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Hong Kong fund manager identifies refinery recasting central bank gold
4p ET Tuesday, July 16, 2013
Dear Friend of GATA and Gold:
Interviewed by the German financial journalist Lars Schall, who is certainly getting around today, Hong Kong fund manager William Kaye elaborates on his interview last week with King World News --
-- and identifies the Hong Kong gold refiner that is recasting Western gold, including Western central bank gold, for the Asian market.
Kaye remarks that this movement and recasting of gold should hardly be a sensation because it is completely consistent with everything known about the current gold market.
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Kaye also denounces Western exchange-traded gold funds as facilitating "enormous potential mischief and abuse" of gold investors at the hands of the bullion banks that are exclusively authorized to put gold into and take gold out of the funds.
The U.S. Federal Reserve and Bank for International Settlements, Kaye says, are backstopping the bullion banks in the gold price suppression scheme to control the currency markets.
Kaye also says that in accepting such a long period for the repatriation of its gold from the Federal Reserve Bank of New York, the German Bundesbank isn't serious about getting the gold back because it knows that the gold really isn't available.
It's a tremendous interview, 23 minutes long, and it's posted at the German Internet site The Metal Week here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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