The Organized Crime / Banking At Its Finest Show Special

In a special edition of their podcast-show the Canadian financial analyst Rob Kirby and the financial journalist Lars Schall talked about the recent plunge in the price of gold and silver (which was actually in one case an extremely unlikely standard deviation event of estimated 8+) and other related topics.

By Lars Schall

Here’s the podcast, recorded Sunday, April 28, 2013:

The link for the podcast is:

With regards to the 8 Standard Deviation Move, that Rob Kirby mentioned, see here for example.

Related to “the recent smash in the paper gold market“ and the question “whether it may signify that Western government gold reserves, particularly U.S. gold reserves, are a lot larger than reported, or if world gold holdings generally are a lot larger than estimated,“ you may want to read: So where’s all the gold coming from?

Rob Kirby, who is the publisher of the “Kirby Analytics Newsletter“ and a consultant to the Gold Anti-Trust Action Committee (, was born 1960 in Halifax, Nova Scotia, Canada. He studied Economics  at York University in Toronto. Upon completion, he went to work in the Bay Street, the financial district in Toronto. He served on an institutional trading desk for most of the 1980s and right up until 1996. For 11 years he worked at Prebon Yamane, an international inter-dealer broker, and one year at Freedom Bond Brokers (now part of Cantor Fitzgerald). Afterwards he spent two years at Garban Inc., another inter dealer bond brokerage in Toronto. In 2002, he went to work for Investor’s Group, the largest Mutual Fund Company in Canada, and stayed there up until 2004, when he resigned to write about the markets. His website is: Mr. Kirby lives in Toronto, Canada.

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5 Responses to “The Organized Crime / Banking At Its Finest Show Special”

  1. Bill Silverthumb sagt:

    There’s a very good chance that most of the gold held by the US has been used up in mostly unsuccessful attempts to lower or hold back the gold price. This gold now sits securely in India, China, and the other countries smart enough to know that gold is real money.

    The US is so desperate to hold down the price, that rather than go into the gold market and buy the gold to return to Germany, they gave the 7 year timetable. If they need 7 years to return 300 tons, it is very difficult to believe that the US has 8,000 tons of gold.

    Its embarrassing that they weren’t even smart enough to lie about it. Its probably because idiots like Paul Krugman and Ben Bernanke don’t believe that gold is money. Tell ya what, you ignorant PhDs, you take the paper and I’ll take the gold.

  2. Bill Osborne sagt:

    Excellent interview. Lars and Rob rock!

  3. rob kirby sagt:

    Back in 1998, Paul Krugman charaterized the importance of the internet – on a go forward basis – to that of fax machines years earlier [google it] – and be somewhat immaterial by 2005.

    “The growth of the Internet will slow drastically, as the flaw in „Metcalfe’s law“ – which states that the number of potential connections in a network is proportional to the square of the number of participants – becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.”

    Mr. Krugman’s ability to correctly analyze macro ecomonic trends is clearly shown to be lacking on an historical basis.

    This did not stop the Nobel Committee from awarding Mr. Krugman the Nobel Prize for Economics in 2008 – his reward for COMPLETE MACRO ECONOMIC FAILURE.

    You cannot make this stuff up,
    Rob Kirby

  4. jack sagt:

    thanks for the article.
    you two make a good team.

    you would be well suited to investigate the disappearance of canada’s gold in the early 80’s.

    ..see where that story leads to.

  5. Ann sagt:


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