“The Price Damage Is Almost Beyond Belief At This Point”

Today one of the savviest and well connected hedge fund managers in the world told King World News the price damage in gold and silver “is almost beyond belief at this point.” Outspoken Hong Kong hedge fund manager William Kaye also warned KWN that a “criminal” syndicate of banks has now positioned themselves for a massive and spectacular rise in the price of gold and silver, and his firm’s money is long metals for the ride. Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, had this to say in this remarkable interview.

Eric King: “Bill, your thoughts on this continued smash in gold and silver that we are seeing?”

Kaye: “It’s more of the same, Eric, that we talked about last time. They choose the thinnest sections of trading in gold, Asia time, for most of the smash. Most of the price damage was done overnight in the United States during Asian trading.

They took the price of gold down to levels that we haven’t seen for years….

“As I talk to you now we are now trading in the $1,220s, which is a new multi-year low. So the bulk of the damage was done in two time periods: In Asian trading and in equally thin Chicago (COMEX) trading, when most of the real players have already gone home.

The price damage is almost beyond belief at this point. Two years ago we were above $1,900 on gold and rightfully so given all of the events that were occurring and are still occurring. Now we are in the mid-$1,220s, which given the policy response to what is an ongoing crisis, is incomprehensible.

No one can make any logical sense of what has taken place because the currency wars that are fully underway everywhere in the world justify gold prices that are not only higher than they were two years ago (above $1,900), but they justify prices in our view that would clearly be above $2,000 and maybe even above $3,000.

Those prices I am giving you are the prices gold should be trading at today. Meaning they are not looking out on to the horizon because the money printing that is going on is not going to stop tomorrow. In fact it’s going to continue and if anything, in our view it will accelerate.

So the only thing that can explain the price behavior in gold has to be a concerted raid. What is of particular interest is that this manipulation really has to be the Fed, or coordinated intervention with the other central banks, including the ECB. The reason for this is because it’s very clear, if you pay attention to Andrew Maguire on KWN, that the bullion banks who were very short when this raid commenced in mid-April, are now long, and some are very long.

So the setup here is pretty fantastic. For people that are looking to add to their positions, we are certainly at levels now that look absolutely compelling, and levels that we may not revisit again in my lifetime.”

Kaye also added: “I strongly believe this is being done to create even more outsized profits for the bullion banks. We had a very controversial recapitalization of the banks, similar to what occurred in the 1930s in the United States, and most of the world at that time was on a gold standard.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/26_The_Price_Damage_Is_Almost_Beyond_Belief_At_This_Point.html

A Legend Speaks Out About The Gold & Silver Takedown

On the heels of extraordinary turbulence in the gold and silver markets, today legendary Pierre Lassonde spoke with King World News about the takedown in these key markets.  Lassonde also told KWN what to expect in the gold and silver markets going forward.  Lassonde is arguably the greatest company builder in the history of the mining sector.  He is past President of Newmont Mining, past Chairman of the World Gold Council and current Chairman of Franco Nevada.  

Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom with our global readers during this critical period in these markets.

Eric King:  “We obviously had another smash in gold and silver.  What are your thoughts here Pierre?”

Lassonde:  “Every year in June or early July is always the point of maximum stress for gold and silver.  This year is no exception.  When I look at gold in particular, if you go back 1974 to 1976 we saw a 47% retracement in gold.

If we were to see something like that today, gold would go slightly below $1,000.  Could it happen?  Yes, of course anything can happen, but I doubt it.  A 40% retracement is slightly below $1,200.  We’re almost there on gold already….

“So my feeling is we are seeing the maximum stress right now.  I think $1,200, plus or minus $30 is where you are going to see the bottom in gold.”

Eric King:  “Pierre, what are you doing with your own money right now?  Are you buying?”

Lassonde:  “Yes.  Actually I started buying this week.  I think there are a number of gold equities that are absolute bargains.  The liquidity trap has forced a lot of funds to sell.  But money is still leaving the sector.  That’s one of the reasons you are seeing this amount of stress.

But I am absolutely 100% convinced that come September gold is going to be 20% to 30% higher than it is today and the stocks are going to be 50% higher.  So what am I doing?  Yes, now is the time to put money to work and that’s what I’m doing.”

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/27_A_Legend_Speaks_Out_About_The_Gold_%26_Silver_Takedown.html

The Government Is Going To Steal Your Money

On the heels of yesterday’s drubbing in the gold and silver markets, MEP Nigel Farage spoke with King World News about recent turbulence in key markets, and also warned KWN readers to expect more government theft as Cyprus is used as a template to steal money from citizens in the future. Below is what Farage had to say in part II of his powerful interview series.

Eric King: “I wanted to ask you about your thoughts on the propaganda coming out of the Federal Reserve (as we go through this orchestrated smash in gold and silver).”

Farage: “The fact is that America is living massively beyond its means. Pursuing policies that really are not in the interests of America. They are just a means of keeping the whole thing (financial system) propped up.

I thought we had learned the lessons in the past. Money printing leads to disaster….

“And Bernanke saying, ‘We might ease back towards the end of the year,’ doesn’t get away from the fact that we’re still borrowing and we’re still printing. It’s just astonishing to me that the great public doesn’t seem to be engaged in this debate.

The Chancellor in Britain goes on commercial and national BBC television and radio, and tells us that, ‘he’s cutting.’ He talks about the cuts to the budget deficit. Well, we’re still adding to our national debt at nearly 10% per annum. So I think there is really an entirely false debate going on on both sides of the Atlantic.

But what we do know is that the next time a country gets into trouble, what we saw in Cyprus a few months ago is going to be used as a template. And the German, Finnish and the Dutch taxpayers are not going to be happy with lots more of their money being transferred to the Mediterranean countries, and so they will use the template for Cyprus and just steal the money from investors.”

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/21_Nigel_Farage_-_The_Government_Is_Going_To_Steal_Your_Money.html