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GGR's Arensberg, Tocqueville's Hathaway sense a short squeeze in gold
9:45p ET Thursday, July 11, 2013
Dear Friend of GATA and Gold:
The Got Gold Report's Gene Arensberg tonight compiles the major elements of what could be "the stuff of a gold bear reversal" and a massive short squeeze:
Tocqueville Gold Fund manager John Hathaway offers similar ideas in an interview with King World News. "Sentiment is ripe for a complete reversal on gold, and a very sharp one," Hathaway says. "We know the market is structured in a way that is very vulnerable to a short squeeze, which I think has already started, but we are still in the very early stages of it. We have had a lot of false starts in the gold market, but this one sure looks like a massive upside reversal will soon be upon us.”
Hathaway also speculates that the U.S. government may try to escape infinite bond monetization by requiring tax-deferred retirement accounts to maintain 20 percent of their assets in Treasury securities paying interest of 2 percent or less. Why should gold be the only thing subject to confiscation?
An excerpt from the interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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