Hong Kong fund mgr "we are going to burn all the paper gold"

[Large Sarge]

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/29_Exclusive__Coming_Short_Squeeze_In_Gold_To_Shoc k_The_World.html

[Uncle Salty]

Anyone care to summarize? I can't listen at work!

[Serpo]

Anyone care to summarize? I can't listen at work!Today the outspoken hedge fund manager out of Hong Kong, who recently lit the gold world on fire with his comments about a coming short squeeze in gold, told King World News that managed money around the world is already beginning to convert paper claims on gold into physical metal. Kaye, who 23 years ago worked for Goldman Sachs in mergers and acquisitions, and who is now the founder and principle shareholder of Pacific Group in Hong Kong, strongly believes that “... only a small fraction of investors in the world need to do what we are doing to create an enormous short squeeze (in gold).”



KWN will be releasing a series of written interviews today with Kaye which discuss the coming global systemic meltdown, and how it will impact investors and key markets around the world, including gold and silver. Here is what Kaye had to say in part I of this exclusive interview: “We know the claims on gold in the marketplace exceed, depending on various estimates, 100 to 150 times the amount of physical gold known to exist. So when a credible country like Germany has sufficient concerns about whether they can get physical possession and safe storage of fully allocated gold, it’s our contention that any prudent investor should be concerned.”
“When the music stops, what the leverage in the system should tell you is there aren’t going to be enough chairs. So Germany, as a credible country, is saying, ‘We’re reserving our chair.’ Now this is exactly the type of catalyst that, as investors, we look for as owners of fully allocated gold ourselves.



We share many of Germany’s concerns....

Eric King: “Bill, do you think that other fund managers in your position are going to move in this direction going forward, to get the physical gold in their possession so they are not left with pieces of paper (claims)?



Kaye: “It’s already happening. It’s happening quietly for the most part at the moment. I think the potential here is what is starting as a trickle could become a flood.”



Eric King: “Bill, is that your vision of this? When you talk about this becoming a flood, you see people panicking eventually that are running money, countries as well, and saying, ‘We’re done with the pieces of paper (claims) at the LBMA, at the Bank of England, at the Fed, we want our gold and we want it right now.’ Is that what you see happening?”



Kaye: “I do see that happening eventually. Most people who think they own gold, don’t own physical. They own some piece of paper. People who have that piece of paper, and therefore the false security that they have the underlying wealth, if even a small fraction of them start doing what we are doing and what others are doing, it will create the biggest short squeeze in any financial instrument in the history of the world.


“We want our gold in a safe location, fully allocated, (where) no one else can have a claim on it. We can go and touch it, and we know it’s there. That’s exactly the process that Germany has going on currently, and it’s something that should be getting the attention of every investor.”
Credible countries such as Germany continue to convert their assets (and paper claims) into physical, fully allocated gold. It can’t be hypothecated. It has very unique serial numbers. It’s for their use only. (As I said), only a small fraction of investors in the world need to do what we are doing to create an enormous short squeeze (in gold). That short squeeze, when fully underway, would likely take gold to at least $5,000 to $10,000 an ounce.”

[Ponce]

"If you don't hold it, you don't own it"... Ponce

Looks to me like Ponce's words are spreading all over the world.......long live Ponce, the savior hahahahaaha

V