With the U.S. dollar near the lowest level in 6 months, today John Hathaway told King World News a panic into physical gold will cause the price of gold to skyrocket.
John Hathaway: “The war in the gold market is fascinating but it’s the war on cash and the central banks’ policy of zero interest rates that really has my attention. That’s what’s really driving money into gold and I think the central banks are now losing the battle. So I think the real story is the war on cash and the war on savings…
In a King World News interview I spoke with the man who predicted the Swiss National Bank would experience staggering losses and that the Fed would also experience massive losses that will destabilize the global financial system! His company is the only one in the world offering a precious metals investment service outside the banking system, with direct ownership and full control by the investor. He has also become legendary for his predictions on QE, historic moves in currencies, and major global events. To find out what he and his company can do to help answer that age old question for you CLICK HERE.
John Hathaway continues: “We are seeing record inflows into gold ETFs. I’ve been saying for over a year that there is very little gold vaulted in London to support that demand, so you are going to see a scramble for physical gold, which is what the ETFs have to have. That, to me, is the big story.
Investors will buy an ETF and then they will see something like the Barclays ETF have a glitch and they will start to ask questions about whether synthetics or surrogates for physical gold are the right thing to own because of the counterparty risks and the type of things we saw with Barclays.
So we will start to see more investors move up the food chain into physical metal, but the metal just isn’t available at this price level. You will then see a serious scramble for physical gold and that will translate in to much, much higher prices than what is being quoted today.” ***KWN has now released the extraordinary audio interview with legend Art Cashin discussing his greatest fear and the the implication of this for the gold market and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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