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Fed smashing metals to guard dollar against hyperinflation, Roberts tells KWN

Section: Daily Dispatches

5p ET Friday, April 12, 2013

Dear Friend of GATA and Gold:

Former Assistant Treasury Secretary Paul Craig Roberts tells King World News today that the smashing of gold and silver prices is a Federal Reserve campaign to defend the U.S. dollar against a hyperinflationary scenario.

"The exchange value of the dollar is threatened," Roberts says, "and if that collapses the Fed loses control over interest rates. Then the bond market blows up, the stock market blows up, and the banks that are too big to fail, fail. So it's an act of desperation because they've got to establish in people's minds that the dollar is the only safe place, it is the only safe haven, not gold, not silver, and not other currencies."

An excerpt from the interview is posted at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/12_Fo...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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