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Swiss banks promote gold allocation to stop outflow of metal, von Greyerz says

January 31, 2013 by · Leave a Comment 

GATA

2:53p ET Thursday, January 31, 2013

Dear Friend of GATA and Gold:

Swiss gold fund manager Egon von Greyerz today tells King World News that most economies and currencies are self-destructing. Most interestingly von Greyerz argues that the recent promotion by Swiss banks of their allocated gold accounts is aimed at stopping depositors from removing their gold from the banking system. But von Greyerz does not think that gold allocation at banks will be enough to protect gold depositors if banks fail and central banks want to grab their gold. An excerpt from the interview is posted at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/31_Ke…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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