German financial journalist Lars Schall has released a MUST LISTEN interview with William Kaye, the Senior Managing Director of the Pacific Alliance Group of Companies in Hong Kong who made waves last week in a KWN interview alleging he owns gold bullion bars with the Bundesbank’s stamp and holds them in Hong Kong.
Kay clarifies his powerful claims to KWN, and drops another major bombshell, stating that the entire 3 month paper gold raid was orchestrated to prevent the imminent systemic gold default by the bullion banks in the days following the April gold default by ABN Amro:
“The paper smash on gold began only days after the official ABN Amro (gold) default. The purpose for this raid was to preclude the likelihood that all the major bullion banks would have followed in ABN Amro’s footsteps! We have alot of corroborating evidence that it wasn’t just ABN Amro that was running on empty as it related to gold inventories.
JP Morgan has record modern-era lows in gold inventory against massive paper claims. Similarly, the COMEX is running close to empty as well against massive outstanding paper claims. Essentially gold inventory in the system that would be available to the bullion banks was running very close to empty. That was the case in mid April, and it continues to be the case today. ” -William Kay
William Kay’s full MUST LISTEN interview on the how and why the Western Central and bullion banks orchestrated the latest massive paper gold raid can be found here: