75% to 80% of the Gold the World Owns Doesn't Exist?
~ The Rebel ~
2012/06/24 23:12:00
Powell warns about “paper gold” and says that we “try to persuade investors that if they are purchasing gold, they had better get real gold – metal.
They should not get “paper gold” and keep it within the banking system.” He says that “there is huge naked short position in gold” and estimates that perhaps “75% to 80% of the gold that the world thinks it owns does not exist and is just a claim on a bullion bank that is underwritten basically by the central banks.”
Read More: http://www.blacklistednews.com/80%25_of_the_Gold_t...
When the system collapses, the "paper gold" will be as worthless as the paper money.