“The Gold System Is Based On Trust & Trust Is Breaking Down”…(Must Read!)
July 24, 2013
Today one of the savviest and well connected hedge fund managers in the world told King World News that unprecedented events taking place in the gold market signal that the all-important trust in the delivery system is now breaking down. Outspoken Hong Kong hedge fund manager William Kaye also spoke about what the breakdown in trust in the delivery system means for the future gold price. Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, had this to say in his fascinating and powerful interview.
Kaye: “Part of the reason we’ve had this smash on gold is because it was very important to the central bankers and to the BIS that gold and silver not be seen as a viable alternative currency. The reality is that the physical above ground stock of gold only increases at roughly 1% to 2% each year,whereas the amount of digital money that is printed by the Federal Reserve of US dollars greatly exceeds that by a huge factor….