We have just seen another smash in gold and silver. The official manipulation is so blatant it is ridiculous. No one in their sane mind would sell massive quantities of gold and silver in a thin market with no buyers.
The gold price measures confidence in the government or lack thereof. Gold also reveals governments deceitful actions in destroying the value of paper money by printing unlimited amounts of it.
Whilst the West tries to suppress gold by selling in the paper market, the East and in particular China and India continues to buy all the physical gold they can get their hands on.
The gold price is currently where it was in 2010. In the meantime debt in the US has increased exponentially. US money supply is up 50% since then to $10 trillion and the Fed’s balance sheet has expanded by 50% to $3.6 trillion. Also, US Federal debt has gone up by $4 trillion to $17 trillion.
The above is just some of the things I discussed in my King World News Interview.
Egon von Greyerz
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