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Resume Of The Day: Meet The Man Who Sold 1,300 Tons Of Swiss Gold

Posted By yihan On October 4, 2012 @ 8:06 am In Money Watch | Comments Disabled

Zero Hedge [1]
October 4, 2012

If you are the person who sold 1,300 tons of Swiss gold in the pre-”New Normal” era, you probably would like to keep that fact to yourself. But not Michael Paprotta, or the guy who didsell 1,300 tons of gold for the Swiss National Bank from 2000 to 2005. As a reminder, the price of gold in the period was between $250 and $450, making Gordon Brown’s own dump of a meager 400 tons of UK gold [2]between 1999 and 2002 seem like amateur hour by comparison. Assuming a current price of gold of $1800 and a blended disposition price of $350/oz, this means that Switzerland effectively gave up on just under $60 billion in upside. That’s ok though, the SNB’s balance sheet is now full to the gills with money-good EURs. Who needs gold in a fiat regime anyway? Certainly not Michael Paprotta who gives up on tens (soon hundreds) of billions in gold upside fiat equivalents in the morning, then goes skiing in the afternoon.

From LinkedIn [3]:

Resume Of The Day: Meet The Man Who Sold 1,300 Tons Of Swiss Gold Michael%20Paprotta

And for those who are not familiar with the brilliant Swiss gold selling operation…

Resume Of The Day: Meet The Man Who Sold 1,300 Tons Of Swiss Gold SNB%20gold%20sales 0

Source: SNB’s Philip Hildebrand [4]

 


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URL to article: http://www.prisonplanet.com/resume-of-the-day-meet-the-man-who-sold-1300-tons-of-swiss-gold.html

URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2012-10-04/resume-day-meet-man-who-sold-1300-tons-swiss-gold

[2] 400 tons of UK gold : http://blogs.telegraph.co.uk/finance/thomaspascoe/100018367/revealed-why-gordon-brown-sold-britains-gold-at-a-knock-down-price/

[3] LinkedIn: http://www.linkedin.com/pub/michael-paprotta/52/1/b8b

[4] SNB’s Philip Hildebrand: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/09-2/SNB%20Gold%20Sales.pdf

[5] Swiss To Vote On Gold Repatriation – “Gold Is The Only Valuable Asset On The SNB’s Balance Sheet”: http://www.prisonplanet.com/swiss-to-vote-on-gold-repatriation-gold-is-the-only-valuable-asset-on-the-snbs-balance-sheet.html

[6] Gaddafi regime sold 29 tons of gold: http://www.prisonplanet.com/gaddafi-regime-sold-29-tons-of-gold.html

[7] Swiss Franc Collapses 7% Against the USD, EUR and Gold – Swiss National Bank to Fix CHF to EUR and Debase Currency: http://www.prisonplanet.com/swiss-franc-collapses-7-against-the-usd-eur-and-gold-%e2%80%93-swiss-national-bank-to-fix-chf-to-eur-and-debase-currency.html

[8] Citi: China Sold Their Treasuries Because They Want To Buy Tons Of Gold: http://www.prisonplanet.com/citi-china-sold-their-treasuries-because-they-want-to-buy-tons-of-gold.html

[9] Chart Of The Day: Chinese November Gold Imports Soar To 91 Tons; 2012 Total 720 Tons: http://www.prisonplanet.com/chart-of-the-day-chinese-november-gold-imports-soar-to-91-tons-2012-total-720-tons.html

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