Posts Categorized: King World News

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Dear CIGAs,

London metals trader Andrew Maguire, who broke the news to King World News about two courageous JP Morgan  whistleblowers confessing that JPM manipulates the gold and silver markets, warned KWN that the Fed, LBMA, Comex, and the bullion banks are now on the edge of disaster.  He also told KWN exactly where massive central bank buying will come into the gold market.  Below is what Maguire had to say in this powerful interview.

Maguire:  “The downside for the central banks is that short-term interventions have further emptied the physical vaults (once) again.  And where is this gold coming from?  It’s coming out of unallocated bullion bank inventories (at the Comex).  The central banks may be leasing out gold, but it’s not leaving their vaults (at this time)….

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Dear CIGAs,

On the heels of another plunge in gold and silver, today billionaire Eric Sprott warned King World News that the smash in gold and silver is being accomplished through unprecedented levels of dwindling Western central bank gold being supplied into the market.  He also spoke about the massive gold and silver demand.  Below is what Sprott, Chairman of Sprott Asset Management, had to say in part I of this remarkably powerful interview series.

Eric King:  “Eric, I have to start of talking to you about this smash in gold and silver that we’ve seen here very recently.  It’s continuing this morning, your thoughts here?”

Sprott:  “As you know, Eric, I take a big macro view of gold here, and what I sense all along is that the Western central banks must really be running on fumes when it comes to (physical) gold.  I must say that I am never disappointed by the data points that I see in physical gold.

For example, I just saw the Perth Mint, their gold sales were up 50% and the silver sales are up 70%.  The Bank of England, the Royal Canadian Mint, all of the sales are up and getting into seriously high numbers.  All the while, this is all predicated on the gold and silver supplies hardly going up at all.

In fact, I think the gold supply will be down this year from maybe even back to (the year) 2000….

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Dear CIGAs,

Today one of the top economists in the world warned King World News that we are going to see an increase in government theft of its citizens assets.  Michael Pento, who heads Pento Portfolio Strategies, also made some incredibly bold predictions about what is coming in the bond, gold, silver, and mining shares markets.  Below is what Pento had to say in this powerful interview.

Pento:  “We had the Non-Farm Payroll Report released yesterday which disappointed Wall Street.  There were also some revisions in the back months that took the numbers down quite significantly. 

The most important point I took away from the employment situation in the United States is that people continue to drop out of the labor force, which tells me quite clearly that the number of people working in the United States that are able to support the people who are dependent on the government continues to drop. 

This is also putting more and more pressure on the long-term fiscal condition of the US….

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Dear CIGAs,

On the heels of a tremendous rally in gold and silver, today a man who has been involved in the financial markets for 50 years shocked King World News when he said that we are on the verge of a historic and catastrophic global financial “meltdown.”  He also spoke about events that are unfolding behind the scenes at the White House right now.  This is without question one of John Embry’s most powerful interviews ever.

Embry: “I guess I’m always unnerved as a result of what happened in April, the last time the President of the United States had a meeting with all of the bank heads, and two days later the price of gold was trading smashed for over $200.  Now, the President is meeting with all of the heads of the various agencies, institutions, the Fed, and all of the other key money entities in the United States today.  What’s that all about?

But clearly if the President is having this meeting, there is a crisis unfolding somewhere in the background, and it could very well relate to the dollar, interest rates, and the massive derivatives market associated with interest rates….

Click here to read the full interview…

Posted by & filed under King World News.

Dear CIGAs,

“COT data for week ending 7/30 show Commercials reduced their Net Short Position by 8,922 contracts to -25,774.  We still hold by our idea that gold maintains at/above $1300 for the next few weeks, then begins a sustained rally to new highs.  All signs are that we’re at a major turning point for the metal right here.

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I wanted to highlight a few other charts showing why the idea of the Fed ‘tapering’ will soon fade.  First, Real Estate.  According to the SIGTARP (inspector general) report last month, the re-default rate on modified loans is 46%, and the national average delinquency-to-foreclosure time frame is at 16 months (RealtyTrac data) — the highest level since Q1 2007. 

In New York, the current default-to-foreclosure time frame is 1,049 days.  In New Jersey: 1,002 days.  In Florida: 893 days.  Hawaii: 824 days.  Illinois: 720 days.  You get the idea.  Not surprisingly, Texas has the shortest foreclosure completion time frame at 159 days (don’t mess with Texas!).  In sum, if you default on your mortgage, you can live ‘rent-free’ for (up to) 3 years while your case is decided in (or out of) the courts.

The re-default rate is most troubling.  If you re-default on new terms, you’re still not pushed out of your home …. you simply go back through the default-to-foreclosure process which means an additional (up to) 3 years of living mortgage-free.  For someone who defaults (and then re-defaults) in NY, this could mean up to 6 years of mortgage-free living (save a few months of payments under modified terms).  Pretty good deal.

34 states reported lower foreclosures than a year ago (good news), yet this stat is hiding the uglier truth that banks are simply holding-off for longer periods of time before issuing foreclosure/REO notices on delinquent borrowers (this has been going on for years).  Doing the math, we find total home inventory (current REO’s + Existing + New Homes) is 10 million homes — well above the reported inventory of around 2.3 million homes. 

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Dear CIGAs,

Today King World News is reporting on incredibly important developments taking place in the gold and silver markets.  Acclaimed commodity trader Dan Norcini spoke with KWN about some extraordinary events that are happening which will surprise KWN readers around the world.  Below is what Norcini had to say in his interview.

Eric King:  “Dan, what about the COT (Commitment of Traders Report)?  I know there was some major movement there?”

Norcini:  “That’s an interesting story, Eric.  Watching what is going on there lately with the gold market, we’ve seen a very steady drawdown in the net-short position of the big commercials (the bullion banks).  This week was rather fascinating because we are to a situation now where we are only about 5,000 contracts away from the commercial category being net-long this gold market.”

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Dear CIGAs,

Today King World News wanted to discuss a second round of “Holy Grail” evidence which implicates Western central banks in actively manipulating the gold market.  This has the West panicked because the information was inadvertently released to the public.  Chris Powell, who has been focused on uncovering this type of sensitive information for 15 years, spoke with KWN about this remarkable situation as well as the astounding implications.

Powell:  “The Bank of England was pretty cooperative with me this week when I asked them to show whether they wanted to be accountable or not for what seems to be a pretty big discrepancy in the custodial gold that they have reported to the public between February and this month….

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Dear CIGAs,

With most key markets around the world trading lower, today Egon von Greyerz warned King World News that there are enormous shortages of physical gold and this has created a situation where the bullion banks are in real trouble here because of the supply problems.  Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this powerful and exclusive interview. 

Greyerz:  “Eric, you know my view that gold and silver will go up because of unlimited money printing.  That’s guaranteed to happen.  But other factors that could put even more (upward) pressure on gold in the short-term are the enormous physical shortages….

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