Today one of the savviest and well connected hedge fund managers in the
world spoke with King World News about the smash in the gold and silver
markets and what to expect going forward. Outspoken Hong Kong hedge
fund manager William Kaye also discussed the stunning volume in the gold
and silver markets, as well as the suspect nature of the trading, and
the propaganda coming out of the U.S. Federal Reserve. Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, had this to say in his tremendous interview.
So
passing the baton to London we will have already traded 100,000
contracts. A normal night (during Asian trading) would be 20,000, to
put that in perspective. So the question is, who is selling all of
these contracts at levels that are multi-year lows? Who’s so keen to
sell?
So
where are the ‘several members’ that don’t like this policy? Where is
the legitimate debate? If I won a baseball game 10-2, I won it pretty
decisively. I really don’t understand this concept (by the Fed). This
has been propagated now for some period of time as if there is
legitimate tension in these FOMC meetings.
Read More: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/20_Stunning_Volume_On_Gold_%26_Silver_Smash_In_Suspect_Trading.html
Eric King: “We
are in the midst of a massive gold and silver plunge here, Bill. What
are your thoughts on the action we are seeing?”
Kaye: “It’s
the end game of a fantastic manipulation of the markets. I’m looking
at my screen now as we talk, Eric. I’m in L.A. (Los Angeles), but we
are still in Asian (trading) time with London just coming in at the
moment, and we’ve traded over 94,000 contracts.
“And if you need to
sell, why are you selling at the worst time of day? Why are you selling
in Asian time, which is always the thinnest section of trading? Why
don’t you wait for London and Chicago to take over?
And the
answer is very obvious: These markets are clearly and blatantly being
manipulated. The people doing it have clear price objectives. My guess
is they want to see a print below $1,300 (on gold) before they are
done. That will allow people (trading for the bullion banks) to make
profits on their shorts.
The
bullion banks, from the Commitment of Traders Reports that we’ve seen
plus other information that we’ve gathered, strongly indicates that the
banks, which are the centerpiece of this conspiracy, have shifted
rapidly from being on the edge of default, as ABN AMRO has already done,
to being net long, and in some cases being very net long.
So they
(bullion banks) have taken the opportunity that’s been provided by the
cover from what would appear to be official intervention, in what I
suspect is the Fed and possibly the ECB, to take the other side of that
trade. Now they are extremely net long and that sets the stage, in
addition to a very promising technical picture, for a very powerful
rally as we look at next week, into July and beyond.
The second half (of the year) could be extremely explosive on the upside for gold and silver as well.”
Eric King: “For the last
two days we’ve had Fed propaganda, and now we’ve seen the US dollar
start to move sharply higher (in tandem) with this gold and silver
smash. Your thoughts on the Fed and what they are saying?”
Kaye: “It’s
all part of one big manipulation. It’s all absolute bullshit. They
(the Fed) didn’t say anything new. And you might recall that we’ve
gotten for several months now FOMC minutes that said ‘several members
disagreed with the existing QE policies.’
Well,
that’s very interesting because I always thought that several always
meant more than two. You would say, ‘one member,’ or you would say,
‘two members,’ but you wouldn’t say, ‘several members.’ So it’s a real
misuse or abuse of the English language. (George) Orwell would approve.
If
we’re to believe what the Fed has now come out with, which is the vote
has gone from 11-1 endorsing what is a continuation, until we tell you
later, of the most aggressive money printing program in the history of
mankind, then we’ve gone from an 11-1 endorsement of that, to a kabuki
theater 10-2 endorsement.
Read More: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/20_Stunning_Volume_On_Gold_%26_Silver_Smash_In_Suspect_Trading.html