BILL MURPHY Al-Jazeera

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onepence
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BILL MURPHY Al-Jazeera

Postby onepence » Fri Apr 21, 2006 1:05 pm

http://www.mineweb.net/radio/mineweb_radio/254885.htm

BILL MURPHY: Well, you’re absolutely right about the gold-oil situation. That’s one of the ways that we pointed out how it was being artificially suppressed, because it was so far under-valued that oil is now catching up. In essence, if gold were to keep pace with inflation to get to its old high even, we are talking about, I don’t know, $1 800 or $2 000 dollar gold. And we believe with the other problems that are going to surface regarding the US deficit problems, and the dollar and various things having a [indistinct] money, that gold is going to be the place to go to, and it’s going to just take off and overshoot that level. And there’s no reason that it shouldn’t be up there. The mine supplies are going down, demand is going up, and the central banks have gone through too much gold. They don’t have any more. People think they have 32 000 tons. We don’t think they have 14 000 tons left in the bank. It’s gone. And as that gets known, it’s going to fuel more demand for gold all over the world. We know that the Credit Agricole Cheuvreux Mining came out with a report a few months ago that basically confirmed exactly what GATA has to say, and that report is spreading all over the world. We’ve got an English film crew coming for a documentary for Al-Jazeera in two weeks, just to cover this very same subject. We can’t get the United States press to cover it, but we get the Arabs and Israeli press to cover it.

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