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Gold liquidation arises from bullion bank-controlled ETFs, fund manager Kaye says
9:45p ET Tuesday, July 9, 2013
Dear Friend of GATA and Gold:
Hong Kong fund manager William Kaye tonight gives King World News powerful evidence that the supposed bear market in gold is simply a liquidation of exchange-traded funds by the bullion banks that control them.
"That gold," Kaye says, "is being transited from places like London and New York to places like Hong Kong and Shanghai. This is what's happening. There is this major migration of gold from the West to the East. And it's ongoing but we're getting late in the game."
Kaye notes that even as the gold ETFs controlled by bullion banks are undergoing huge liquidations, closed-end gold funds like Sprott Asset Management's have experienced hardly any liquidations at all.
An excerpt from the interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Jim Sinclair to hold seminars in July
in Chicago, Vancouver, and Scottsdale
Mining entrepreneur and gold trader Jim Sinclair is planning more seminars on his view of the markets and gold's prospects -- in Vancouver on Wednesday, July 10, and in Scottsdale, Arizona, on Friday, July 12. Details can be found at his Internet site, JSMineSet.com, here:
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