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The gold leasing racket; why deficits and gold matter; and inside China's gold market

Section: Daily Dispatches

9:36p ET Tuesday, July 16, 2013

Dear Friend of GATA and Gold:

Three items not to be missed tonight:

1) Eric Sprott and Etienne Bordeleau of Sprott Asset Management outline how Western cental banks rig the gold market by "leasing" metal to bullion banks but never really getting or even wanting it back. Their commentary is headlined "Central Banks, Bullion Banks, and the Physical Gold Market Conundrum" and it's posted at GoldSeek here:

2) Mike Kosares of Centennial Precious Metals in Denver explains that deficits do matter because they threaten the value of a currency and that, as a result, gold matters too. Kosares' essay is headlined "In 'a Banquet of Consequences' Deficits, Gold Matter" and it's posted at Centennial's Internet site, USAGold, here:

3) And Jan Skoyles, research director for The Real Asset Co. in London, is interviewed by Max Keiser on "The Keiser Report" on the Russia Today television network about her new study of the Shanghai Gold Exchange, which she finds to be far more a physical market than the largely paper market of the New York Commodities Exchange.

"Questions over the legitimacy and transparency of Comex and the London gold markets are becoming louder, especially as increasing numbers of institutions are keen to know what actually backs those contracts," Skoyles writes. "'Paper gold' is on everyone's lips."

Skoyles' report is headlined "Inside the Red-Hot Chinese Gold Market" and it's posted at the Real Asset Co.'s Internet site here:

Her interview on "The Keiser Report" begins at the 12-minute market at YouTube here:

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


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