Claudio Grass: West Doesn’t Understand Gold

from Wall St for Main St Jason Burack had on first time guest, managing director of Global Gold Claudio Grass. Claudio lives and works in Switzerland just outside Zurich. Global Gold specializes in storing physical, allocated, insured gold for its clients outside the banking system only in Switzerland since the early 1990s. During this 30+ minute interview, Jason asks Claudio about the Euro, Greece or Germany leaving the Euro and the Swiss depegging. Claudio thinks for now Greece and Germany will stay in the Euro, but if Greece leaves of gets concessions on its bond debt the other PIIGS nations like Portugal, Italy, Ireland, Spain will want similar deals to Greece. Claudio talks about how all of this is created by central planning, Keynesian Economics and bad monetary and fiscal policy. Next, Jason and Claudio discuss the Swiss gold referendum and why it was defeated. Claudio says once the polls came out showing the Swiss people were in favor of backing the Swiss Franc with some gold again, Swiss banks and the Swiss government spent big $$$ advertising on TV, newspapers and magazines to defeat the referendum (which they were not supposed to be able to lobby against it or advertise against it). Jason and Claudio wrap up the interview discussing the supply/demand fundamentals for the gold market. Claudio says Swiss gold refiners are indeed having trouble sourcing large amounts of physical gold supply to recast into 1kg .9999 bars for China, Asia and the Middle East.

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