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No, the world isn't rushing into gold (yet), Metalla Royalty's E.B. Tucker tells Kitco News
1:55p ET Saturday, August 8, 2020
Dear Friend of GATA and Gold:
Despite the recent excitement in the gold sector, E.B. Tucker of Metalla Royalty and Streaming told David Lin of Kitco News this week that the world is not rushing into gold. Gold-related assets, Tucker says, constitute at most 1 or 2 percent of all financial assets. If the world ever does rush into gold, Tucker says, the sector will never be able to accommodate substantially increased demand -- at least not at current prices.
... Dispatch continues below ...
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Tucker also discusses the possibility of gold confiscation by government. He sees confiscation very likely but only at far higher prices, and thinks it would be imposed via a punitive windfall profits tax.
He adds that gold offers far more anonymity as an asset than bitcoin does.
After much tussling 15 years ago GATA extracted from the U.S. Treasury Department its position on confiscation of gold and silver. The Treasury said that, upon proclamation of an emergency by the president and the invocation of the Trading With the Enemy Act of 1917 and the International Emergency Economic Powers Act of 1977, the department would claim the power to seize or freeze any gold- and silver-related assets.
But the Treasury urged monetary metals investors not to get too paranoid about this, because under those laws, upon a proclamation of emergency by the president, the department would have the power to seize or freeze any damned thing it wanted to.
As the song says, it's "the land of the free and the home of the brave."
GATA's exchange with the Treasury Department is here:
Tucker's interview with Lin is 13 minutes long and can be viewed at Kitco here:
https://www.kitco.com/news/video/show/Kitco-NEWS/2930/2020-08-07/Gold-co...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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Toast to a free gold market
with great GATA-label wine
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http://www.gata.org/files/GATA-4-wine-bottles.jpg
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http://www.gata.org/files/FayJWineryVarietals.jpg
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
https://www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651...
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
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