With gold and silver consolidating recent gains, today James Turk warned King World News that the LBMA fractional reserve gold system is disintegrating. Turk also spoke with KWN about the missing 1,300 tons from the Bank of England and plunging warehouse inventories. Below is what Turk had to say in this powerful interview.
Eric King: “James, I wanted to get your thoughts on what happened with this 1,300 tons of gold from the Bank of England?”
Turk: “I think this is really very significant, Eric, because first of all the skeptics were saying there was no proof that there was a lot of metal going in to the system from central banks. But the reality of the situation is you could see the (physical) gold flows into India and China, and that gold had to be coming from somewhere.”
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