"When push comes to shove, silver and gold are money."
video here: http://video.cnbc.com/gallery/?video=3000100465&play=1
Gold is manipulated just as LIBOR was and for same reason, Naylor-Leyland tells CNBC
Submitted by cpowell on Tue, 2012-07-10 03:07. Section: Daily Dispatches 11p ET Monday, July 9, 2012
Dear Friend of GATA and Gold:
Cheviot Asset Management Investment Director Ned Naylor-Leyland seemed to make his fellow panelists on CNBC Europe very uncomfortable today as he asserted that the gold and silver markets have been manipulated just as the LIBOR interest rate was manipulated, and for the same reason -- to disguise trouble in the world financial system. Naylor-Leyland also said that market manipulation was also the purpose of the British gold sales of a decade ago. Looks like the gold and silver manipulation issue is becoming irresistible. Naylor-Leyland's interview is not quite five minutes long and it's posted at the CNBC video archive here: