January 4, 2012 | By Tekoa Da Silva
A candid interview with Ned Naylor-Leyland
In response to the current sell-off in gold, Ned commented, “You’ve got to bear in mind, they’re just selling leveraged paper, no one is selling physical. There is just a tsunami of paper selling in order to maintain the illusion of fiat value…and it will be overcome…the physical buying will ride over the paper selling.”
He further stated that this sell-off, “gives [investors] an opportunity to diversify and hedge themselves at a reasonable level, because in due course we’ll get a huge move and the market will have recognized what is really going on...we’ll get some kind of event in the market which will drive price discovery and a change in the way markets behave in one fell swoop. The substantial illiquidity of gold and silver will prove to be a big problem for asset allocators and people trying to come in at that point.” LINK...
