Daniela Cambone Jeff ChristianOur favorite gold and silver cartel shill, CPM Group’s Jeffrey Christian gave an interview to Kitco’s Daniela Cambone at the 2013 PDAC conference in Toronto. 

Permabear Christian stated that gold and silver investors and those optimistic about the outlook for the metals are disillusioned, and stated that Turkey’s recent efforts to convert their citizens privately held gold into central bank gold reserves (via rehypothecation) is pure genius that will be emulated by the other central banks.

As to his gold outlook, Christian is as bullish as we’ve ever seen him, stating that, We don’t think gold will crash down to $1,000, we think it has support at $1400.

Christian’s full interview with Daniela is below:

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  1. @The Doc:  Regarding Turkey, he does have a point.  Other central banks could try to replicate the program, leading to some pulling in of physical back into the insta-presto rehypothication machine.  India would be the primary risk given how large their bullion market is;  a small shaving pulled back into the banking system could result in a whack of metal.   Overall I don’t think this is going to mean much of anything.  But it’s worth keeping an eye on this.

    • His comments about currency warfare conforms with how he sees manipulation in general.  It’s such a perfect example of his screwed-up thinking that I took the time to transcribe his response.  You’ll notice that he goes as far as to suggest that governments are not the main force behind shifts in currency.  It’s investors, he says. 

      Well, even if it was investors reacting only to relative valuation perceptions, just what the heck changes those valuation perceptions, Jeff?  Drum roll please:  governments changing relative rates of currency debasement (manipulation/management) and their associated central banks running with different rates of debt monetization are exactly the forces investors react to when setting relative valuation expectations. 

      Sheesh, with his circular logic, Jeff should be glad he doesn’t have a tail because he would be chasing it better than any dog in history.

      =============
      Quote near the end of the interview:

      “There’s really not a currency war.  What you’re seeing is a natural development in the current economic situation on a global basis of investors really having a tough time choosing which currency to back.  And so you’re seeing a valuation model … I don’t think it’s being driven by central banks or even government policies so much as it’s being driven by confusion on the part of large institutional investors saying which currency do I park my money in?”

  2. “Permabear Christian stated that gold and silver investors and those optimistic about the outlook for the metals are disillusioned…”
     
    Does he include in this the central banks around the world that are buying gold in multi-ton quantities these days?  Seems as if he is saying that these CBs are “disillusioned” about the future of gold. HA!  Good thing that these CBs have someone as brilliant as Mr. Christian here to set them straight about which currencies are good and which are only… illusions.

    IMHO, gold has a superb future, as does silver.  Fiat currency?  Not so much.

  3. What? Some people think that Turkey’s greedy tricks on buying their citizens’ gold is a good idea!? Look at the USA 1933, citizens sold their gold at 20$ per ounce and then afterward, gold went to 35$ per ounce because the Federal Reserve did a devaluation on the US dollar!

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