Former White House Official - Western Default, China & Gold

"Today King World News interviewed the former White House official who was Special Assistant to the President of the United States for Economic Policy and a former member of the U.S. President’s Working Group on Financial Markets, also known as the Plunge Protection Team, or PPT.  While in the White House, Dr. Philippa “Pippa” Malmgren served as financial market advisor in the White House and functioned as the direct liaison between the White House and the Federal Reserve. 

Dr. Malmgren formerly headed the Global Asset Management business for Bankers Trust in Asia, out of Hong Kong, and was also Chief Currency Strategist for Bankers Trust Company, and former Head of Global Investment Strategy at UBS.  Dr. Malmgren was also a senior consultant to Deutsche Bank, and currently advises the largest sovereign wealth funds, hedge funds, and pension funds in the world.

Eric King:  “The last time we spoke you discussed gold (when the gold price was being crushed in mid-2013). The gold market, they (central planners) have had a lockdown on gold.  You talked about the governments coming in and doing that from time-to-time.  At one point (in your previous interview) you were talking about the government manipulation in gold and you said:

“There are times when the presence of extremely large players, like governments, will move the price 

way more than normal.  You just have to whisper at it (the price of gold), and you can move 

it big time.  Are governments good at that?  Yes, they are good at that.”

Eric King:  “Of course you were part of the President’s Working Group on Financial Markets, so nobody knows this stuff better than you.  But the gold market, they (the governments) are still in there as the central banks are expanding their balance sheets, trying to hold (the price of) gold down.”

Dr. Malmgren:  “You know it’s interesting, I think at the end of the day what really matters is that emerging markets like China, Russia, they are definitely increasing their holdings of gold.  And I find it quite extraordinary how they can increase their holdings of gold so dramatically and yet the price goes down...."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/18_Former_White_House_Official_-_Western_Default,_China_%26_Gold.html