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.