Today David Stockman, the man President Ronald Reagan called upon along with Dr. Paul Craig Roberts to help save the United States from disaster in 1981, spoke with King World News about central bank monetary fraud and the destruction of financial markets. This interview also contains just a small portion of what Stockman had to say about the gold market.
Eric King: “David, let me ask you about the gold market. Obviously we have tremendous demand from all over the world as they (Western central banks) artificially push the gold price lower. Demand explodes every single time. That’s what happens inside of a secular bull market, even though we are in a cyclical bear phase right now.
But everybody is aware that the offtake of physical gold is far greater than worldwide production on an annual basis. So what that means is that the U.S. Fed goes into the New York vault, where they have other countries’ gold, we’re talking about Germany and every country that has gold sitting in that vault, and they loot that vault.
They then go into the physical market and they dump that gold in the physical market until they run out of gold to conduct those types of operations — similar to what happened in the 1960s when the London Gold Pool was overrun.
Why this obsession, this dogged obsession, with taking the gold market lower at all costs, until every single ounce of gold is gone out of that (N.Y. Fed) vault, from every country in the world that has their gold stored there?”
David Stockman: “It’s part of the larger context of a central bank dominated financial system. These central banks are run by Keynesian academics who believe that 12 people sitting on the Open Market Committee here (at the Fed) or an equivalent number at the ECB and the Bank of Japan can somehow figure out the right price for money and the right price for every maturity of debt…
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David Stockman continues: “They think they can cause people to believe that they are richer than they are by inflating bubbles in real estate, stock markets, and every kind of risk asset. That whole regime obviously has to be, by its very construction, by its very predicate, hostile toward gold because gold is the ultimate rebuke to central bank money-printing and central bank manipulation and destruction of honest price discovery and honest financial markets.
So that battle is going to be there until the central banks and the current Keynesian regime are repudiated and visibly fail and I think that moment is not too far down the road. As people realize this whole (Ponzi) scheme is essentially a monetary fraud, then there will be a tremendous run back into a…To continue listening to one of the most extraordinary KWN audio interviews ever with David Stockman, CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: David Stockman – This Will Scare The World To Death CLICK HERE.
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