Sunday, June 9, 2013

BLOCKBUSTER: Former Plunge Protection Team Member on Government Manipulation of the Gold Price and Much More

A new King World News interview is out. It is destined to become of major historical significance. It is the most important insider interview I have ever heard. The interview is with Pippa Malmgren.

I have written about Malmgren before:
Philippa "Pippa" Malmgren is an insider's insider. She was Special Assistant to the President for Economic Policy on the National Economic Council. She was also a member of the President's Working Group on Financial Markets, aka, the Plunge Protection Team. Her client list includes every elite corporate firm in the world (Take a minute to look at the list, it is mind boggling, the list is here.). You don't get much more insider than this.
During her interview with KWN she states that "governments hate when gold goes through the roof."  And if you read between the lines of her comments, it is clear that she is saying that, yes, the government does try to manipulate the price of gold. I remind you, this is a former member of the United States government's Plunge Protection Team saying this.

Most interesting, she says that a lot of private wealth is moving into diamonds and she states that it is going into diamonds because a lot can be moved very easily and that unlike gold it can't be detected by a metal detector. Get this, she then reminds the interviewer that she headed the anti-laundering division of a USG agency.

Most shocking, she stated openly that your "cash is increasingly at the risk of ending up in the hands of government." She says money will be expropriated in many different ways, but that it will be taken.

She also makes clear that there is no way that the US government will be able to pay off its debt and that it is only a matter of how the government defaults. She lists money printing inflation as a very strong possibility.

She ends the interview with some bullish comments on gold, saying that you just have to hold gold through its volatility.

I repeat, this is a remarkable interview, you should listen to it more than once. Malmgren lays it all out, right here.

(ht Tom Garrett)

1 comment:

  1. You buy diamonds at 100% of the retail price; then you sell back your diamonds at probably 25% of the retail price.

    Ever noticed nowadays merchants are selling their diamonds at less than 50% the retail price? What makes you think if you buy diamonds you can sell back at the full retail price or at least the same price you bought?