Bloomberg Interview of Peter Hambro - Must Watch

24
Thu, Sep 10, 2015 - 12:36pm

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. https://www.bullionstar.com/blogs/koos-jansen/its-virtually-impossible-t...

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.

TF

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  24 Comments

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Homes
Sep 10, 2015 - 3:28pm

Timing

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??

realitybiter
Sep 10, 2015 - 3:22pm

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.

Iceberg Slim
Sep 10, 2015 - 3:09pm

WOW

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!!

Marchas45
Sep 10, 2015 - 1:27pm

The Most Important

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

JackPutter
Sep 10, 2015 - 1:25pm
Picabo
Sep 10, 2015 - 1:09pm
Key Economic Events Week of 10/26

10/27 8:30 ET Durable Goods
10/27 10:00 ET Case-Shiller home prices
10/27 10:00 ET Consumer Confidence
10/27 10:00 ET Richmond Fed
10/28 8:30 ET Advance Trade in Goods
10/28 8:30 ET Wholesale Inventories
10/29 8:00 ET ECB monetary policy stmt
10/29 8:30 ET Q3 GDP first guess
10/30 8:30 ET Personal Income and Spending
10/30 8:30 ET Core Inflation
10/30 10:00 ET UMich Consmer Sentiment

Picabo
Sep 10, 2015 - 1:01pm
JackPutter
Sep 10, 2015 - 1:00pm

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.

Sep 10, 2015 - 12:56pm

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???

https://www.bullionstar.com/blogs/koos-jansen/india-precious-metals-impo...

waxybilldupp
Sep 10, 2015 - 12:51pm

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.

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