the empty vault [or, when perception is not reality]
posted on
Apr 08, 2010 06:27AM
At King World News, more evidence of unbacked gold and silver certficates
Submitted by cpowell on Wed, 2010-04-07 21:06. Section: Daily Dispatches
5p ET Wednesday, April 7, 2010
Dear Friend of GATA and Gold (and Silver):
Eric King of King World News today interviewes GATA board member Adrian Douglas and Canadian precious metal investors Harvey and Lenny Organ about the latter's visit to the Scotia Mocatta bullion vault in Toronto in search of the family's metal and his discovery that there was little metal in the vault and that the family's metal wasn't there at all as it was supposed to be. This is more evidence that many gold and silver certificates have been sold on a fractional-reserve basis -- the assumption that most people won't take possession of their metal and that, as a result, banks can vastly inflate what is imagined to be the world's gold and silver supply, thereby suppressing the price. The interview is about 20 minutes long and you can listen to it here.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/4/7_An...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
