Banks Poised For Gold & Silver Turn As Central Planners Panic

With the Fed decision taking place, and continued volatility in gold and silver, today John Embry complained about kitco’s “gobbledygook” reporting, and he stated that central panners are panicking, which is why Bernanke is leaving the Fed.  Embry also spoke with KWN about physical gold demand, what the Chinese are up to, and what to expect from the price of silver going forward.  Below is what Embry had to say in this powerful interview.

Embry:  “Yesterday was another one of those days where the stock market was up sharply and the gold market was down significantly.  It’s frustrating for anybody who recognizes what’s going on.  If they were really worried about a Fed ‘taper,’  the stock market should be getting crushed.

The fact that the stock market was surging says to me that there will be no Fed tapering.  As this becomes obvious to gold market participants, the Fed will have achieved its goal of having the gold price rebound from a depressed level.  So gold remains chronically underpriced.

But I think all of this is a major ‘holding’ action.  I see the second half of the year being chaotic….

“At that point gold and silver will finally reflect their true values.  The other thing that is getting to me is the commentary coming from the mainstream world.

I believe it is orchestrated because they are hammering away in a negative manner against gold and silver.  I was just looking at one (article) that popped up on kitco, ‘Gold Weighed By Downside Risks – UBS.’  They (kitco) said, ‘Gold is suffering from an atmosphere that is clearly difficult for gold at the moment and downside risks loom.’  Whatever the hell that means.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/19_Banks_Poised_For_Gold_%26_Silver_Turn_As_Central_Planners_Panic.html

Former White House Official Discusses Gold Manipulation

Today King World News interviewed the former Special Assistant to the President of the United States for Economic Policy and former member of the U.S. President’s Working Group on Financial Markets.  While in the White House, Dr. Philippa “Pippa” Malmgren served as financial market advisor in the White House and functioned as the liaison between the White House and the Federal Reserve.

Dr. Malmgren formerly headed the Global Asset Management business for Bankers Trust in Asia, out of Hong Kong, and was also Chief Currency Strategist for Bankers Trust Company, and former Head of Global Investment Strategy at UBS.  Dr. Malmgren was also a senior consultant to Deutsche Bank, and currently advises the largest sovereign wealth funds, hedge funds, and pension funds in the world. 

Eric King:  “What caused or who caused the crash in gold?”

Dr. Malmgren:  “It is true that governments hate it when gold starts going through the roof, especially when they are in the midst of the largest devaluation, currency debasement strategy ever known….

“We have never seen so many large industrialized economies all adopt this strategy simultaneously.  So naturally that does make governments nervous.

And I’m not sure it’s such a surprise that some of the biggest banks were heavily short (gold) and putting out notes to the marketplace saying, ‘This (gold) definitely should go down.’  Then there were some very, very large transactions, historically large transactions that happened within about half an hour on that Friday morning.”

Eric King:  “When you say ‘large transactions,’ we reported that day the massive 500 ton paper (gold sale) transaction that went through the market in a very short period of time, I think it was about 15 minutes.  Nobody sells that way that has any brains.  So the manipulation is obvious there, isn’t it?”

Dr. Malmgren:  “I can see the point.  It’s interesting that everybody has been screaming for an official investigation into this and it looks like that’s not going anywhere.  So the bottom line is we will never know.”

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/7_Former_White_House_Official_Discusses_Gold_Manipulation.html

Former White House Official – Expect More Government Theft

Today the former Special Assistant to the President of the United States for Economic Policy and former member of the U.S. President’s Working Group on Financial Markets issued a disturbing and even frightening warning to King World News to expect more government theft going forward.  While in the White House, Dr. Philippa “Pippa” Malmgren served as financial market advisor in the White House and functioned as the liaison between the White House and the Federal Reserve.  

Dr. Malmgren formerly headed the Global Asset Management business for Bankers Trust in Asia, out of Hong Kong, and was also Chief Currency Strategist for Bankers Trust Company, and former Head of Global Investment Strategy at UBS.  Dr. Malmgren was also a senior consultant to Deutsche Bank, and currently advises the largest sovereign wealth funds, hedge funds, and pension funds in the world.  Below is what Dr. Malmgren had to say in the third and final of a remarkable three part interview series which has now been released on King World News. 

Dr. Malmgren spoke about government theft going forward:  “Look, we are in a world where every major industrialized government doesn’t have the funds to deliver on the promises they’ve made to the public.  So they are going to reach for the public’s cash in different ways….

“Some of it is through higher taxes.  Some of it is what I would call ‘expropriation,’ although taxation and even inflation are a version of that.  But for example, Portugal, about a year ago, announced that they were nationalizing three of Portugal Telecom’s pension funds and placing the assets on the government’s balance sheet so that the government’s balance sheet would look better for the purposes of negotiating with the EU.

Now, were those pensioners expropriated?  Yes.  It made page 14 of the Wall Street Journal and the Financial Times, as if it was a non-event.  But I think what we saw in Cyprus, a really overt expropriation, we are going to see that come in lots of different forms (going forward).  Some of it will be obvious like Cyprus.  Some of it will be subtle like Portugal, but what’s sure is that it’s happening.”

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/8_Former_White_House_Official_-_Expect_More_Government_Theft.html