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Eric King:  “Dr. Roberts, we have this smash on gold and silver today.  Gold down $75 at one point and silver was down $1.75, your thoughts here?”


Dr. Roberts:  “This is an orchestration (the smash in gold).  It’s been going on now from the beginning of April.  Brokerage houses told their individual clients the word was out that hedge funds and institutional investors were going to be dumping gold and that they should get out in advance.


Then, a couple of days ago, Goldman Sachs announced there would be further departures from gold.  So what they are trying to do is scare the individual investor out of bullion.  Clearly there is something desperate going on....


Continue reading the Dr. Paul Craig Roberts interview below...




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“I have assumed from the beginning that it is the Fed’s concern with the dollar because the dollar is being printed in huge quantities at the same time that other countries are abandoning the use of the dollar as international payment.


The exchange value of the dollar is (being) threatened, and if that collapses the Fed loses control over interest rates.  Then the bond market blows up, the stock market blows up, and the banks that are too big to fail, fail.  So it’s an act of desperation because they’ve got to establish in people’s minds that the dollar is the only safe place, it is the only safe haven, not gold, not silver, and not other currencies.


And to help protect this policy they have convinced or pressured the Japanese to inflate their own currency.  The Japanese are now going to print money like the Fed.  They are lobbying the ECB to print more.  So I see this as a dollar protection policy.


...I know where the gold is coming from in the market, it’s just paper.  It’s naked shorts, there is no gold there.  If somebody wanted to take delivery on those contracts nobody would be able to provide it.  I don’t know what the source of the (physical) gold is.  Some people are saying that the actual stocks available for possession are rapidly declining.”


Eric King:  “Going forward, Dr. Roberts, what do you expect out of all of this?  If the gold is coming out of Western central bank vaults and flowing to the East, the old saying is, ‘So goes the gold, so goes the power.’”


Dr. Roberts: “Well, I think the power of the West has already been lost.  When you have off-shored your manufacturing and professional service jobs, you’ve hollowed out your economy.  So gold or no gold, the United States economy has been severely damaged and I don’t think it can recover.


This gold business (smash in price) is something to do with the dollar.  They are trying to save this Federal Reserve policy of negative real interest rates.  You can’t do that if the dollar loses value relative to gold because it implies it should be losing value relative to other currencies.


If the dollar’s exchange value drops, then the price of imports that come in here (to the US) rise.  So you get domestic inflation, and if you have domestic inflation you can’t have zero interest rates, or negative real interest rates.  So the Fed would lose control and that’s the basis of this policy.


They are trying to destroy gold as a (safe) haven from the dollar in order to carry on the Fed’s policy of negative real interest rates.  That is what is driving the illegal policy of selling naked shorts in order to manipulate a market.  If you and I were to do something like this without the government’s instruction or protection, we would be arrested (laughter ensues).  So the fact that it’s illegal, being done by the authorities, tells me that they are seriously worried about the dollar.”


This write-up is only a small portion of what Dr. Roberts had to say in his extraordinary audio interview.  The KWN audio interview with Dr. Paul Craig Roberts is available now and you can listen to it by CLICKING HERE. 


The audio interviews with Dr. Paul Craig Roberts, Andrew Maguire, Michael Pento, John Embry, James Turk, Art Cashin, Gerald Celente, John Mauldin, Egon von Greyerz and Nigel Farage are available now.  Also, be sure to hear the other recent KWN interviews which include Eric Sprott, Marc Faber and Felix Zulauf 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.


Eric King

KingWorldNews.com

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