Kaye – Expect A Massive Silver Short Squeeze
January 30, 2013
Today acclaimed hedge fund manager William Kaye told King World News that the case for an upside explosion and short squeeze in silver is even more staggering than it is for gold. Kaye, who 23 years ago worked for Goldman Sachs in mergers and acquisitions and who is the founder of Pacific Group in Hong Kong, also believes that countries are in danger of losing their claims on gold which is supposed to be safely stored in London and at the Fed. Below is the third and final of a three part series of written interviews which was released today with the outspoken hedge fund manager from Hong Kong.
Eric King: “Bill, I’m going to take a little bit of a trip back in time with you to the Drexel Burnham failure. We interviewed Keith Barron about this. He spoke about the fact that Drexel had 17 tons of Portugal’s gold under lease. They (Drexel) had control of it. They failed. Portugal lost all 17 tons of that gold.
Their (Portugal’s) claim on that paper (gold) vanished when Drexel went under. These countries have to realize there is a danger that they could literally lose their claim on their gold that’s held at the Bank of England, at the Fed, if they are doing business with these bullion banks (through leasing), and they fail. Their claim is gone, it evaporates.”
Kaye: “That’s right. People (and countries) have to evaluate and be comfortable, themselves, with the condition of the global financial system. We know we were on the cusp of what could have been and probably should have been a systemic global financial meltdown just a few years ago….