“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 did sell 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 between 1999 and 2002 seem like amateur hour by comparison. Switzerland effectively gave up on $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 anyway?”

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

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