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People who don't yet realize they're short gold may start to cover, Turk tells KWN
5:27p ET Monday, July 27, 2020
Dear Friend of GATA and Gold:
Gold's rise to a record high is likely to give people some disturbing thoughts, GoldMoney founder and GATA consultant James Turk tells King World News today.
First, Turk says, gold's record high may get people wondering about the collapse of the U.S. dollar -- and not just the dollar but all fiat currencies as the prospects for infinite money creation grow stronger. "National currencies can be created at will," Turk notes, "and history shows that too much ‘printing’ happens every time."
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Indeed, that tendency is the origin of gold price suppression policy.
Governments and banks that have sold gold they don't really have are beginning to cover, Turk says. But he expects short-covering from a group that may not yet even realize it is short -- that is, anyone holding depreciating government currency is also essentially short gold.
Maybe increasingly negative real interest rates will encourage their awakening.
Turk's comments are headlined "Gold Hits Record High Price As the U.S. Dollar Waterfall Decline Accelerates, But Here Is the Major Warning Signal" and are posted at King World News here:
https://kingworldnews.com/gold-hits-record-high-price-as-the-us-dollar-w...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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