In an essay written exclusively for King World News, Hinde Capital CEO Ben Davies accelerates his prediction for gold to break $2,000, on account of quickening recognition, prompted by Venezuela's repatriation of its gold reserve, that the Western fractional-reserve gold banking system is woefully exposed to a short squeeze.
"This," Davies writes, "will get other governments, central banks, and financial institutions that hold their gold abroad to reconsider their gold holding locations. We could see further repatriation of gold home. Maybe the Europeans will ask for a return of their gold. Remember last time a European did that? August, 15, 1971, and Nixon’s closing of the gold window were the response. And the rest is history."
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