Ned Naylor-Leyland: ''Gold Reserves at the BOE or NY Fed? No Chance of Getting Out With Any Metal!''

From SilverDoctors...............''The Doc welcomed back Cheviot Asset Management’s Ned Naylor-Leyland for an exclusive interview Sunday regarding the German gold repatriation, and how it will affect the physical gold market going forward.
In this MUST READ interview, Naylor-Leyland stated that when you take into account the fractional reserve accounting by the bullion banks, the 50 ton annual gold repatriation number is much larger in terms of the impact on the underlying market.''

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