A 42-year market veteran who predicted the recent spike in gold ahead of time spoke with King World News about the a catalyst that is going to create a massive spike in the price of gold. John Hathaway, who is one of the most respected institutional minds in the world today when it comes to gold, and whose fund was awarded a coveted 5-star rating, also included a fantastic chart.
Eric King: “John, I know you’ve seen the chart that shows the expansion of paper claims vs available physical gold. Just when you think chart can’t go any more parabolic, it does. It has now hit a staggering 112 to 1. When does that matter, John?”
Hathaway: “It doesn’t matter until it does matter. Look, these bullion banks are extending credit to trading entities — probably high-frequency traders, hedge funds, and the other usual suspects — that don’t have any physical gold at all….