CNBC Europe: gold is 'a rigged market'

Naylor-Leyland tells CNBC Europe that gold is 'a rigged market'
Submitted by cpowell on Thu, 2011-12-22 15:22. Section: Daily Dispatches
10:23a ET Thursday, December 22, 2011
http://www.gata.org/node/10811

Dear Friend of GATA and Gold:

CNBC Europe this week broadcast a spectacular interview with Cheviot Asset Management's investment director, Ned Naylor-Leyland, in which, amazingly, he was allowed to discuss the collusion of central and commercial banks "selling leveraged paper" in gold, to characterize this as "the modern manifestation of the London gold pool," to note that there may be as many as a hundred times more paper claims to gold than real metal is available, and to conclude that gold is "a rigged market."

Naylor-Leyland, who spoke at GATA's Gold Rush 2011 conference in London in August, added that market interest is shifting from paper to physical.

The interview is a little more than five minutes long and it's posted at the Cheviot Internet site here:
http://www.cheviot.co.uk/media/press/outlook-gold-2012

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