Art Cashin – Danger For The US & Strange Happenings In Gold
October 11, 2013
Today 50-year veteran Art Cashin warned King World News about the enormous dangers the United States faces, which could wind up creating tremendous turmoil around the globe. Cashin, who is Director of Floor Operations at UBS ($650 billion under management), also spoke with KWN about strange happenings in the gold market.
Eric King: “Art, you’ve been doing this for 50 years, and you’ve done a great many things on Wall Street. But you also traded gold, and I always ask you about gold.”
Cashin: “Well, it (gold) is under some pressure. And while I am far from being a conspiracy theorist, I could see where some of the people involved in that asset class would be concerned because we’ve had several incidences of very large sales.
And they all seem to come at approximately the same time in the relatively early morning in New York, usually before the stock market has opened. The question there is, why would you suddenly dump a large amount of gold? Why wouldn’t you try to piecemeal it out over the (course of the) day?
So, if that happens once it could be an accident of technology, or it could be a simple error. But when it happens 5 times over a period of months, it does raise questions. Is it being done purposefully? Is somebody trying to send a message? Is somebody trying to influence the market?
We don’t have enough details, but as I say, as a guy who doesn’t ordinarily believe in conspiracy theories, I think there should be some further investigation as to who is selling, and why always at that time?”