...It's Only A Matter Of Time.
The Assault On Gold — Paul Craig Roberts
April 4, 2013
If Bullion Were Not a Threat Government Would Not Attack It- Paul Craig Roberts
By Greg Hunter’s USAWatchdog.com
You want to know why gold and silver prices are down? Listen to former Assistant Treasury Secretary Paul Craig Roberts. He says, “When gold hit $1,900, the Federal Reserve panicked because they realized with the dollar deteriorating so rapidly, compared to bullion prices, that soon it would also deteriorate its exchange value with other currencies.” So, Dr. Roberts contends, “The Fed had to cap the price of gold and stop the rise. . . . If bullion (gold and silver) were not a threat, the government would not be attacking it.” Not only is the Fed debasing the dollar, but the Fed and IMF encourage other countries to do the same thing. So, gold will continue to be acquired, and Dr. Roberts, who holds a PhD in economics, goes on to say, “They can’t forever suppress the gold price because if you look at actual demand for physical possession of the metal, it continues to rise. . . . They are desperately concerned about the dollar.” Join Greg Hunter as he goes One-on-One with Dr. Paul Craig Roberts.
Jim Sinclair - The Coordinated Attack On The Gold Market
Today Jim Sinclair spoke with King World News about the massive and coordinated attack on the gold market. Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had to say in this interview.
Sinclair: “Today was a coordinated attack on gold. We had the Goldman Sachs recommendation to short gold. We also had the Federal Reserve Open Market Committee notes quite unusually released before the opening. Then we had the mainstream media focus on the sale of Cyprus gold, and Mrs. Lagarde on the wire telling people everything was fine with the economy.
The market in gold has significantly changed....
“It’s no longer the investment banks vs a community of investors who feel that gold is undervalued, but rather it has shifted, as you can see in trade figures, to major accumulation by sovereign central banks such as Russia and China.
It is also important to note that in Europe gold has been marked-to-market as far as their reserves are concerned. So the focus of today’s totally transparent attempt to discredit gold is that, yes, it will have an effect on the paper market, but it will have no effect whatsoever on the physical market where in fact the sovereigns trade.
Sovereigns don’t trade on the COMEX, they never would. Rather sovereigns trade in the physical market in London and elsewhere, and they take delivery of the gold they have purchased.
The intention of central planners is to remove concern from the general public. Yesterday we had to listen to almost embarrassing backpedaling on the definition of the bail-in, which has now been converted to the need for banks to hold additional reserves from their earnings in order to be able to have the funds to meet emergencies.
Incredibly Important Developments In Gold & Silver Markets
Today King World News is reporting on incredibly important developments taking place in the gold and silver markets. Acclaimed commodity trader Dan Norcini told KWN that “What we are seeing is a battle of titans taking place in the gold, silver, and commodity markets.” Norcini also warned that this is a similar type of setup in which the silver market moved a staggering 525% higher, and gold advanced 183%.
Norcini has been stunningly accurate in his predictions of the movement in the gold and silver markets. Now the acclaimed trader discusses these incredibly important developments in both of these markets: “What Japan is doing right now is unprecedented. The Japanese are engaged in massive QE. Their current version of QE actually exceeds the size of what the Fed has done when you compare the scale of both economies.
The world continues to witness tremendous turmoil in the currency realm, and Japanese institutions hold a staggering $6.34 trillion of government bonds, in the face of a plunging yen and virtually no yield on their bonds. What this is creating is a massive flight of money out of Japan.
This is impacting key markets around the world. Yesterday, as an example, we saw a tremendous rally in silver, solid strength in gold, and a big rally in the mining shares. But this move is very different than what we have seen in the past. This strength in gold, silver, and key commodities, is taking place as money is fleeing Japan....
“So we have Japanese institutional money flowing into gold, silver, and other key commodities at a time when the hedge fund short positions are the largest they have been in many years.
Goldman's gold short call mocked by GGR's Arensberg
Submitted by cpowell on Wed, 2013-04-10 15:33. Section: Daily Dispatches
11:28p ET Wednesday, April 10, 2013
Dear Friend of GATA and Gold:
Gene Arensberg of the Got Gold Report today mocks Goldman Sachs' claim to be taking a short position in gold.
Arensberg writes: "Much more likely is that Goldman is already nearly maxed out on their short position for the yellow metal and, following the news from the Bank of Japan of massive new money printing, and following gold fetching up above its important $1,525 technical support, and needing new 'blood' on the short side, the Goldman gang felt the need to call in some public negative reinforcement."
Arensberg's commentary is headlined "Gold Prices Hit by Goldman Forecast Cut, Fed" and it's posted at the Got Gold Report here: