This Is What Is Going On Behind The Scenes In The Gold War
KingWorldNews.com
December 9, 2012
Today 40-year veteran John Hathaway spoke with King World News about what is going on behind the scenes in the gold war. The four-decade veteran and prolific manager of the Tocqueville Gold Fund discussed what is happening with central banks and large private wealth in terms of gold purchases and ongoing dialogues. Yes, Hathaway also had something to say about Goldman’s call.
Eric King: “John you had mentioned to me before we went on the air that one of the reasons Goldman (Sachs) may have made that call (for the end of the gold bull market) is because they are trying to buy gold for China on the cheap. I know you’ve seen the chart from Egon von Greyerz that shows Chinese gold production, plus net imports. It’s a shocking chart when you really look at the growth there.”
Hathaway: “Absolutely. Look, it’s not just China. Central bank buying, I’ve seen it in a couple of places and we track it, has really picked up. So what does that tell you? It tells you that people who are long our paper, they are starting to get it.
They sort of understand that one way or another they are going to get screwed because there is no way out for the US other than to keep rates in negative territory right across the yield curve. So why would you not diversify? And what are you going to diversify into? Are you going to go into the euro? I mean good grief, give me a break.
The Rest…HERE
