Today London metals trader Andrew Maguire warned King World News that China is on the brink of winning the Gold War against a corrupt West. Maguire also warned that this has gold and silver prices set to skyrocket.
IMPORTANT: The King World News site was taken offline by the powers that be shortly after the interview with Chris Powell and the audio interview with Andrew Maguire were posted. The staff has been able to bring the site back online and we will continue to do our best to stay online.
Andrew Maguire: “I can tell you, Eric, that the commercials are on the long side (of the gold and silver markets) for sure. One only has to look at these same actors' footprints in the much smaller and more visible silver market to foreshadow what these insiders are about to do in gold….
Continue reading the Andrew Maguire interview below…
“And that is to ring the register on extremely large, wrong-footed hot-money short positions.
Silver always provides the first clue as to what these collusive traders are doing in gold. And when we see the hot-money weak hands, I’m talking about the managed money hedge funds, build a gross short position in silver that reaches record levels, we know that on the long side of each of these positions are the market-making concentrated bullion banks.
And it’s impossible for this hot money to win these short bets. That’s because these positions are aggregated among many traders, whereas the insider bullion banks, along with the Bank for International Settlements, are colluding as one unit.
These naked short sellers in silver have run out of sufficient short fuel and there is very little remaining open interest to milk out of silver. These funds have recently used profits to fund even more short positions (in silver). This makes their low-hanging short stops extremely vulnerable to a major rinse.
Expect $20 Silver And $1,300 Gold On Massive Short Covering
This (silver market) is about as coiled a spring as you can get and it should be sufficient to see a $20 print just on short covering alone. And that’s not even accounting for fresh bid interest that would come in when we see markets move higher. Both gold and silver are set up for a very large move higher.
There is also sufficient low-hanging short fuel above the market to propel gold into first resistance in the $1,300s. Where this short fuel is vulnerable right now is right at the confluence of some very low altitude moving averages, which are all in a very small range of each other. The (manipulated) price (of gold) is so far below the real fundamental price that when we breach these averages it’s going to trip off a multitude of naked short stops.
Central Banks Eyeing Each Other's So-Called Gold Holdings With Suspicion
What I am saying is the paper markets have dictated the price, regardless of the fact that the real physical market is screamingly oversold. These divergences can only be resolved to the upside. Gone are the days when a central bank could borrow gold to supply into the market. They are too busy repatriating rehypothecated positions back to their owners.
Central banks are eyeing each other with suspicion when it comes to their gold holdings. And we are (now) seeing the splits in the ranks as more countries quietly align themselves with China and the BRICS countries — all of whom see the value of building (significant) gold reserves.
China On The Brink Of Winning Gold War And My 2009 Warning To The CFTC
If you don’t have gold, you are not in the club, and if it’s not in your vault, you don’t have it. There is no doubt China is on the brink of winning a financial gold war against the corrupt Western powers that have used taxpayers' money to keep this Ponzi scheme going for so long.
What this all says is right here and right now we are seeing unprecedented drivers that will change the rigged paper market game forever. I warned the CFTC back in 2009 that one day the physical market would overrun these too-big-to-fail bullion banks and do the CFTC's job for them. The only difference now is that the derivative fallout will be far worse than it would have been back then.” ***KWN has now released the remarkable audio interview with Andrew Maguire, where he discusses a major surprise that China has for the gold market and a major shock that the bullion banks are preparing for right now, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Bill Fleckenstein – A Loss Of Confidence In The Fed And The Most Important Data In 6 Years CLICK HERE.
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The audio interviews with Andrew Maguire, Rick Rule, Bill Fleckenstein, John Mauldin, Michael Pento, Gerald Celente, Egon von Greyerz, Dr. Paul Craig Roberts, James Turk, Dr. Philippa Malmgren, Eric Sprott, Robert Arnott, David Stockman, Marc Faber, Felix Zulauf, John Embry and Rick Santelli are available now and you can listen to them by CLICKING HERE.