Bloomberg Interview of Peter Hambro - Must Watch

A big hat tip and thank you to our pal, Koos Jansen, for spotting this and tweeting it out earlier. With all of the continuing stories of exhausted western gold supply, you need to see this interview from earlier today. Peter Hambro is Chairman and Co-Founder of Petropavlovsk, the second-biggest gold producer in Russia.

First, here's the link to Koos' article from earlier Thursday. Be sure to read it.

Some quotes from Mr. Hambro during this astonishingly frank, 4-minute interview:

  • "That is real gold. The alternative is paper gold...other people's promises. That is nobody's promise."
  • "The price of gold doesn't vary, it's the price of the promises that vary."
  • "Are you sure it's as good to have Comex futures as it is to have the real thing?"
  • "It's virtually impossible to get physical gold in London to ship to China and India."
  • "There is no physical about. Instead, there are endless promises."
  • "I really worry that that paper market is something that could be stamped upon and people say 'sorry, we're going to have a financial closeout' and it's all over. If you want to be in the gold business, you want to be in the physical business."

The interview concludes with Mr. Hambro giving his thoughts on Fed policy and next week's FOMC.

This is an incredibly honest interview and I'm quite amazed that it actually aired on Bloomberg. Please take the time to watch.



squib's picture

It's good to be the king

Just some great quotes:

"Experience has shown, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny." - Thomas Jefferson

"Power attracts the corruptible. Suspect any who seek it." - Frank Herbert, Chapterhouse: Dune

"Among a people generally corrupt, liberty cannot long exist." - Edmund Burke

"Look at the orators in our republics; as long as they are poor, both state and people can only praise their uprightness; but once they are fattened on the public funds, they conceive a hatred for justice,plan intrigues against the people and attack the democracy." - Aristophanes, Plutus

"Politically, Republicans and Democrats are at opposite ends. One's a burp and the other's a fart." - Jarod Kintz

LostMind's picture

ok, I have to Two

"perception, not truth!"

Wow, that female interviewer just "hates" gold... OMG, she would have to carry it! Where would she "keep" it!

I guess all she wants is that DIGITAL PROMISE... err mean money.

Oh yeah, buy more metals!

Turd Ferguson's picture

Consider what Peter says...


and then consider this chart...

Turd Ferguson's picture

And once you hear the final


And once you hear the final 60 seconds of the interview, you'll be left wondering if Mr. Hambro isn't a closet Turdite! wink

waxybilldupp's picture

Excellent! ...

All you need to know about owning gold in 4 minutes.  Peter absolutely gets it and refuses to sugar coat the narrative. The blond, on the other hand, is completely vacant between the ears.  Clown boy next to her is just warming the chair.  The interview brought a smile to my face.  Thanks Turd!

wax off

edit:  Oh my! I see I captured the coveted THURD spot.  Even a blind pig finds an acorn now and then.

Turd Ferguson's picture

My goodness! Wait till you see this!!


Just got this link from Koos. You will be astonished by these India import numbers! Where the heck are China and India finding all of this gold (and silver) to import??? Could it really be that London is dry and that US supply is the final safety valve???

JackPutter's picture

Saw this vid late last night, was surprised it got air time.

There seems to be some media pump about gold at the moment.  Big name money making massive bets on gold.  In my eyes if you're betting on gold then you've missed the point.

Picabo's picture

Video won't play for me


Turd Ferguson's picture

Maybe reload the page and try again?


Works fine for me.

Marchas45's picture

The Most Important

3 words in that video was " Perception Not Truth ". Keep Stacking

Iceberg Slim's picture


this Peter fella sure gets it!! and his opening analogy was perfect... amazed Bloomberg would air this truth-bomb segment but great to hear it made the air waves. Great job Peter, kudos!!

realitybiter's picture

famous last words

Bear Stearns is a safe investment

Bernie Madoff is not a criminal

Fannie Mae is safe

Enron is simply being hounded

Gold is a petrock!  Only for lunatics.  GLD is safe if you have to invest in gold...

it is all great, until it suddenly isn't and suddenly, too late.

Homes's picture


Call me a skeptic, but I find the timing of this interview rather interesting. We just learned that there are a record 228 ounces of gold claims per deliverable ounce and now we have a Bloomberg guest saying that paper gold is not real gold?

What are TPTB up to now??

JackPutter's picture

I ran into several articles about Soros, Drukenmiller, and other

and other big names going into "gold" Ic ould gamble we're talking ETFs and not the physical materials.  My belief is based on SRSROCCO's recent research article on where the bulk of actual invest for silver has gone ie. bars and coins rather than SLV or GLD that both of the ETFs could have been dryed up.

The fact that both the LBMA and the COMEX were both caught messing about with public numbers that things might be a bit tight between the sham-factory of ETFs and "bourses".   I'm pretty convinced that the ETFs are a form of ponzi strip mine for JPM and others, not to mention trying to siphon off physical sales from the market.

Here's a UK page that's full of perception management for you;

SteveW's picture

Bloomberg TV

The show on which Mr. Hambro appeared is "The Pulse" with London based anchors. It runs from 4:00 am to 6:00 am Eastern Time and is only seen in the US by dedicated viewers.

GuerrillaCapitalist's picture

Closet Turdite

Craig and Neighbors:

I too thought Mr Hambro sounded like one of our community. Which brings up something I've wondered about over the past few years, I think TFMR has a much larger impact and readership than we could ever suspect. I know if I were a major player I'd certainly be reading this site.

infometron's picture

time for another anonymous h/t poll

Hat tip if you are an otherwise recognizable but anonymous "closet turdite"

This would include major players and personages such as previous or potential A2A guests, or erstwhile personages who are influential in the media, financial, precious metals related industry, but for reasons of discretion and/or ridicule prefer to remain anonymous...

Sorry SS121, Dr P, CPE, Mr. Fix, and other fellow beloved turdites, you all know who you are, this poll sadly doesn't include you. Also, no hat tips for the brilliant idea of an anonymous hat tip poll (that would skew the results, right!?) Kudos, comments, and condemnations happily accepted in a separate post.

I also happily dedicate this anonymous h/t poll to GuerrillaCapitalist!

Edit: I know it's tempting, but no pretenders, posers, or wannabes! :^))

AlienEyes's picture

Most famous last words of all time....

"WTF was That ???"

Mayor of Hiroshima, Japan on Aug. 6, 1945.

cashonly's picture

There is no video for me

this is a snippet of the page I see:

JackPutter's picture

Interview is here on Koos's page

Turd Ferguson's picture

Which browser are you using?


Video plays for me in both safari and Firefox 

lakedweller2's picture


Firefox didn't work for me but safari and bing did.

renozep's picture

Peter Hambro Interview

Oh!  That was a balm -  A very credible man on top tier MSM speaking the truth.

He just laughed at the blond.

Thanks for that Koos and Turd.

Keg's picture

My favorite quote

My favorite quote from the interview:

"Perception is the new truth."

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