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The Federal Reserve orchestrated the attack on gold
Material posted: Publication date: 16-04-2013

Today a former assistant Secretary of the Treasury said that the attacks on gold and silver fully organized by the Federal Reserve. Paul Craig Roberts also warned that stocks of available physical gold is "rapidly running out".

Eric king: "Dr. Roberts, today is the pressure on gold and silver. What are your thoughts on this?"

Dr. Roberts: "They (the attacks) are orchestrated. This happens since the beginning of April. Brokerage houses told their individual clients that there is information that institutional investors are going to dump gold, and they need to go.

Then, a couple of days ago, Goldman Sachs reported that will further the retreat from gold. What they do is try to scare private investors away from bullion. Clearly there is something desperate...

"I believed that this is due to the Fed and the dollar, because dollars are printed in huge volumes and at the same time other countries stop its use in international payments.

Dollar exchange rate under threat, and if it will collapse, the fed will lose control over interest rate. Then explode the stock market, and too big to fall banks will fall. So it's an act of desperation, because they want to establish in the minds of the people confidence that the dollar is the only safe place that this is the only safe haven — not gold, not silver, and not other currencies.

And to help protect this policy they convince and put pressure on the Japanese to spend inflation of our own currency. And now the Japanese will print money like the fed. They are lobbying the ECB to print more. So I see it as protectionism against the dollar.

I know where the market enters gold is just paper. If someone wants to get gold for these securities, then no one will be able to provide it. I don't know what is the source of physical gold. Some say that the actual stocks available for production, rapidly declining".

King: "What do you expect from all this? If the gold leaked out of the vaults of Western Central banks, and flows to the East, as the old saying goes, "Where does the gold go there and power".

Roberts: "Well, I guess that the power the West has already lost. When you bring abroad their production facilities and highly qualified jobs, eat away its economy from within. So gold and the US already so seriously dysfunctional that I don't think the country will be able to recover.

This pressure on gold because it is linked to the dollar. They are trying to protect the fed policy of negative real interest rates. Can't do that if the dollar loses value relative to gold because it implies that the lost value relative to other currencies.

If the exchange rate of the dollar falls, the value of imports in the U.S. is growing. And you get domestic inflation. And if you have domestic inflation you can't maintain a zero or negative interest rates. And then the fed will lose control, and this is the basis of his policy.

They are trying to destroy gold as a safe haven from the dollar, to be able to continue to pursue a policy of negative interest rates. That's what drives the illegal policy of intervention and manipulation by the market. If it were done by someone not in government, I'd have him arrested. So the fact that illegal actions are carried out by the authorities, indicates that they are very concerned about the dollar".


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