Egon says: paper traders and manipulators will lose out badly.
Following the Leap day large drop in metals Egon von Greyerz told Eric King in a 10 minute interview on March 2, 2012; Don’t be surprised and don’t be concerned; paper traders and manipulators in the Gold and Silver market will lose out badly. Investors must protect with physical precious metals, get their (relative) wealth out of the banking system and do not leverage. These are still the early stages of a massive and necessary fiat currency adjustment which will be reflected in the price of Gold.
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