Maguire – Massive 580 Tons Of Gold Purchased In Just 7 Days
Today whistleblower Andrew Maguire told King World News that Eastern
Central banks have purchased a staggering 580 tons of physical gold in
just the last 7 trading days. This means Eastern Central banks just
purchased a stunning 25% of the world’s annual gold mine production in
just 7 trading days. This was the largest purchase of physical gold
during any 7 trading day span in history. Maguire, who recently
appeared in the CBC production “The Secret World of Gold,” also
discussed the brutal takedown in the gold and silver markets as well as
the disappearing inventories in part one of a series of written
interviews that will be released today.
Maguire: “The
lower these prices are set in the paper (gold and silver) markets, the
stronger the physical buying becomes. But it’s totally unsustainable.
And given the incredibly bullish COMEX structure now, and the global
market underpinning, these paper sales just cannot continue any longer.
Officials have not been selling any physical gold for many months now….
“However, by manipulating the gold price lower through the foreign exchange interventions, they’ve succeeded in forcing 600 tons of ETF redemptions, COMEX capitulation, and drawn in an unprecedented level of fresh managed money short supply. This has now successfully allowed the bailout of the bullion banks to the point where they have been able to get net long (gold) futures. The two primary bullion banks that we all know about are net long.
But from a cash forex trading (currency trading) point of view, we are definitely still seeing aggressive official intervention, including the post-Bernanke smash (in the metals). Any time he speaks we get the same thing. The problem is this cash market intervention is also causing precious (metals) bullion inventories to deplete at a much faster rate than if gold was priced at $1,900.
Now I have contacts very close to the centers of influence in China, and I’m absolutely certain there is an escalation of this rapid exchange of dollars and euros for gold. These spot indexed long gold/short dollar transactions (by the Chinese) are (ultimately) closed by seeking and taking physical allocations of (gold).
This is a huge deal, and it crystalizes the paper shuffle into real bullion. That is (gold) bullion which is leveraged and underpinned by just a fraction of its face value (because of the LBMA paper Ponzi scheme).”
Eric King: “Andrew, let me ask you about (physical gold) tonnages taken out of the market by central banks. What have you seen (in terms of physical offtake) on this massive move to the downside?”
Maguire: “Well, Eric, since we’ve cracked $1,300, it (physical offtake) has been so large. In May and June we saw record numbers far in excess of (global) mine supply. Just (physical gold demand) from China and India was far in excess of mine supply.
China, alone, (their massive physical demand) in June has exceeded (global) mine supply. If you look at all of the others, you’ve got Russia, the Eastern trading blocs, when you add it all together (their physical gold buying), we have exceeded mine supply by double the amount.”
Eric King: “Can you give out any number there to be specific?”
Maguire: “Eric, we are talking about a massive 580 tons (25% of annual mine production) of physical gold purchased by the Eastern central banks since June 20th.”
IMPORTANT - The extraordinary audio interviews with Eric Sprott and Andrew Maguire have now been releasedand you can listen to them by CLICKING HERE. KWN will also be releasing written interviews all weekend with billionaire Eric Sprott and Andrew Maguire.
Andrew Maguire’s trading service has returned a staggering $98,715 for each and every (single) contract tradedin the gold and silver markets over the past 12 months. For those who would like to get more information on Maguire’s incredible trading service and to sign up you can do so by CLICKING HERE.
IMPORTANT - This is part I of a series of written interviews which will be released and it is only a small portion of what Maguire had to say in his extraordinary audio interview. The KWN audio interview with Andrew Maguire isavailable now and you can listen to it by CLICKING HERE.
© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
The audio interviews with Eric Sprott, Andrew Maguire, John Hathaway, Dr. Paul Craig Roberts, MEP Nigel Farage, Rob Arnott, Egon von Greyerz, Gerald Celente, Jim Grant and Art Cashin are available now. Also, be sure to hear the other recent KWN interviews which include Marc Faber and Felix Zulauf by CLICKING HERE.
http://americannationalmilitia.com/maguire-massive-580-tons-of-gold-purchased-in-just-7-days/
“However, by manipulating the gold price lower through the foreign exchange interventions, they’ve succeeded in forcing 600 tons of ETF redemptions, COMEX capitulation, and drawn in an unprecedented level of fresh managed money short supply. This has now successfully allowed the bailout of the bullion banks to the point where they have been able to get net long (gold) futures. The two primary bullion banks that we all know about are net long.
But from a cash forex trading (currency trading) point of view, we are definitely still seeing aggressive official intervention, including the post-Bernanke smash (in the metals). Any time he speaks we get the same thing. The problem is this cash market intervention is also causing precious (metals) bullion inventories to deplete at a much faster rate than if gold was priced at $1,900.
Now I have contacts very close to the centers of influence in China, and I’m absolutely certain there is an escalation of this rapid exchange of dollars and euros for gold. These spot indexed long gold/short dollar transactions (by the Chinese) are (ultimately) closed by seeking and taking physical allocations of (gold).
This is a huge deal, and it crystalizes the paper shuffle into real bullion. That is (gold) bullion which is leveraged and underpinned by just a fraction of its face value (because of the LBMA paper Ponzi scheme).”
Eric King: “Andrew, let me ask you about (physical gold) tonnages taken out of the market by central banks. What have you seen (in terms of physical offtake) on this massive move to the downside?”
Maguire: “Well, Eric, since we’ve cracked $1,300, it (physical offtake) has been so large. In May and June we saw record numbers far in excess of (global) mine supply. Just (physical gold demand) from China and India was far in excess of mine supply.
China, alone, (their massive physical demand) in June has exceeded (global) mine supply. If you look at all of the others, you’ve got Russia, the Eastern trading blocs, when you add it all together (their physical gold buying), we have exceeded mine supply by double the amount.”
Eric King: “Can you give out any number there to be specific?”
Maguire: “Eric, we are talking about a massive 580 tons (25% of annual mine production) of physical gold purchased by the Eastern central banks since June 20th.”
IMPORTANT - The extraordinary audio interviews with Eric Sprott and Andrew Maguire have now been releasedand you can listen to them by CLICKING HERE. KWN will also be releasing written interviews all weekend with billionaire Eric Sprott and Andrew Maguire.
Andrew Maguire’s trading service has returned a staggering $98,715 for each and every (single) contract tradedin the gold and silver markets over the past 12 months. For those who would like to get more information on Maguire’s incredible trading service and to sign up you can do so by CLICKING HERE.
IMPORTANT - This is part I of a series of written interviews which will be released and it is only a small portion of what Maguire had to say in his extraordinary audio interview. The KWN audio interview with Andrew Maguire isavailable now and you can listen to it by CLICKING HERE.
© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
The audio interviews with Eric Sprott, Andrew Maguire, John Hathaway, Dr. Paul Craig Roberts, MEP Nigel Farage, Rob Arnott, Egon von Greyerz, Gerald Celente, Jim Grant and Art Cashin are available now. Also, be sure to hear the other recent KWN interviews which include Marc Faber and Felix Zulauf by CLICKING HERE.
http://americannationalmilitia.com/maguire-massive-580-tons-of-gold-purchased-in-just-7-days/
