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Jean-Marie Eveillard continues:
“To the extent that the central banks continue to print, and at some point the European Central Bank will print again, I think we have the conditions for the pure paper money system, which has been in place now for more than 40 years, to continue to fray at the edges.
So what I’m saying is that I have no idea where the price of gold will go over the short-term, but I think from a medium-to-long-term standpoint the conditions continue to be quite ripe for the price of gold to go up again. Now I understand that Goldman Sachs has recently produced a paper which is negative towards the price of gold....
Continue reading the Evaillard interview below...
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“I must say I haven’t read the paper. I haven’t read the paper (Eveillard laughs) because I’ve read quite a few papers from Goldman about the price of gold over the past 10 or 15 years and I’ve found none of them of any particular interest.
Maybe because they are a major financial institution, so they don’t want to antagonize ‘the powers that be,’ they don’t seem to look at it (gold) as a substitute currency. It’s a substitute because the dollar is not what it should be (in terms of acting as the world’s reserve currency). Sometimes I say to myself when I’m in a good mood, ‘Wall Street is nothing but a vast promotion machine.’ When I’m not in a good mood I tend to think, Wall Street may be, after all, a den of thieves.”
Eric King: “Jean-Marie, they’ve had the smash on gold recently, and even a little bit on silver, when people are going through that, what do you say to them to get them to hang on?”
Eveillard: “That it is a secular bull market. That as long as the central banks, do not take steps, which I do not think they will, to stop printing money, and as long as real interest rates are not positive, the conditions continue to be very good for gold.
At some point, either the price (of gold) goes through the roof and the movement becomes parabolic, and that would indicate the end is near, or the central banks change their tune. But they don’t seem inclined to do so.
So as long as that (money printing) continues I think it’s positive for the price of gold. Every now and then it will be weak for whatever reason, but as long as conditions are good one should not worry. I’m not selling any of the gold I own.”
This was an incredibly powerful audio interview with Eveillard. He discusses the big picture and what to expect going forward from central planners, the gold market and much more. The audio interview with Jean-Marie Eveillard is available now and you can listen to it by CLICKING HERE.
© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
The interviews with Rick Rule, Jean-Marie Eveillard, Stephen Leeb, Pierre Lassonde, Gerald Celente and James Turk are available now. Also, be sure to listen to the other recent KWN interviews which include Bill Fleckenstein, John Hathaway, Egon von Greyerz, Ben Davies, Nigel Farage, Eric Sprott and Art Cashin by CLICKING HERE.
Eric King
Eveillard: Wall Street Is A Den Of Thieves, I’m Not Selling Gold
Today legendary value investor Jean-Marie Eveillard, who oversees $73 billion, told King World News, “I say to myself when I’m in a good mood, ‘Wall Street is nothing but a vast promotion machine.’ When I’m not in a good mood I tend to think, Wall Street may be, after all, a den of thieves.” Eveillard also tore into Goldman Sachs for their bearish call on gold, and went on to emphatically state, “I’m not selling any of the gold I own.”
Here is what Eveillard had to say: “What’s catching my eye is the Fed is printing enormous amounts of money. Meanwhile the Bank of Japan, which up until recently had been quite reluctant to print money, Mr. Abe has now indicated without any ambiguity they will print very freely. ”
© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
January 25, 2013
