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Hathaway:  “I think this pullback is a chance to put money to work.  We’ve given up a lot of the gains since the beginning of the year, but we’re still ahead of where we started the year.  So I would say this has been a fairly healthy pullback....


Continue reading the John Hathaway interview below...




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“This has kind of scared people away from the sector.  So as I said, I would say this is probably a good entry point for new money.


I suppose the pullback had something to do with the feeling that Ukraine is kind of yesterday’s news.  Maybe that’s the case, but I don’t think that’s the reason gold is headed higher.  Maybe that situation propelled gold a bit higher than it otherwise would have in the short-term, but that’s not the big story for gold.


I continue to think the big story this year is going to revolve around the investigation into the London fix mechanism.  In this lawsuit there is extensive statistical evidence of price anomalies in the behavior of the gold price around the fix, and this goes back 10 years.


We know that the day after, BaFin, the German equivalent of the SEC, started poking its nose into the fix.  Deutsche Bank resigned its post at the fix, and it wouldn’t surprise me if they’ve got some very interesting goods on some people at Deutsche Bank. 


Now you have all of this notoriety about high frequency trading suddenly because of Michael Lewis’s new book, but I’ve been talking about this situation for quite a while.  And I have thought for some time that you have a symbiotic relationship between the bullion banks and the high frequency traders, and the use of borrowed gold to create synthetic gold.


So I think this whole process is basically going to bring into the daylight a lot of things that most people don’t understand as far as the inner workings of the gold market, and this will be extremely constructive.  At the end of the day, and I have no idea the rate at which this will happen, but it’s going to amount to some sort of a short squeeze, and a scramble for more physical gold -- a preference for physical over synthetic.”  To be continued...


IMPORTANT - KWN has many more interviews being released today.


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The audio interviews with Rick Rule, Ben Davies, Rob Arnott, Dr. Paul Craig Roberts, Andrew Maguire, Art Cashin, Gerald Celente, Egon von Greyerz, Eric Sprott, Bill Fleckenstein, John Mauldin and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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