“That can only continue for a certain period of time. After that period of time you will have what is known as the greatest short squeeze the world has ever seen (in gold). It could be that China suddenly decides they have enough gold and come out and say, ‘The yuan is partially backed by gold.’
It could be any number of things but that catalyst is inevitable, it’s going to happen. I see us closer to major changes. A collapse of the current situation….
“Yes, much closer to collapse today than it was two or three weeks ago before Cyprus.
A lot of people aren’t buying this continued, quiet growth in Germany, and the US. Turkey, for example, is importing increased amounts of gold. You are going to see other countries outside of the eurozone importing more and more gold.
Bear in mind, it’s obviously in the interest of the leading economies in the West to keep gold under control because if gold suddenly shot-up here, what it would tell you is that we are on the verge of collapse. There is no doubt about that at all.