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. 

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....

Continue reading the Andrew Maguire interview below...


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“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.

A rigged $400 discount may have delayed the default, but it also ramped up Eastern hemisphere bullion buying, and was far in excess of what was gained.  I guarantee you that was not in the plan when they rigged this (takedown).

Thanks to the paper discount, the LBMA fractional reserve bullion inventories have been drawn down at such a fast rate that there is lots of evidence they are now running on fumes.  Eric, the smashdown has enabled the bullion banks to cover their paper shorts, but the Western central banks are deeper in the glue now than they ever were.

These outsized, mismatched leases are having to be rolled over while they scramble to meet this unanticipated Eastern hemisphere demand.  By the Fed creating such huge downward derivative momentum, what they did was they unleashed a monster.

Taking the price (for gold) sub-$1,300 was a fatal mistake.  What it has done is accelerated the physical demand exponentially and placed the whole fractional reserve Western bullion banking system back at risk again.  This is very similar to the abyss that Gordon Brown stared into when the Bank of England was forced to bail out Goldman Sachs 13 years ago.”

IMPORTANT - The written interviews are only a small portion of what Maguire had to say in his extraordinary audio interview.  The KWN blockbuster audio interview with Andrew Maguire discussing gold, silver, the LBMA collapse and much more is available now and you can listen to it by CLICKING HERE. 

Andrew Maguire’s trading service has returned a staggering $98,715 for each and every (single) contract traded in the gold and silver markets over the past 12 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.

© 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 Gerald Celente, Andrew Maguire, John Mauldin, Dr. Paul Craig Roberts, Art Cashin, William Kaye, Marc Faber, Stephen Leeb, Dr. Benn Steil, Eric Sprott, John Hathaway and Nigel Farage are available now.  Also, other outstanding recent KWN interviews include Jim Grant and Felix Zulauf to listen CLICKING HERE.

Eric King

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