Sunday, September 8, 2013

A Run on the Bank

This is a run on the bank, Eric ... You had inventories (of physical gold and silver) on the COMEX climbing for years. And now all of the sudden, over the past 8 months, they've taken this huge nosedive.

The gold is being withdrawn from the warehouses because it’s not being valued properly in the West. And it’s being shipped to the East where it is being valued properly. People in the East understand gold is very undervalued and it serves a very useful purpose at this time -- the fact that it’s money outside of the banking system.

- James Turk via King World News:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/8/5_Turk_-_LBMA_Fractional_Reserve_Gold_System_Is_Disintegrating.html