DC: Has the attitude of your customers changed since the announcement of QE3?
TC: The phone’s been ringing off the hook. People get it; they know that the money supply will keep growing and that with a bank account yielding 1%, you’ve got a guaranteed annual loss of 6% – 10% on your purchasing power. Eventually, people will stop worrying about recession/depression and start worrying about getting rid of worthless paper, and the velocity of money will pick up. That’s when precious metals will soar.
DC: How can buyers avoid those tungsten-filled bars that are showing up?
TC: It started with the 400 ounce bars the Chinese and Germans found last year with tungsten in them. No one trades those bars except governments. You’ll notice that right after that the Chinese started a massive sell-off of US treasury bonds. Then everything got real quiet and we haven’t seen any more of those bars..."
Mainland China Treasury Holdings ($ billion)
at http://dollarcollapse.com/precious-metals/tom-cloud-silver-is-the-hot-thing-now/
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