CME President on Gold: “They Don’t Want Certificates, They Want the Real Product"

pmbug

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What’s interesting about gold, when we had that big break two weeks ago we saw all the gold stocks trade down significantly, we saw all the gold products trade down significantly, but one thing that did not trade down, was gold coins, tangible real gold. That’s going to show you, people don’t want certificates, they don’t want anything else. They want the real product.

- Terrence Duffy, President and Executive Chairman of CME Group Inc,. on Bloomberg TV yesterday (April 29, 2013)
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More: http://libertyblitzkrieg.com/2013/0...want-certificates-they-want-the-real-product/

Starts @ 0:40 mark:
[ame="http://www.bloomberg.com/video/cme-s-duffy-says-exchange-competition-helps-market-6rSibzdvRRGnC9Ldgfo~XQ.html"]CME's Duffy Says Exchange Competition Helps Market: Video - Bloomberg@@AMEPARAM@@tframe.html?ec=VtMDNhYjqnf63Yv57BdTEVFXAP7lzFOI&pbid=8a7a9c84ac2f4e8398ebe50c07eb2f9d"@@AMEPARAM@@VtMDNhYjqnf63Yv57BdTEVFXAP7lzFOI@@AMEPARAM@@8a7a9c84ac2f4e8398ebe50c07eb2f9d[/ame]

A member of the court just said (on TV) that the emporer has no clothes.
 

Unbeatable

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'The coins probably have more value than anything else'
He says after too @ 1:19

Basically saying not just that people want physical but that that there is difference in value between holding paper and physical & this coming from CME president!

Great stuff!
 
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