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Home>GoldWire>Bullion banking system 'not fully backed,' Naylor-Leyland tells CNBC Europe

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Bullion banking system 'not fully backed,' Naylor-Leyland tells CNBC Europe

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Published : January 21st, 2012

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Category : GoldWire

Cheviot Asset Management's investment director, Ned Naylor-Leyland, was interviewed for 7 minutes the other day on CNBC Europe and noted that the bullion banking system is "not fully backed" -- that is, that it is selling promises of gold it doesn't have. The interview is posted at the Cheviot Internet site here:

http://cheviot.co.uk/media/press/commodities-corner

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

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