(Hong Kong) Kaye – We Will See A Global Financial Meltdown
January 29, 2013
Today acclaimed hedge fund manager William Kaye told King World News that despite the move in global stock markets, another financial crisis is staring the world in the face. He is predicting an increase in interest rates that will create “… a very high likelihood of a global financial meltdown.”
Kaye, who 23 years ago worked for Goldman Sachs in mergers and acquisitions and who is the founder of Pacific Group in Hong Kong, strongly believes the central planners have put the world in the frightening position where once again the financial system will freeze up. Below is part II of a three part series of written interviews that will be released today with the outspoken hedge fund manager from Hong Kong.
Eric King: “Bill, we’ve seen runs on banks, we’ve (also) seen that during the Great Depression, and banks just failed. You are basically talking about a run on gold here that is going to cause this entire paper Ponzi scheme that’s out there in the gold market to completely unravel and for gold to skyrocket.”
Kaye: “Yes. That’s exactly what we see happening. The key question is what will be the catalyst? As we return, and ultimately we will return, to what would be a much more normal level of interest rates around the world, the stock of debt that currently exists in the world cannot and will not be serviced. That is what people (and investors) need to focus on….