Hathaway: Gold Manipulation – Banks Are Agents Of The State
July 18, 2012
Today four-decade veteran John Hathaway told King World News, “People have talked about gold manipulation … There is tremendous corruption in the banking system, and I think the banks are now essentially agents of the state, more than they ever have been.” The prolific manager of the Tocqueville Gold Fund also warned, “… people are concerned that their liquid assets are not safe,” and “… there is enough in the system, right now, to justify gold trading well above $2,500.”
Here is what Hathaway had to say: “All of us look at the fundamentals and say, ‘How can gold not be $2,500?’ I remember back in 2008, and I asked myself, how can gold not be at a much higher number? What I learned then is the causes for gold to be trading higher are there, but you don’t get instant gratification in this game.”
John Hathaway continues:
“Let’s not forget we are fighting the powers that be, and they don’t want to see gold going to $2,500. So they are trying to paint the tape. People have talked about gold manipulation, and now we know that banks have manipulated LIBOR. There is tremendous corruption in the banking system, and I think the banks are now essentially agents of the state, more than they ever have been.
So that’s just one more reason to be distrustful of financial assets you have in the banking system….