Oct. 16, 2013
In the aftermath of some wild trading action in major markets, and continued chaos in Washington, KWN is pleased to release the second portion of an interview with one of the savviest and most well-connected hedge fund managers in the world. He stated that “the West is now in the process of destroying itself.” He also warned that “The West is being run by corrupt, evil human beings, and we are now in the final stages of what will be seen in the fullness of time as a catastrophic end game.” Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, had this to say in his fascinating interview.
Kaye: “You and I have talked in the past about how this suppression scheme in gold and silver is prosecuted. One of the footprints we have always looked at is the raiding of the gold ETFs — the biggest and most important ETF which is GLD. It’s been quiet for a while after the initial flurry in the April – June time period.
We track the movements of gold as a firm on a daily basis, and on the 10th of October an astounding 174,000 of gold was taken out of the ETF GLD. So, for the year, GLD has lost an astounding 34% of their gold inventory. This is amazing. That’s almost 15 million ounces of gold which has been looted for the entire year….
“This leaves GLD with just 28 million ounces of total gold, and a very large short interest. So people who own GLD need to understand that it is highly probable that, unlike what the prospectus says, the gold in GLD is not fully backing the paper certificates that investors own.
By that I mean that there is a considerable short interest, which would be the bullion banks, and it’s basically their I.O.U. representing the balance for the gold which has already been looted from London. This gold has been transited to Hong Kong, or Shanghai, or other points in the Far-East. This is something that people need to understand because it’s getting no mainstream media attention.
But when it comes to the ETF GLD, you need about $13 million worth, or 100,000 shares, if you want to redeem the shares for physical gold. We have a number of our sources who have told us directly that JP Morgan and some of the other bullion banks are in fact turning down investors with 100,000 shares who have asked to redeem those shares for physical gold.
Meaning, various entities or high net worth individuals who have presented 100,000 shares or more to JP Morgan for the purposes of redeeming those shares for physical gold have already been told, or are currently being told by the banks, ‘No, we will not act on your behalf.’