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

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  24 Comments

Marchas45
Sep 10, 2015 - 1:27pm

The Most Important

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

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!!

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.

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??

JackPutter
Sep 10, 2015 - 5:09pm

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;

https://www.theweek.co.uk/gold-price/61682/gold-price-is-its-long-term-d...

SteveW
Sep 10, 2015 - 5:18pm

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.

Key Economic Events Week of 4/6

4/8 2:00 ET March FOMC minutes
4/9 8:30 ET Producer Price Index
4/10 8:30 ET Consumer Price Index

infometron
Sep 10, 2015 - 6:06pm

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
Sep 10, 2015 - 7:24pm

Most famous last words of all time....

"WTF was That ???"

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

cashonly
Sep 10, 2015 - 7:26pm

There is no video for me

this is a snippet of the page I see:

JackPutter
Sep 10, 2015 - 8:22pm

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 4/6

4/8 2:00 ET March FOMC minutes
4/9 8:30 ET Producer Price Index
4/10 8:30 ET Consumer Price Index

Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Key Economic Events Week of 3/23

3/24 9:45 ET Markit flash PMIs
3/25 8:30 ET Durable Goods
3/26 8:30 ET Weekly jobless claims
3/27 8:30 ET Personal Inc and Spending

Key Economic Events Week of 3/9

(as if these actually matter)
3/11 8:30 ET CPI
3/12 8:30 ET weekly jobless claims
3/12 8:30 ET PPI
3/13 8:30 ET Import Price Index

Key Economic Events Week of 3/2

3/2 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 10:00 ET Construction Spending
3/4 8:15 ET ADP employment
3/4 9:45 ET Markit Service PMI
3/4 10:00 ET ISM Services PMI
3/5 8:30 ET Productivity & Unit Labor Costs
3/5 10:00 ET Factory Orders
3/6 8:30 ET BLSBS
3/6 10:00 ET Wholesale Inventories

Key Economic Events Week of 2/24

2/25 9:00 ET Case-Shiller home prices
2/26 10:00 ET New home sales
2/27 8:30 ET Q4 GDP second guess
2/27 8:30 ET Durable Goods
2/27 11:30 ET Goon Evans speech
2/28 8:30 ET Pers Income and Spending
2/28 8:30 ET Core Inflation
2/28 9:45 ET Chicago PMI

Key Economic Events Week of 2/17

2/18 8:30 ET Empire St Manu Idx
2/19 8:30 ET Producer Price Idx
2/19 8:30 ET Housing Starts & Bldg Perms
2/19 2:00 ET January FOMC minutes
2/20 8:30 ET Philly Fed
2/21 Fed Goons all day at Chicago Conf.
2/21 9:45 ET Markit flash Feb PMIs

Key Economic Events Week of 2/10

2/11 10:00 ET Job Openings
2/11 10:00 ET CGP Hump-Hawk House
2/12 10:00 ET CGP Hump-Hawk Senate
2/13 8:30 ET CPI
2/14 8:30 ET Retail Sales
2/14 9:15 ET Cap Ute & Ind Prod
2/14 10:00 ET Business Inventories

Key Economic Events Week of 2/3

2/4 10:00 ET Factory Orders
2/5 8:15 ET ADP Employment
2/5 9:45 ET Markit Service PMI
2/5 10:00 ET ISM Service PMI
2/6 8:30 ET Productivity & Unit Labor Costs
2/7 8:30 ET BLSBS
2/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 1/27

1/28 8:30 ET Durable Goods
1/28 10:00 ET Consumer Confidence
1/29 10:00 ET Pending Home Sales
1/29 2:00 pm ET FOMC Fedlines
1/29 2:30 pm ET Powell presser
1/30 8:30 ET Q4 GDP first guess
1/31 8:30 ET Pers Inc and Spending
1/31 9:45 ET Chicago PMI
2/2 10:00 pm ET Chiefs win SB LIV

Recent Comments

by Turd Ferguson, 2 min 5 sec ago
by 4 oz, 2 min 36 sec ago
by Turd Ferguson, 3 min 34 sec ago
by DeaconBenjamin, 6 min 8 sec ago
by AGAU, 10 min 11 sec ago
by tonym9, 12 min 22 sec ago

Forum Discussion

by 11IMIX, 8 min 19 sec ago
by goldcom, 9 min 53 sec ago
by sierra skier, 1 hour 46 min ago
by ag1969, 2 hours 32 min ago