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.