Alasdair MacLeod – Price of Gold & Silver is Infinity
by Greg Hunter
USA Watchdog
Finance and economic expert Alasdair Macleod says the gold market is “extremely dangerous as far as the bullion banks, swaps and trading desks” that, at some point soon, are going to have to deliver physical gold they do not have. Macleod explains, “I find it difficult to see how they can close it. . . . The possibility of a default and the possibility of a ‘force majeure’ is increasing all the time in this current situation. This is a difficult thing to predict, but unless someone can show me there is a way out of this . . . I can’t see how these banks can be rescued.”
So, the only way the banks can be saved is if they can deliver tons of physical gold they likely don’t have? Macleod says, “Which they don’t have, not likely have, they don’t have.”
Macleod thinks failure to deliver gold is coming soon where the contract will be settled in cash and not physical metal. How many times can the gold market do this? Macleod says, “I think it will be the end of the futures market because nobody would trust it as a means of delivering gold. I mean it would have demonstrably failed. So, why would you play with it again? Of course, the failure of COMEX contracts is a very, very serious issue.”