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Maguire:  “It’s pure short selling in the paper market, and the focus of all of this all is to reach and target as many long-stops as possible which they have done this afternoon.  Then they can obviously cover these paper short sales.


Historically, in order to succeed when the official sellers have come in, they have relied on being able to back up the paper market interventions with real physical supply, albeit, hypothecated or re-hypothecated, borrowed or leased bullion....


Continue reading the Andrew Maguire interview below...




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“It’s easy to look at the technicals today and see this cascade down, that’s the long stops being tripped.  But what we are seeing now is none of the physical supply is appearing.  None of it is going to back up these sales.  So this is a clear sign of weakness. 


Now the bullion banks are really trading the Fed’s ‘virtual market book,’ but they are constrained.  They are really constrained as to how far they can push these paper prices because the ... Eastern hemisphere central banks, who are competing with each other to buy (physical) bullion, these are the guys that are picking up this discount.  This (smash in gold) results in an exponential ramp-up in their physical buying. 


All they (central planners) are doing is delaying an extremely disorderly rebound (in the price of gold).  Give it a few days because at least 90 tons of central bank buying today was seen below $1,550, into the afternoon fix (in London).  As we cascade down here you can guarantee that what they (Eastern buyers) are doing is ‘spot indexing,’ which is basically locking in the price in the paper market and will allocate that at an upcoming fix (in London). 


So I give it (at the most) two to three days before this has a massive rebound effect, and the short fuel above the market now is at absolutely unprecedented levels.” 


Maguire also added: “The fact that official sellers are even more reliant on massive coordination on mainstream media and verbal interventions to back up these virtual sales, it’s not going unnoticed by Middle-Eastern and Eastern centric central banks and sovereigns.”


Andrew Maguire has an absolutely incredible trading service.  For those who would like to get more information and sign up you can do so by CLICKING HERE.


This second of two written interviews is only a small portion of what Maguire had to say in his extraordinary 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 Dr. Paul Craig Roberts, Andrew Maguire, Michael Pento, John Embry, James Turk, Art Cashin, Gerald Celente, John Mauldin, Egon von Greyerz and Nigel Farage are available now.  Also, be sure to hear the other recent KWN interviews which include Eric Sprott, Marc Faber and Felix Zulauf by CLICKING HERE.


Eric King

KingWorldNews.com

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