Short Squeeze! – More claims to gold sold than can be delivered upon

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“In our continuing coverage of what could be the largest fraud in history we interviewed Jim Rickards the day after the release of the Harvey and Lenny Organ and Adrian Douglas blockbuster to get his opinion not only on the ScotiaMocatta vault news but also regarding the whistleblower interview with Andrew Maguire and Adrian Douglas that involves the LBMA. He also discusses how gold could go to $20,000 an ounce.”

Interviewed by Eric King of King World News, Jim Rickards, has been a direct participant in many of the most significant financial events over the past 30 years including the 1981 release of hostages from Iran and was also the principal negotiator for the government sponsored bailout of LTCM.

Jim Rickards says:

— Far more claims to gold have been sold than can be delivered upon.

— To save the dollar the United States will be forced back on a gold standard with convertibility and gold revalued to $5,500 per ounce.

— China’s need for gold to back its own currency and hedge its U.S. debt exposure is massive but the metal isn’t available even as the Chinese government is commandeering the output of Chinese mines.

— And gold owners should keep their metal in vaults not operated or controlled by banks, since keeping gold in bank vaults negates gold’s purpose as a wealth preserver outside the banking system, which is vulnerable to a run on gold banks.

It’s a great interview, 30 minutes long, and you can find it at  HERE

“Jim Rickards – senior managing director of the Omnis Inc. consulting firm in McLean, Virginia, clients include private investment funds, investment banks and government directorates in national security and defense. He is an advisor to the Committee on Foreign Investment in the United States and Support Group of the Director of National Intelligence and recently testified before Congress on the causes of the financial crisis. In this exclusive interview with King World News last Thursday April 8th, Jim gave us his expert analysis on these incredible unfolding events.”