Today a former US Treasury Official told King World News that the U.S. Federal Reserve orchestrated Thursday’s massive gold plunge which shocked market participants. Dr. Paul Craig Roberts also warned that we are on a path which will send the U.S. into “total chaos.” Below is what Dr. Roberts had to say in this powerful interview.
Eric King: “We had the Fed out with two straight days of propaganda and that was followed up by a smash in gold and silver.”
Dr. Roberts: “Yes, that’s true. It shows how irrational markets are. In fact, there was nothing new in the Fed’s statement. The markets have known for a long time that at some point the Fed is to taper down its bond purchases and eventually stop them.
So the lack of any real information in the statement makes the market reaction seem puzzling. And it actually suggests that the too-big-to-fail banks had inside information, the Fed’s statement, and used it to short the stock, bond and gold markets….
“They (banks with inside information) cleaned up on this Fed statement. It’s entirely possible that’s what the Federal Reserve is doing is orchestrating events that make huge profits for the banks, and that this is the way it recapitalizes them.”
Eric King: “What were your thoughts on the gold and silver smash?”
Dr. Roberts: “Well, it’s clearly intended to drive down the price because they always pick the most unlikely time that anybody who wanted to unload a position for best price would never pick (to sell). They pick a time when unloading a position like that is guaranteed to drive the price down the most.
That’s the giveaway that they are trying to drive it down. The other giveaway is the amounts that are suddenly unloaded at one time. No real investor would unload any position in that way. So these are obviously orchestrations (by the Fed) and that is the intent (to manipulate gold and silver lower).
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