On the heels of the blockbuster interview with London metals trader
Andrew Maguire, where he told King World News he brought two JP Morgan
gold and silver whistleblowers to a high profile law firm, and also to
the CFTC, today 42-year veteran Egon von Gryererz sent KWN the following
piece which gives readers a snapshot of what to expect in the aftermath
of such an extraordinary development. Below is the powerful Egon von
Greyerz piece.
Continue reading the Egon von Greyerz piece below.
Eric King’s interview with Andrew Maguire
about JP Morgan’s manipulation of the gold market is probably the most
important confirmation of what gold market participants have known for
years. This is not just a validation of the most blatant rigging of the
only market in “real money” but also an extremely important market
moving event.
Since KWN published this interview on Friday afternoon, New York time, gold has moved up $20 in after hours....
“This is at a time when Europe is closed
and the Far East is closed. I cannot remember the last time the market
moved up this much in after hours on a Friday evening.
KWN and Andrew Maguire have
given us the confirmation of what we have known for years, namely that
the gold market is not a free market but totally manipulated by
governments and central banks through their favorite conduits in the
guise of the bullion banks.
For a very long time
governments and central banks have covertly sold and leased their gold
holdings to the bullion banks in order to suppress the price of gold.
But they have not just intervened in the physical market but also
manipulated the paper gold market which is roughly 100 times greater
than the physical market.
This suppression of gold is
Western governments’ desperate attempt to conceal the destruction of
the value of paper money by unlimited printing and credit. Most
currencies have declined 97-99% in value since the creation of the Fed
in 1913. And since 1999, money is down around 80% in real terms, which
of course is gold.
Debt worldwide is now
expanding exponentially. With absolutely no possibility of stopping
this debt explosion, we will soon enter a period of unlimited money
printing leading to a total destruction of paper currencies. The
consequence will be a hyperinflationary depression in most major
economies.