Fed-They Do Not Have Any More Gold-Paul Craig Roberts

4By Greg Hunter’s USAWatchdog.com 

Former Assistant Treasury Secretary Paul Craig Roberts is making some bold new claims about the Federal Reserve and its official government gold holdings.  Dr. Roberts contends, “They don’t have any more gold.  That’s why they can only give Germany 5 tons of the 1,500 tons it’s holding.  In fact, when Germany asked for this delivery last year, the Fed said no.  But it said we will give you back 300 tons . . . . So, they said we will give you back 20% of what you trusted us to keep for you over the next seven years, but they are not even able to do that.”  Dr. Roberts goes on to say, “The stocks of gold at the Bank of England seem to be disappearing.  The stocks of many of the gold trusts, such as GLD, are being looted . . . all of this gold is disappearing into Asian markets.  The entire West is being drained of gold.”  According to Dr. Roberts, this is an inflection point for the gold market.  Dr. Roberts says, “The reason is: the ability to supply large amounts of gold to the bullion dealers to sell has diminished with the supply of gold and silver.  What the Fed did was turn to massive ‘naked shorts’ of gold futures contracts.  They don’t have the real gold  . . . so they come in and dump contracts, say in a period of 6 minutes, that are three times the amount of gold COMEX has to make delivery. . . . So, it drives down the price of gold.  That’s how they got the price down from $1,900 to $1,250.” 

Roberts contends that America’s gold is “mainly gone.” That’s right, a former Assistant Treasury Secretary who is the father of Reaganomics, says, “They obviously don’t have any because, if they did, they would have given Germany’s gold back.  If they had any, they would let people audit the vaults.”  Dr. Roberts warns, “The point is the ability to continue selling these ‘naked shorts’ is now disappearing because there is no gold left to back them up. . . . None of these EFT’s has the gold to back the shares.  The ability to continue looting them in order to make good on gold deliveries is running out.  So, this will prevent the Fed from selling ‘naked shorts’ to protect the dollar from its policy of quantitative easing.  That’s what’s it’s all about.  You can’t print $1,000 billion new dollars every year without causing other holders of dollars to wonder about the value of the money and to seek a way of getting out of it.  China has been doing that by going into gold.” 

On gold holdings, Dr. Roberts argues there are two big reasons why he says, “I don’t think they have any.”  Roberts says, “There is no reason for partial delivery if you have the gold.  There is no reason to sell all these naked shorts if you have the real gold you can dump on the market.”  Roberts predicts, “If people in the West try to move from dollars into bullion and there’s not any to speak of, then you would see a massive rise in the price.”  Dr. Roberts also predicts, “I think, this year, you are going to see a further downturn in the economy.  The signs are not only that we do not have a recovery, but it’s going to get worse. . . . Christmas sales were very negative.  There’s no growth in people’s income and no jobs.  So, if the economy goes down further, what does that mean?  It means the deficit widens.  It means they have a greater debt ceiling lift.  They have to have a bigger debt ceiling increase, and all of this will alarm the world.  They’ll say, good heavens, they already had a trillion dollar deficit.  Now it’s gone up, and the Fed can’t stop the quantitative easing without the stock and bond market collapsing.  The banks’ solvency will become an issue.  So, the world is watching a bigger deficit, more printing of money, and they are likely to start dumping dollars.  When they do that, they’ll say ‘gold, I want gold.’  There’s not much supply to meet demand, and the price has to escalate.  So, I wouldn’t be surprised if that shows up this year.”   

Join Greg Hunter as he goes One-on-One with economist Dr. Paul Craig Roberts.

After the interview, Dr. Roberts said, “Here’s another heads up.”  He told me he’s going to post an article from an anonymous insider that will address the question of “estate recovery” contained in Obama Care.  Dr. Roberts charges, “The Affordable Care Act is not affordable and doesn’t provide care.  It’s a way to loot the poorest people and steal whatever assets they have.”  Roberts says the upcoming article will show, “The poorest who are supposed to be helped are herded into Medicaid, where any property they own is subject to estate recovery.”

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  1. scfulcher

    You do a wonderful service to the world by presenting such learned and informed guests. I, and many others to be sure, are appreciative. But, please, STOP INTERRUPTING. We can hear what the guest says, and can replay the audio if we have a question. The audience loses the train of thought by your continual (and lengthy) questions and opinions. May I suggest that if you want to share your opinion, or want to emphasize certain points, why not just add them at the conclusion of the interview.

    • Greg Hunter

      I am not going to change so this is it. Thank you for your support.

      • smaulgld

        I disagree, I watch these videos as much for the guests as I do for Mr. Hunter.

        • Jason Hall

          If you want to watch a comedy show, then tune into “Here’s Lucy” or “Mork & Mindy”. Most listeners watch these broadcasts to get information from expert guests, not get a ‘chuckle’ from Greg. It’s annoying, not funny.

      • Zorro

        Greg, we really appreciate all you do, but I also think you would benefit from learning to control your tongue when your guest is saying something important. Perhaps you could be the guest on your own program sometime and ask yourself questions. Then you could speak to your heart’s content, but again, it detracts from the interview when you pontificate at length, as it defeats the whole point of having a guest speaker on your show. Thanks!

        • Greg Hunter

          Thank you for your critique, but I will interject when I think I need to. Thank you for your support.

        • 02144pomroy

          Zorro! You’re killin’ me!! LOL! We still luv ya Greg!

        • Galaxy 500

          It’s called weekly news wrap up. Where have you been?

      • On The Beach

        Greg your doing an outstanding job and most who tune in share your enthusiasm and appreciate your interjections and control and direction of your interviews. Most people find economics B O R I N G and the old fuddy duddy’s just have to realize you cant be just preaching to the choir all the time. Even Jesus had to tell his disciples he came to heal the sick, the healthy are already well. This is your ship and it’s your responsibility to keep it interesting for everybody. Your site is attracting many new people all the time from all over the world, especially the English speaking, who many never knew what in the worlds been going on economically around them, affecting them in so many ways. Above all your warnings, to everybody to wake up and smell the moo la, because soon we may not have any and we might just all be on the government dole fighting for the crumbs. May that never happen to you and your fellow watchdogs Greg!

        • Greg Hunter

          On The Beach,
          Thank you for your comment. I do try to make the interviews interesting and try to keep it moving. Thank you for noticing.

      • Chip

        Don’t change Greg, we like you the way you are and why we keep coming to this site. you put it together, pin them down on their meaning, and that is good reporting. thanks…

        • Greg Hunter

          Thank you for your comment and support. I realize I am far from perfect, but I wonder how many of these people complaining about my style are just paid trolls? You know, let’s play kill the messenger if you really can’t kill the message.

        • Bill Taylor

          I listen very rarely because of Greg’s interruptions. It is annoying and disruptive. You might not think you need to alter this Greg but I for one would be a much more regular listener if you weren’t constantly interrupting to show us all how much you know. Take a page out of Eric Kings playbook. He asks a question now and then but he never interrupts a train of thought.

          • Uglys

            Bill and others….
            I listen to the interviews and really don’t notice the interruptions that much because I listen mostly for the content, which includes the questions and the answers. I think you dudes are trying to make a mountain out of a molehill. Just relax and listen to the content. The real issues are not addressed via MSM, thus only few outlets such as this one. Relax dudes!

          • Galaxy 500

            So you like the MSM Ness where they ask a question and then allow the interviewee’s to regurgitate the socialist position.

    • oldnurse

      Absolutely right. It’s so distracting.

    • Jim

      The person asking the questions is the one in charge. I like having the guest answer specific questions if possible. Hard to get that from a general response that may not be as focused as Greg desires. Keep up the good work. I’m on a board that meets w/ politicians on occasion w/o media. The most productive meetings are the ones with the most articulate exchanges. We’re polite with significant expectations. Our opinions are often requested. Current topics and world situations are not a kid gloves kind of thing!

  2. Chip

    Good interview! I thought his comments towards the end were quite sensible – while logic says that the manipulations should end, this has already gone on much longer than he thought possible, and so it’s hard to say what they’ll do next to keep the game going.

    I’m getting the feeling that the COMEX’s days as a price discovery mechanism for precious metals may be coming to an end soon. It took four months for the US to return 160 tons of gold to Venezuela and now all we can give back to Germany is 5 tons after several months. That would strongly indicate that there’s no government gold left in the US. Perhaps it was all frittered away maintaining the dollar’s appearance. Now, there are too many oil producers to beat up and make examples of in order to maintain the petrodollar, so the game might be reaching a type of terminus. More financial repression will probably be the response by government.

    • Greg Hunter

      A non delivery event is getting close. Thank you for weighing in.

  3. Justin King

    Thanks to Greg for putting on PCR in video, as not enough people READ his articles.
    Too much work for today’s lazy electorate.

  4. kos

    one reason to dump naked shorts is to lower price. The second reason seems to appear that the one dumping the naked shorts is the buyer . Great stuff guys, keep up the fight.

  5. kos

    and Greg it is you show just for the record.Keep up the so called interuption.

  6. kos

    Two good guys over and out.

    • Greg Hunter

      Thank you for your kind words and support.

  7. Liquid Motion

    Every single time someone of this calibre mentions gold manipulation, there is another nail driven into the coffin of the manipulators. PCR is a benchmark and really is setting the tongues wagging across the globe.
    The last stated official gold held was 8,133Tonnes.
    China’s last official Gold holdings (April 2009) was 1,054Tonnes
    If the proposition of PCR that “all the gold is gone” is true, then lets look at the facts:
    Actual Imported Officially into China (via HK into Shanghai) approx. 1,000 Tonnes (2013)
    Only 557Tonnes for 2012. However interestingly in the 2 yrs. between Sept. 2011 and Aug. 13 it has imported 2,116 tonnes.. In two years China imported >2,000Tonnes of Gold.
    In my estimation China’s gold hoard must be north of 4,000 tonnes. If the US gold were to be depleted then China’s gold should be substantially higher.
    Either China or the USA is lying OR THEY BOTH ARE.
    Keep in mind the world annual production is ~2,500Tonnes.
    Is China engaging in shadow gold buying and channelling it into the country…without doubt.
    We know of other nations (India) and the M.E. are big buyers. Central Banks are net buyers of Gold Bullion AND The FED’s Bullion Banks are net LONG GOLD.
    Those naked shorts, when they get triggered force the sellers to deliver. PCR is correct …they are stealing everyone’s gold. They allowed the price to escalate from $400/oz…..until it became a real concern for the USD. Keeping in mind that the psyche of the public….not interested in Gold….until it becomes news(covered in the MSM)….price moves above $1000/oz….and then $1650…and every man and his god wants it….before it becomes too expensive……THEN THEY SMASH THE HELL OUT OF IT….so that they can steal it all back while everyone says good riddance to that relic, before letting it move to the upside again. IN the meantime has anyone actually counted the profits they (Bullion Banks) have made on the downside. How smart are they…..now being NET LONG (physical) while pushing all the risk over to the HF’s/Money Managers who now face the WRATH of a devastating short squeeze. Some very significant money is about to get 3rd degree burns.
    The Public in the meantime, the ones who don’t understand Gold, will of course act when its too late. When they want it (because of what the MSM has said)….there wont be any.
    That’s the psyche of the market. Only the ones who truly understand Gold will benefit from holding it physically.

    • Greg Hunter

      Liquid Motion,
      I knew you would like this interview. Thank you for providing additional commentary and analysis to this post!!

    • Justin King

      A good strategy is to buy the gold miners NOW, sell later at a “top”, THEN buy bullion and stay banked with it.

      • Liquid Motion

        Second the Motion…. 🙂

      • JB Toronto

        Careful as AU at some point will be off market with none to buy.

        • Galaxy 500

          I Don’t buy that it’s going to be off the market. Oh, the gov’t may try but when half the country can’t enjoy their subsidized life style ( I hear the Subsidy Tree (middle class) has a fungus (life leaching taxes and no jobs) and doesn’t have long before it’s firewood) the junkies and gangsters will be looting the every thing. The people don’t want to.understand that the coming depression will be nation and civilization destroying.

  8. William Betts

    Thanks for having Dr. Roberts on your news program. The Federal Reserve Act of 1913 did not give the authority to the FED to get rid of the peoples gold accumulated over many years. If and when the US loses the $ as the reserve currency of the world and we have no gold left, we become a nation that is less than a 3rd world country. I don’t believe the congress really understands what is going on here. You can forget that guy in the oval office. We as a nation and a people are in deep shit….. Betts

    • Greg Hunter

      William Betts,
      This is a very good point: “The Federal Reserve Act of 1913 did not give the authority to the FED to get rid of the peoples gold accumulated over many years.” Thank you for making it here.

    • Galaxy 500

      Mr Betts,
      It’s hard for Congressmen to understand anything when they Don’t even READ the bills they vote on. They let their patrons tell them what to think and believe.

  9. Galaxy 500

    Wendy Davis in TX was caught using loose language with regards to her bio which translates as she made up Shiite (she lied). The MSM doesn’t report Democrats lying. Obama was caught making up details in his autobiography. Why does this not matter?
    Why does anyone believe anything coming out of the Fed or this Administration? Does the truth no longer matter?
    Thanks for having Dr Roberts on

    • Chip

      Just like they beat up Christie (not that I am a fan) but let go of Benghazi, Fast and Furrious, IRS targeting scandle as well as many other transgretions of this administration that are far more serious than “bridgegate”. The MSM is a propaganda tool of the NWO progressives….

      • Greg Hunter

        The Christie bridge-gate is juvenile. The White House is engaging in serious unconstitutional activity. Thank you (I am not a fan of Gov. Christie either.)

        • Galaxy 500

          You left out criminal and likely treasonous 😉

  10. Uglys

    The very near future of Healthcare may look something like this. Let say you buy the plan that has a $100,000 deductible, so you have a plan that is $1600 per month. Say in 25 years you pay into it and you have a heart attack. Heart attacks cost $600,000 and you must provide the deductible of $100,000 even though you have already paid ($1600 per month x 12 months x 25 years = $480,000). But you still owe them $500,000. There goes your home and everything. Future investments for the ‘average’ guy will be impossible because there will be zero disposable income leftover each month….

  11. Winston Smith

    PCR is always a great interview and he has a way of keeping it simple for all to understand. The article on his website is definitely worth reading as well and goes into greater depth like the most common times of day when all these naked short contracts are dumped onto the market. No measure of fraud is off the table when it comes to defending the dollar.
    Like you just stated I also believe a non delivery event is on the horizon and will probably be the catalyst that triggers the next Lehman moment only this time it will be far worse.
    As far as Fort Knox is concerned Jim Willie says they’re standing guard over canisters of nerve gas not gold.
    You may want to consider interviewing Dave Kranzler some day, I’ve been following his blog for some time now and is pretty tuned in to all the fraud and manipulation in both PM and housing.
    Great Interview, keep up the good work.