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Old 26-03-2015, 05:26 PM
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sunburn sunburn is offline
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Default “There Are Thirty to Fifty Owners For Each Ounce of Gold That’s Out There”

Quote:
I firmly believe there are multiple… thirty maybe fifty beneficial owners for each ounce of gold that’s out there… Thirty or fifty folks that think they own that ounce and they’re all going to show up when the music stops thinking that they’re going to take delivery or lay claim to that ounce.

And that’s when the madness really starts.


When will that be? Probably not tomorrow. But as any confidence scheme eventually unravels, and this one will unravel too. It’s just a matter of time.
The problem is easy to see. Should just two people show up claiming the same ounce of gold one of them is coming home empty handed. What Craig Hemke describes is a scenario where as many as fifty different people are going to claim ownership for the same ounce of gold. The same is likely true for the silver market.

And now that the Chinese are dealing directly with physical gold it is only a matter of time before the entire scheme collapses. In fact, the Chinese and Russians know it’s coming and that’s why they’ve been furiously purchasing gold on the open market.

The solution should be obvious: If you invest in gold make sure you hold the physical asset in your hand.

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You know the drill... If you don't hold it, you don't own it!
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Last edited by sunburn; 26-03-2015 at 05:29 PM.
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