Kaye – This Move To Destroy Confidence In Gold Has Failed
April 20, 2013
Today outspoken hedge fund manager William Kaye told King World News that the central planners’ move to destroy confidence in gold has failed. Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions and who is the founder of Pacific Group in Hong Kong, had this to say in part II of an outstanding two part series of written interviews that has now been released.
Eric King: “Bill, you spoke on KWN last time about gold eventually seeing the greatest short squeeze in history. How has this takedown in gold and the corresponding physical offtake affected your thoughts on how this squeeze will unfold going forward?”
Kaye: “Well, as I said earlier, these guys are evil, but they are not stupid. There is a real possibility that, despite the fact there was a reasonable gambit that they could succeed in shaking confidence, and I think that certainly was one of the key motivations here over the last week, (central planners were thinking) ‘Let’s destroy the psychology that accompanies a 12-year bull market. Lets’ see what we can do to destroy that psychology. And maybe we can extend the regime that we want for a bit longer than would otherwise be the case.’
That’s an interesting gambit, and I have to say I could see why reasonably bright people would think that could work, and there have been cases in history where it has worked. But it’s not working….