Fitzwilson: Central Banks Stockpiling Gold & Governments Hoarding Oil !
- Central Banks Stockpiling Gold & Governments Hoarding Oil !
With gold and silver set up for a big move this week, today King World News interviewed 40 year veteran, Robert Fitzwilson. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the Unites States. He told KWN that investors need to accumulate key assets while they remain undervalued. Fitzwilson also said gold, silver and oil are being hoarded by a combination of central banks and governments. Here is what Fitzwilson had to say: “It is critical that people distinguish between price and value. As prices fall and ‘utility’ stays the same, that is what creates greater value. In the case of oil, gold and silver, not only is the utility holding steady, but it is actually rising.”
Central banks in the Far-East continue to accumulate gold and governments are stockpiling gold, oil and, in some cases, even silver. As long as that trend is in place, prices for these hard assets will continue moving higher.
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