- Gold Market To See Largest Short Squeeze In Modern History!
Today one of the savviest and well connected hedge fund managers in the world told King World News that the gold market is getting very close to seeing a massive and unprecedented short squeeze that will eclipse anything in seen in modern financial history. Outspoken Hong Kong hedge fund manager William Kaye also spoke about what is happening behind the scenes in the ongoing war in the gold market. Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, had this to say in his fascinating and powerful interview.
Kaye: “The short interest in GLD right now is incredibly high. It’s roughly 30 million shares, and the key point here is that this is taking place while the shareholder count keeps contracting. The shareholder count is down to just over 300 million shares, so the short interest is roughly 10%. The shareholder count keeps contracting because the physical gold keeps getting redeemed….
We will reach a point where the shorts will need to cover, and when they need to cover there is not going to be the physical gold available that they will be required to be deliver. As a result, I believe we are on the precipice of what will be the biggest short squeeze in modern financial history.”