After a $4 billion sale of paper gold took place in less than one minute, a question began to arise: Who was it that sold the paper gold? The answer according to London metals trader Andrew Maguire, who spoke with King World News shortly after today’s raid, is that it was the US Plunge Protection Team that was responsible for the takedown.
Today’s 17 Minute PPT Gold Raid
November 10 (King World News) – Andrew Maguire: “This week’s synthetic gold and silver action incensed most traders. Clearly the Plunge Protection Team (PPT) was behind a full week of counterintuitive selling, culminating in a major raid directly after London cleared trades today…
Advertisement
To hear which company investors & institutions around the globe are flocking to
that has one of the best gold & silver purchase & storage platforms
in the world click on the logo:
Let The Raid Begin…
Note the all too obvious footprints. Gold futures on Monday opened at 1271.20, while into Thursday gold made a high of 1289.50. Although the entire week evidenced strong physical buying, the instant London cleared trades and closed for the week, a raid took place in the paper market. The raid saw the PPT sell some 50K+ lots of December futures — 155+ tonnes of paper gold — in just 17 mins once the physical market closed. This sort of action may rinse out specs in the COMEX casino, but it forces bullion banks exposed to the physical market to bid to meet delivery demands. Based upon live reports coming in now, I expect a very strong physical delivery day on Tuesday.
Accompanied By Propaganda
Eric, we know right now that prices are rigged in the paper market casino, but what is even more interesting is the propaganda we are seeing that is designed to scare as many spec longs as possible. Officials employed the full court press this week to try and spin bearish gold stories, but the World Gold Council (WGC) report takes the cake. What a joke. This bearish report comes from the sponsor of the largest paper gold and unallocated gold flywheel — GLD. Note the comments spun on the MSM ….“ETF inflows year to date are a fraction of the stellar inflows we saw last year,” the WGC’s head of market intelligence Alistair Hewitt said. “India is similarly weak.” This is patently false as demand out of India remains strong.
The Harsh Reality
Eric, the reality is that physical gold demand is migrating away from paper gold in all forms, into physical gold vaults outside of the reach of Western central planners. But the World Gold Council propaganda is yet another example of an attempt at officially containing investment flows into physical gold and silver. Ironically, this so-called defense shows a weak hand as well as shooting the cartel in the foot as it serves to deter paper gold investors, but not physical buyers. Paper gold is the very fuel that enables this charade to continue, and the less capital that gambles in that casino, and ultimately moves that capital into physical gold, the less powerful the PPT run cartel becomes. I will have a much broader update when we speak next week.”
***ALSO JUST RELEASED: ALERT: One Of The Greats In The Business Just Issued This Major Warning CLICK HERE.
© 2017 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged.
