`I think that physical will separate itself from the paper market. The problem with the paper market is there's no gold and they basically have all these claims or people think that they have claims on gold, but the fact is the gold isn't there, it's been hypothecated and re-hypothecated. It's basically... what you want today is real physical gold or a paper product where its audited and you know 100% that the gold it allegedly holds, is there."

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