James Turk on Metallwoche: Gold and Silver are Still Undervalued
The set up for this Die MetallWoche audio interview of GoldMoney founder James Turk reads: “Step back from the trees and look at the forest“. Especially in times like this it is very pleasingly to talk to people who really understand that gold and silver are sound money. James Turk, chairman and founder of GoldMoney, without any doubt is one of them. For us it is a real pleasure to have him first time on Metallwoche.de
With a lot of outside noise in the news around us, it makes a lot of sense to concentrate on the basics. Connected from London today via phone is James Turk, the interview was done by Michael, from metallwoche.de. Enjoy the show!”
Among other important and timely comments, Mr. Turk allowed: “Don’t underestimate the stupidity of decisions by policymakers. Remember it was back in the 1960s that the U.S. government dishoarded 10,000 tonnes of gold from Fort Knox at $35 per ounce – so stupid things get done. Look at Gordon Brown selling half of Britain’s gold reserves under $300 an ounce back in 1999 – the “Brown Bottom.”
A bit later: “The mining shares now, the gold mining shares, are more undervalued now than they have been in history. They are more undervalued now than they were after the Lehman Brothers collapse, which is truly a remarkable statement. Years from now we are going to look back at 2012 and marvel that the mining shares were so undervalued.”
The half hour program is in an unhurried, even-tempered (some might say old-fashioned) format we prefer. We consider the program worthy of sharing.
Click on the "Play" arrow on the audio tab, left-center on the page.
With a nod to Ed Steer at Casey Research for bringing the link to our attention.