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Hathaway:  “It feels like the market is starting to turn more positive for gold and precious metals.  We’ve had this very sharp correction in Japan and the Japanese bond market is in shambles.  We’ve seen interest rates here start to edge higher, and of course in the last few days the stock market has started to falter.


While it’s still early in the whole process, I have a sense that this is approaching some critical points for gold....


Continue reading the John Hathaway interview below...




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“Frankly, what we’ve been fighting in gold is that the stock markets have been strong and provided good returns, and therefore they have been competition for precious metals. 


So if we see a reversal of that, I think it will bring people back into the precious metals space.  They will come back if for no other reason than defensive positioning.  But if we take a step beyond that, I’m just wondering if this extreme monetarist experiment in Japan is the beginning of the end for QE.  By that I don’t mean that there won’t be more money printing, but more along the lines that all of the policies which have been employed for the last 5 years haven’t worked.  Therefore, something even more radical may be in the wings. 


We are also beginning to see some very soft economic statistics here in the US.  Most investors had believed the economy here was on the mend.  If that turns out not to be the case, then what’s the next move for the Federal Reserve?  So I think all of these things are setting up very, very well for gold. 


Gold as we all know and painfully so, has been crushed.  In a way gold is exactly where it was at the bottom in 2008.  If you look at the COMEX numbers, the commercial position is as pro-gold and the least short going all the way back to 2008.  And somehow these guys know how to pick their spots.


All of that leads me to think that we’re set up for a tremendous rally.  Hopefully, and this is certainly my belief, the next leg in the bull market is now under way.  It’s only fitting that everyone has been frightened out, and basically shaken out of gold.  It’s almost necessary for that to be the case for the next leg of the bull market to start.”


Eric King:  “John, when you look at this long correction in gold it hasn’t been as bad as the mid-cycle correction in the 1970s when the price of gold was literally chopped in half, but it has been one hell of a brutal correction.  I’m just wondering what your thoughts are in the aftermath of this and what investors have had to endure mentally?”


Hathaway:  “It’s been incredibly tough.  The thing that made this rougher this time vs 2008 is that gold was singled out as the worst place to be.  Back in 2008 everybody was losing money in everything.


But this time around, and I’ve saved all of the articles starting with the Credit Suisse thing, and the negative Goldman call, these things are all evidence that gold is as contrary and as out of favor today as it was when we started our gold fund back in 1998.


So contrary opinion to me is always something you want to have on your side.  Gold is now considered to be toxic, and a lot of the establishment types have been taunting anybody that has any exposure to gold and trying to make us feel as stupid as possible.  The bottom line is I’m going to enjoy watching a lot of these nitwits eat crow.”


© 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.


To learn more about John Hathaway and his management services CLICK HERE.


The audio interviews with Bill Fleckenstein, Eric Sprott, Dr. Stephen Leeb, Rick Rule, Gerald Celente, Jim Grant, Michael Pento, Egon von Greyerz, Andrew Maguire and Art Cashin are available now.  Also, be sure to hear the other recent KWN interviews which include MEP Nigel Farage, Marc Faber and Felix Zulauf by CLICKING HERE.


Eric King

KingWorldNews.com

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