LBMA Now Staring At Another Gordon Brown Abyss

Today whistleblower Andrew Maguire warned King World News that the LBMA is now staring dangerously into the abyss once again.  Maguire, who recently appeared in the CBC production “The Secret World of Gold,” described this stunning situation as “very similar to the abyss that Gordon Brown stared into when the Bank of England was forced to bailout Goldman Sachs 13 years ago.”  Below is part one of a series of extraordinary written interviews that will be released today with Maguire on King World News.

Maguire:  “The mainstream media has this myopic focus on the over 600 tons of GLD redemptions, while in reality we are witnessing massive bullion demand far in excess of these relatively small ETF redemptions.  This bullion demand is actually putting enormous pressure upon immediately deliverable LBMA bullion stocks.

What is notable, Eric, is that since the ABN AMRO bank default became public, it forced that defensive attack by the Fed and the Bank for International Settlements….

“I know we talked (on KWN) about it right as it happened, and it forced that defensive attack.  It was a desperate attempt to bail out an imminent collapse of the largest bullion houses in London.  And despite an over $400 rigged decline in the gold price, Eric, here we are back full circle, with the bullion bank inventories again under stress.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/19_Maguire_-_LBMA_Now_Staring_At_Another_Gordon_Brown_Abyss.html

LBMA Gold Flight Now Threatens Financial System

Today whistleblower Andrew Maguire warned King World News that the massive flight of gold out of the LBMA “has now become a major threat to the Western central banking system.”  Maguire, who recently appeared in the CBC production “The Secret World of Gold,” takes KWN readers around the world on a trip down the rabbit hole once again in part two of a series of extraordinary written interviews that will be released today. 

Maguire:  “The question that keeps coming up to me is how long can this paper market selling continue?  How can it continue to drive price when at the same time we are actually seeing such a massive transfer of physical underway into the Eastern trading blocs?

This recent heavily margined forced capitulation was absolutely Fed-induced.  And the only short-term goal of this was bailing out the defaulting bullion banks.  If you remember, we talked about this back in April after ABN AMRO exposed the whole LBMA system to a probable default.  This was a (major) crack in the system….

“The result of this official intervention:  There’s a tradeoff involved here because it’s tipped the balance and irreversibly broken the relationship between the paper markets and the global physical markets now.

The majority of all traded volumes are actually paper gold in the far less transparent over-the-counter foreign exchange markets.  People believe it (the manipulation) is all happening on the COMEX, but it’s not.  This (over-the-counter trading) is actually much more of a tool for the Fed and the Bank for International Settlements (BIS) than directly intervening in the COMEX.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/28_Maguire_-_LBMA_Gold_Flight_Now_Threatens_Financial_System.html

Stunning Volume On Gold & Silver Smash In Suspect Trading

Today one of the savviest and well connected hedge fund managers in the world spoke with King World News about the smash in the gold and silver markets and what to expect going forward.  Outspoken Hong Kong hedge fund manager William Kaye also discussed the stunning volume in the gold and silver markets, as well as the suspect nature of the trading, and the propaganda coming out of the U.S. Federal Reserve.  Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, had this to say in his tremendous interview.

Eric King:  “We are in the midst of a massive gold and silver plunge here, Bill.  What are your thoughts on the action we are seeing?”

Kaye:  “It’s the end game of a fantastic manipulation of the markets.  I’m looking at my screen now as we talk, Eric.  I’m in L.A. (Los Angeles), but we are still in Asian (trading) time with London just coming in at the moment, and we’ve traded over 94,000 contracts.

So passing the baton to London we will have already traded 100,000 contracts.  A normal night (during Asian trading) would be 20,000, to put that in perspective.  So the question is, who is selling all of these contracts at levels that are multi-year lows?  Who’s so keen to sell?….

“And if you need to sell, why are you selling at the worst time of day?  Why are you selling in Asian time, which is always the thinnest section of trading?  Why don’t you wait for London and Chicago to take over?

And the answer is very obvious:  These markets are clearly and blatantly being manipulated.  The people doing it have clear price objectives.  My guess is they want to see a print below $1,300 (on gold) before they are done.  That will allow people (trading for the bullion banks) to make profits on their shorts.

The bullion banks, from the Commitment of Traders Reports that we’ve seen plus other information that we’ve gathered, strongly indicates that the banks, which are the  centerpiece of this conspiracy, have shifted rapidly from being on the edge of default, as ABN AMRO has already done, to being net long, and in some cases being very net long.

So they (bullion banks) have taken the opportunity that’s been provided by the cover from what would appear to be official intervention, in what I suspect is the Fed and possibly the ECB, to take the other side of that trade.  Now they are extremely net long and that sets the stage, in addition to a very promising technical picture, for a very powerful rally as we look at next week, into July and beyond.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/20_Stunning_Volume_On_Gold_%26_Silver_Smash_In_Suspect_Trading.html