuing huge demand from Asia, he said the only way the gold price could still be falling, as it is, is if physical gold supply is being supplemented by movements out of above-ground stocks."
Now whose would those "above-ground stocks" be?
Apparently Hathaway didn't say, but he is getting ever closer to acknowledging what's really going on. Maybe he'll get there at the next conference.
Williams' report is headlined "Comex is Fiction, a Casino for Paper Gold -- Hathaway" and it's posted at the Sharps Pixley Internet site here:
http://news.sharpspixley.com/article/lawrie-williams-comex-is-fiction;-a...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore
Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore.
Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars.
Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver.
Goldbroker.com is listed among GATA's recommended monetary metals dealers:
To invest or learn more, please visit:
Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
