A rebuttal to the Scotia Mocatta empty-vault story — “Hour 1” of April 10, it’s an audio file, FF to about 1:01:00 for an interview with Nick Barisheff, President & CEO, Bullion Management Group.
Re empty vaults at SM: “I find that totally incredible... I’ve been in the vaults more than a dozen times... we have about $300M in bullion in the vault... at the least annually, we go in with our auditors... they check all the serial numbers and all the bars...” You get the idea.
http://www.financialsense.com/fsn/main.php contents
http://www.netcastdaily.com/broadcast/fsn2010-0410-1.asx audio
FWIW at 10:30-16:00, Steven Hochberg, Chief Market Analyst, Elliott Wave International, also talks about gold:
- they “love gold longer term”
- gold is forming a “rolling top” now
- but EW predicts gold drops to $680 or less (which IMO is right out) before new highs
hey I beat zerohedge on this one, what do you think of that.