…suspects mining tycoon Frank Giustra, but suppression can’t last forever.
“I think [the Fed] is working with the bullion banks and I think that they don’t necessarily communicate directly with the bullion banks, they can do it through the BIS [Bank of International Settlements] and give them instructions to sell futures, and then that’s executed through the bullion banks,” he said.
I suspect there has to be a reset of the global monetary system. It’s out of whack. The U.S. dollar is grossly overvalued relative to its trade deficits, and I think that has to be reset. I don’t see this happening by way of consensus. This go around, you’ve got a very competitive and very strained world in terms of relations, and I think that it’s going to be forced upon us.
Given the dynamics between the U.S., China, Russia, and the rest of the world right now, I think that maybe we might see that eventuality sooner than I expected…they can’t suppress the gold price forever.
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