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Eric King:  “Andrew, as we see this smash unfolding, what kind of (gold) tonnage are we talking about being taken out of the market here?”


Maguire:  “When you see, in one trade, over 80 tons of paper supply coming in, who do you think is on the buy side?  That (chaotic trading) enables the central banks to come in and literally buy (quietly).  Bear in mind that this paper supply which is coming into the market is leveraged, it’s naked and it’s leveraged....


Continue reading the Andrew Maguire interview below...  




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“Unleveraged buying through the spot market is actually hidden, initially, because of this supply coming in, but it will catch up.


So, just today alone when we saw that 80+ tons coming in, you can bet your life that over 80 tons of physical (gold) was actually taken off the market at that time.  I would asses that we are going to see another 250 tons of Shanghai volumes this month, again eating up all of the (world’s gold) production supply. 


Central banks are definitely in here sub-$1,300.  We knew of a very large sovereign buyer that was sitting at $1,270 for days and days and days.  Suddenly that’s filled today (Friday).  It’s all masked by the fact there is so much fake gold in the market that it’s not noticed. 


This last week we’ve seen hundreds of tons of supply coming into the marketplace -- literally hundreds of tons, Eric.  When I say supply, I find it even hard to say that because it’s just paper.  But what it does is dilute the true fundamentals.  We are going to have (Asian) buyers coming in whether the price is $1,800 or whether it’s $1,200.


The point is, when they (the West) discount it (gold) to this degree, what it does is accelerate that process (of accumulation).  But more importantly, it enables the central banks who are trying to build reserves to move in faster and not be visible (as they accumulate).


To be honest, I think the damage has already been done.  The breach, the divergence between the real market and the paper market has reached an extreme which I cannot believe can be maintained.  We are stretched beyond anything that’s credible here.”


Eric King:  “As you’ve looked at this smash, how much gold has the West given up to the East?”


Maguire:  “It’s in the hundreds of tons.  We’ve dropped down from the mid $1,300s in the last week, all the way down nearly $100.  That’s taken a vast amount of paper supply (selling), and that paper supply is being converted into physical (gold) and removed off the market.”


Andrew Maguire’s trading service has returned over a staggering $134,000 for each and every (single) contract traded in the gold and silver markets over the past 16 months.  For those who would like to get more information on Maguire’s incredible trading service and to sign up you can do so by CLICKING HERE.


IMPORTANT - This is part II of a series of powerful written interviews which will be released and it is only a small portion of what Maguire had to say in his incredible audio interview.  The KWN audio interview with Andrew Maguire is available now and you can listen to it by CLICKING HERE. 


© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with Andrew Maguire, Art Cashin, Egon von Greyerz, Bill Fleckenstein, David Stockman, Robin Griffiths, Jim Grant, Gerald Celente, William Kaye, Dr. Paul Craig Roberts, Chris Powell and Eric Sprott are available now. Also, other recent KWN interviews include Marc Faber and Felix Zulauf to listen CLICKING HERE.


Eric King

KingWorldNews.com

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