Hedge Funds Gold Shorts To Get Massacred

Today whistleblower Andrew Maguire stunned King World News when he said that hedge funds which are heavily short gold will get massacred and may in fact go under. Maguire, who recently appeared in the CBC production “The Secret World of Gold,” also spoke about extraordinary events taking place at the LBMA, where bullion banks are in serious trouble once again. Below is part two of a three part series of extraordinary written interviews that will be released today with Maguire on King World News.

Maguire: “The LBMA bullion stocks are thin. For example, the LBMA delivery conditions were extended from 2 days to 5 days. Why do you think this little known decision to extend delivery times was made at the request of the bullion banks? The fact is that the gold market has been in tight supply for some time now.

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There is just very little physical (gold) for sale in size at these current levels. In the past I reported leased gold regularly appeared at the (London) fixes, where the Bank of England would step in at the clearing hour, after the fix, to lend metal to meet these delivery shortfalls….

“Much less of this is now happening. Many of these accrued positions, they already can’t be paid back within the originating terms. So on a short-term basis they have to be rehypothecated, further rolled out, and they match even further out forwards and futures (contracts).

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/19_Andrew_Maguire_-_Hedge_Funds_Short_Gold_To_Get_Massacred.html

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.

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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

We Are Witnessing Historic & Shocking Events In Gold

With gold and silver skyrocketing and the U.S. dollar plunging, today the man who first spotted the historic LBMA backwardation told King World News that we are now witnessing shocking and earth-shattering events in the gold market.  Incredibly, last Monday James Turk was the first person in the world to expose the historic backwardation event at the LBMA and King World News was the first to report on it.  Other sites soon followed suit by covering this earthshaking event, but today the man who first spotted it tells KWN readers around what to expect next as these incredible and historic events unfold and the gold market catches fire.

Turk:  “Eric, when I told you early on Monday that something shocking had taken place in the gold market, it really was an earthshaking event and we are seeing the results of that now.  It was clear that there was going to be an explosion higher in gold and silver because the prices simply could not be sustained at those critically low levels.

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So there was going to have to be a catalyst and today was the first of many that are still to come….

“Bernanke has come out after-hours with some statements in a speech and it’s created this explosion in the prices of gold and silver, and the U.S. dollar appears to be in freefall.

I believe that gold has been in backwardation for quite some time, but it’s been hidden because interest rates have been manipulated.  So when I pointed out early Monday that the LBMA reported official gold backwardation, that was truly an earthshaking event.

While many sites then jumped on the bandwagon and interpreted this event in different ways, the reality is that it revealed that there is a shortage of physical gold at these prices.  So it is not at all surprising to me that the price has risen as sharply as it has, because those desperate to get their hands on physical gold are now bidding up the price as we speak.

This is a desperate attempt to get entities to part with their physical gold and take paper currency instead.  In my view it’s going to take much, much higher prices to get these entities to part with their physical gold, if they are willing to part with it at all.

The reality is that all of the physical gold is now in extremely strong hands after the latest shakedown.  So tricking people into parting with it might prove to be an incredibly difficult, if not impossible task.”

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/11_Turk_-_We_Are_Witnessing_Historic_%26_Shocking_Events_In_Gold.html