Ethos Gold Corp (ECC)

[rlfb06]

Possible what and when.

Refiners are claiming that gold scrap recycling has plunged 50% (accounting for an approx 850 tons of gold supply annaully).

My take - Due to the economy most of the average Joe's who have decided to sell to recyclers pretty much have done so. Not much left to part with (supply) especially at these current levels.

Excerpts of interview between Eric King and Eric Sprott:

"The only supply now is coming from the miners."

"Some day there will be a default. I don’t know whether there will be a default on the COMEX, or some industrial user announces they can’t produce something because there is no silver, but the word is going to get out here sooner or later, and it will be quite a euphoric time for the precious metals.

"It’s hard to predict when a default event would occur, but I think anyone looking over even 12 to 24 months has to realize we are getting very, very close. And when it happens, there will be a substantial move in the price of gold (and silver). We’ll make up for these last two years in no time.”

Additional thoughts from Eric Sprott on the Fed, inflation, debt monetization and precious metals price suppression.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/2/11_Sprott_-_Default_Coming_As_850_Tons_Of_Gold_Supply_Vanished.html

Also note this at the bottom of the article.
***Important Notice - King World News Responds To Attack On Its Internet Site

Gary Freeman continuing to dollar cost average at current levels.
http://canadianinsider.com/node/7?menu_tickersearch=ECC+%7C+Ethos+Gold

GLTY