Antal Fekete: Backward thinking on backwardation


4:30p ET Thursday, December 18, 2008

Dear Friend of GATA and Gold:

Economist and monetary historian Antal Fekete today updated and elaborated on his work on backwardation in gold, stressing that the increasing shortage of gold is largely a function of the collapse of world trade and the attempts of central banks to cover debt with more debt instead of with gold itself. Fekete's commentary is headlined "Backward Thinking on Backwardation" and you can find it at GoldSeek here:

And at 24hGold here:

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

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