On the heels of a cascade of selling in gold and silver, today
whistleblower Andrew Maguire spoke with King World News about the
extraordinary intervention which took place in both of these markets.
Maguire also told KWN about the staggering amount of physical gold
tonnage that Eastern central banks were attempting to buy today alone,
in a market that, remarkably, is not seeing any supply. Below is what
Maguire had to say in part II of his remarkable and exclusive interview.
Maguire:
“It’s pure short selling in the paper market, and the focus of all of
this all is to reach and target as many long-stops as possible which
they have done this afternoon. Then they can obviously cover these
paper short sales.
Historically, in order to
succeed when the official sellers have come in, they have relied on
being able to back up the paper market interventions with real physical
supply, albeit, hypothecated or re-hypothecated, borrowed or leased
bullion....
“It’s easy to look at the technicals today
and see this cascade down, that’s the long stops being tripped. But
what we are seeing now is none of the physical supply is appearing.
None of it is going to back up these sales. So this is a clear sign of
weakness.
Now the bullion banks are
really trading the Fed’s ‘virtual market book,’ but they are
constrained. They are really constrained as to how far they can push
these paper prices because the ... Eastern hemisphere central banks, who
are competing with each other to buy (physical) bullion, these are the
guys that are picking up this discount. This (smash in gold) results in
an exponential ramp-up in their physical buying.
All they (central planners)
are doing is delaying an extremely disorderly rebound (in the price of
gold). Give it a few days because at least 90 tons of central bank
buying today was seen below $1,550, into the afternoon fix (in London).
As we cascade down here you can guarantee that what they (Eastern
buyers) are doing is ‘spot indexing,’ which is basically locking in the
price in the paper market and will allocate that at an upcoming fix (in
London).
So I give it (at the most)
two to three days before this has a massive rebound effect, and the
short fuel above the market now is at absolutely unprecedented levels.”
Maguire also added:
“The fact that official sellers are even more reliant on massive
coordination on mainstream media and verbal interventions to back up
these virtual sales, it’s not going unnoticed by Middle-Eastern and
Eastern centric central banks and sovereigns.”
kingworldnews.com
