“I am sniffing that there’s going to be a day when those central banks that are leasing it, realize they won’t get it back, are going to put up the sign and say, ‘No mas. We’re not going to sell any more. We’ve lost this game.’ (They will ask themselves) what are we doing here? Why do we keep suppressing the price of gold?
Everyone knows there’s a financial crisis going on. And if they (central banks that have leased out gold) ever try to get it back, they’ll never get it back, and who knows where the price of gold can go, but it can go a long, long way from here.
I argue that there is 6,500 tons of demand and 4,000 tons of supply (each year), and the extra 2,500 tons is coming out of central banks that are leasing it. Imagine if they just stopped leasing it. Who knows where the price would go? You would get such chaos (disorderly upside trading in gold).