gold $2000 /oz in 2009, page-22

Hi Tomu,

Pierre Lassonde (former President of Newmont) said back in 2000 that central bankers have sufficient gold to feed the market until 2020. That's if they decided to let all of it go. Their gold supply artificially distorts the free market, but it's a fact of life nonetheless. Will they sell it all? I don't think so but they are drip-feeding it to the marketplace, more so on price spikes, to contol the gold price rise. Some amongst us, me included, prefer to believe that central bankers will one day think outside the box and revalue gold upward to repair their balance sheets, especially when the inevitable happens and US bonds bite the dust. However, that is probably wishful thinking so 2020 remains my worst case scenario when gold is finally free from government intervention/manipulation.

Rowingboat