On the heels of more volatile trading in global markets, today Canadian legend John Ing told King World News that the Shanghai Gold Exchange has now delivered more than gold than what is supposedly stored at Fort Knox in the United States. Ing, who has been in the business for 43 years, also spoke about how this will impact the price of gold in the future. Below is what Ing had to say in his fascinating interview.
Ing: “There has been a great deal of noise, but amid that noise you have to separate the rhetoric from the reality. This on-again, off-again quantitative easing is just more of the rhetoric. It reminds of the 1970s, when there was ‘peace in Vietnam.’ Well, it took 3 years to have peace in Vietnam.
But every time peace was declared, the stock market went up 100 points, and then it would go down when it wasn’t going to happen. It feels like the same thing with quantitative easing….