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0 Gold Shortage Rumors Abound

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“I have no proof the rumor is true,” adds Egon von Greyerz of Matterhorn Asset Management in Switzerland. But “a lot of people who have studied it closely are convinced that there is a major shortage in physical gold at LBMA. LBMA trades around 700 tons net of gold daily. That is 25% of world annual production and around $6 trillion annually. To back that amount of trading on a 100% reserve ratio basis, it would need several year’s production of physical gold, which they definitively haven’t got.

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