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This Move To Destroy Confidence In Gold Has Failed
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. Let’s 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….
“In fact, what is happening is that while the psychology of certain hedge funds and traders may have been affected, and have mark-to-market losses who were long, the general public is responding in a way that they (central planners) are probably not very happy with.
Read More: http://economicrisis.com/this-move-to-destroy-confidence-in-gold-has-failed/5447
