In the aftermath of a brutal takedown in the gold and silver markets, today whistleblower and London metals trader Andrew Maguire exposed the sinister reason for the surgical attack in the gold market and says a shocking amount of physical gold is flowing into China and India.
Shocking Premiums For Gold In China & India
Andrew Maguire: “As a result of the war on gold, very large physical premiums and demand have arisen. In China we are witnessing large premiums escalate, and we are also getting reports of $300 smuggling premiums in India. This morning (in China), the Shanghai Gold Exchange premiums were close to $42 per ounce. And those that are saying this is just tight supply and not big demand are wrong. Over the last 2 weeks we have evidenced consistent large Shanghai Gold Exchange premiums over London spot. Last Thursday, I reported a 55-tonne gold delivery into the Shanghai Gold Exchange from our refiner at a $36 premium to Wednesday’s GLD closing price…
Continue reading the Andrew Maguire interview below…
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Andrew Maguire continues: “Again, On Friday, I reported a similar large, direct from refiner sale into the Shanghai Gold Exchange. These transactions are just what I am aware of, and they aggregated to over (a staggering) 105 tonnes.
Central Planners Declare War On Cash And Gold
I do understand the frustration market participants are feeling. I report what I see from a wholesale market perspective and how that relates to the synthetic market. The current aggressive selling action we saw targeting gold after the US election has left a lot of people scratching their heads. Central planners were caught majorly offside by the Trump victory at a time when gold had every reason to breakout above the year’s highs at 1377.50. This presented a major problem for central planners so the best form of defense became attack through the synthetic markets.
By connecting the dots since the election what has become clear is that we are witnessing a centrally planned war on both cash and gold. Eric, there are no such things as coincidences. The war on cash is now well telegraphed but it is not wildly recognized that the war on cash relates directly to gold. One only needs to connect the dots. Removing cash from the banking system drives people into gold. Gold is and always will be money and it cannot be withdrawn from circulation or bailed in. Owning Gold is the only way to unshackle from a failing banking system.
Central planners are moving to remove cash from the global banking system to give them direct control over people’s lives. The suggestion that cash is for criminals is being floated in stages by the bought and paid for mainstream propaganda machine. The plan to step up capital controls after Clinton was to be elected was already well underway. On the 2nd of October, the ABC News Network in Australia headlined an article titled ‘Cash is for Criminals, why we should scrap big notes.’ This outrageous suggestion follows a slew of similar unchallenged mainstream articles implying those who oppose this are either criminals or terrorists.
Secretive BIS Initiated War On Cash That Brought India To Its Knees
On November the 9, the Indian war on cash began. Note the timing was on the day Trump was elected. India was not acting alone. Removing the largest currency notes from circulation without any notice was a previously centrally planned orchestrated trial balloon inflicted upon the poor Indian public. Much like the Cyprus bailout that caught the population and business community offside, insiders were protected because they knew what was being planned and took action to insulate themselves before the November 9th attack on cash. It is implausible that Indian officials acted alone. It would be naive to think that any central bank can act without the approval of the BIS.
Every two weeks of the year, all central banks meet in Basil Switzerland at the BIS headquarters. All central bank actions are discussed, coordinated, and approved by central bank insiders. Modi sits at the top table, which is secret even within the BIS structure. No public records are kept but this is where all central bank plans are sanctioned. It is implausible that Modi acted without centrally planned approval. Insiders once again front ran the turmoil that ensued. The chaos that followed brought India to its knees. The excuse was that they were targeting so-called ‘black money,’ which is simply money that has for millennia transacted outside the control of the governments tendrils and the related tax authorities. However, this move has ended up backfiring as it is driving millions of people into gold. Hence the staged attack on the official gold industry. All of these events are centrally coordinated.
The Move To Shut Down India’s Gold Imports
It is not a coincidence that India then coordinated a move to shut down the official gold industry just as Indians seasonally move in to buy in large tonnage size for the wedding season. In addition, season or not, Indians react to discounts to stock up and accrue physical. In full anticipation of this buying effect, government officials froze the bank accounts of 50 of the largest gold dealers and jewelers ahead of the centrally planned attack on gold.
Expect Capital Controls For The U.S. And Europe…
Centrally planned capital controls are becoming more visible every day, everywhere. Beware, this is planned for Main Street USA and Europe and is at a mature stage of development. The Indian experiment was a trial and is being watched but is backfiring badly. The coordinated official spin was that this would kill the gold market. It has killed the official market but in realty it has had the exact opposite effect, driving everyone into smuggled or black market gold, including millions of people who never participated in the black market before.
As Gold Smuggling Into India Skyrockets
All but a tiny, wealthy proportion of the Indian people will never trust government issued bank note again. As a result, smuggled gold demand has exploded from the 20-30 tonnes per month, (World Gold Council estimate), to closer to 40 tonnes. My wholesale contacts estimate this could be much higher within 3 months. The premiums for smuggled gold are enormous. People will pay a premium just to stay under the radar. At the margin, this fresh demand from India alone is enough to tip the already tight supply/demand balance over the edge but now as predicted, we are seeing a massive move of black, or tax invisible money, moving into gold globally. Everyone is looking at the Indian experiment and relating it to what is coming down the pipe in the Western world.
The Real Reason For The Surgical Attack In The Gold Market
This is why we are seeing such an aggressive official move to attack gold on every front. Anticipating the race into gold, officials moved in to attack gold, to create so much unnecessary volatility that people are scared away from the gold market. However, it is only the paper market speculators that are scared away. Replacing them are fresh physical buyers.
Connect the dots and timings of these recent events, these are not coincidences. This is a centrally planned surgical attack on the gold market because this is where the cash is flowing. But inadvertently, it has forced large physical demand globally. Of course, people are scratching their heads as to why gold has been slammed down and why it got so much traction. It’s because this is a war.
But let’s look at the result of this orchestrated $200 selloff and why…To continue listening to this extraordinary KWN audio interview with whistleblower Andrew Maguire, where he discusses the gold and silver smash, what is really happening with gold demand in India and China, government plans for capital controls and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: A Major Warning Signal Was Just Triggered That Preceded The Last Collapse CLICK HERE.
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