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29 Mar, 2020 15:30

Doomsday is looming for paper gold – RT's Max Keiser

Doomsday is looming for paper gold – RT's Max Keiser

Those trying to get gold via the EFP (Exchange for Physical) are now realizing that the real metal is not there, further shattering the positions of paper gold, RT's Keiser Report has found out.

"People want their gold now because they realized that the fiat money world is collapsing and then they go to get their gold and these exchanges with Comex or LBMA are saying 'no we don't have the gold actually, we lent it out, it's not here,'" RT's veteran host Max Keiser said.

As the markets have too many claims and not enough gold, especially at times when the world is facing what he calls "2008 crisis part two," it makes people want the precious metal even more than the countries that have repatriated it. This could finally crash the price of paper gold, according to Keiser.

"Everyone wants to repatriate, they want their gold back... So the physical price of gold is now zooming higher and the paper price soon will become a meaningless price," he concluded.

For more stories on economy & finance visit RT's business section