KING WORLD NEWS - BLOG
BROADCAST../../../../Broadcast/Broadcast.html../../../../Broadcast/Broadcast.htmlshapeimage_6_link_0
HOME../../../../King_World_News.html../../../../King_World_News.htmlshapeimage_13_link_0
BUSINESS../../../../Business.html../../../../Business.htmlshapeimage_14_link_0
GREEN../../../../Green.html../../../../Green.htmlshapeimage_15_link_0
HEALTH../../../../Health_1.html../../../../Health_1.htmlshapeimage_16_link_0
ENERGY../../../../Energy.html../../../../Energy.htmlshapeimage_17_link_0
SPORTS../../../../Sports.html../../../../Sports.htmlshapeimage_18_link_0
GOLD+../../../../Gold.html../../../../Gold.htmlshapeimage_21_link_0
 
 

Whistleblower Andrew Maguire: “We were already hearing rumors two weeks ago of another CME broker default (when gold was pushing $1,700), and I think something had to be done.  Up until the Monday when China went on holiday, these dips were being aggressively bought, forcing the bullion banks on the bid to meet every allocation.


This is why gold couldn’t break down below the mid-$1,650s.  So what did they (bullion banks) do?  They waited until the paper markets had no competition.  Waited until China was on holiday and most of Asia was closed, and then they targeted absolutely visible long stops. 


This (subsequent action) is drawing in auto-traded, managed money short interest, and essentially this is what they have started to cover into....


Continue reading the whistleblower Andrew Maguire interview below...  




Advertisement


To hear the man with over 40 years of experience in the resource

markets and how he is positioning his clients to weather

the current financial storm click on the logo:






“You can be absolutely sure, Eric, that the bullion banks are short covering into this supply.  Their footprints are all over it.  I mean the premiums in Shanghai this morning were over $24 an ounce for gold.  We’re (trading) $1,608 (for gold) in Shanghai.  The paper market longs have been tricked into selling.  Obviously the managed money and the specs are now being tricked into short selling.  Who do you think is on the long side of those trades?


These bullion banks have actually successfully transferred massive short positions into very weak hands.  And this next week is going to provide large short fuel above the market.  As soon as this leveraged selling is insufficient to meet the bullion bank buying, which will happen, if not today it will be early next week.


They are simply going to run out of sell power vs what the bullion banks are forced to buy because the physical market is so strong.”


Eric King:  “Andrew, as you know they’ve been all over the mainstream media trumpeting the end of the bull market.  They are talking $1,200 gold and claiming a collapse is in front of us here, your thoughts on that?”


Maguire: “Yes, you’ve seen an absolute crescendo of it.  It’s by no coincidence either, talking about the ‘Death Cross,’ (and saying) Soros sold.  Soros sold a measly 18 tons last year.  You don’t think the guy is on the bid now?


Do you remember when you and I had this talk at the end of last year when all the rumors were that Paulson was selling?  Do you remember that you and I said ‘that’s impossible.  I guarantee he’s not selling.’  Sure enough he had not sold.  He’s the one that’s holding on to his gold position.


But the disinformation out there is amazing.  This bottoming process happens as they (the bullion banks) transfer their short positions into the weaker hands.  Because the physical market is extremely well bid here, what you are going to see is a rapid turnaround.


There is a huge amount of short fuel above the market.  I see the managed money short position, and it’s in bubble territory.  This short fuel above the market is going to force even more short covering activity because once they see prices move into the $1,600s again, you are going to see some stop limit orders coming out of the central banks.  The discount is over at that point.”


KWN has now released the audio and all three parts of the Maguire writtens interviews.  You can read the written interviews by CLICKING HERE.  You can listen to the eagerly anticipated audio interview by CLICKING HERE.


This is the third and final in a series of interviews with Maguire lifting the curtain on what is going on behind the scenes in the gold and silver war.  The write-ups are only a small portion of what Maguire had to say in his extraordinary audio interview.  The KWN audio interview with Andrew Maguire will be available later today and you can listen to it by CLICKING HERE.  ***To read parts I & II of the Maguire interview series CLICK 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 interviews with Andrew Maguire, Marc Faber, James Turk, Bill Fleckenstein, Egon von Greyerz, Felix Zulauf, John Hathaway, Gerald Celente and Eric Sprott are available now.  Also, be sure to listen to the other recent KWN interviews which included Art Cashin, MEP Nigel Farage, Michael Belkin and James Dines by CLICKING HERE.


Eric King

KingWorldNews.com

To return to BLOG click here.


 
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.html
KWN BLOGhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlshapeimage_24_link_0shapeimage_24_link_1

© 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.

Subscribe to RSS
CLICK HEREhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlshapeimage_27_link_0shapeimage_27_link_1
KWN Blog
Archiveshttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlshapeimage_28_link_0shapeimage_28_link_1
http://www.kingworldnews.com/kingworldnews/Broadcast/Broadcast.html