Cliff Küle's Notes:

Cliff Küle's Notes Reflections on our world & its money (The Great Confidence Game)

Apr 27th 2013, 23:44 Sprott: "Historic Panic Bottom  Ushers In New Gold Bull Market" "In my mind it was quite bizarre. I put it down to one of two things: Either central bank manipulation, which I would fully understand why they would do it, or some technical breakdown in the derivatives market which might have caused it .. I suspect when we all look back at this a year from now when the price of gold is at record highs, we will look at this smash and say, 'That was the bottom.' It's typically what happens at a bottom. Everyone panics .. As Andrew Maguire has told you, he thinks something like 1,000 tons has gone from the LBMA over to Asia. There is no room for people to buy an extra 1,000 tons, which happens to represent almost 50% of the non-China, non-Russian market. I mean how do you buy an extra 50% more of a market and not have the price go up? .. I think it was Japan where people were paying $500 above the spot price of gold. So it just shows you that the desire to own it, and perhaps the beginning of a real threat of shortages could have quite a significant impact on the precious metals markets." - Eric Sprott (AA) link here to the article

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