Jig Is Up for the Dollar – Andrew Maguire…“We are very close to a price reset (in gold and silver).”
By Greg Hunter
USAWatchdog.com
March 27, 2018
Will physical gold and silver prices ever break free of manipulation and price suppression? Renowned gold expert Andrew Maguire with Tom Coughlin, who is CEO of Kinesis that will be rolling out a gold backed currency in the fall, both say yes. So, what is it about? Coughlin explains, “It’s actually classified as a monetary system, and it’s called Kinesis. The reason we call it Kinesis is that it actually stimulates the flow of money. We see this as reintroducing the gold and silver standard through this monetary system.”
Maguire says there will be actual precious metal backing it up. Maguire says, “The backup will be gram for gram. This is the interesting part about it. We all know that the paper markets (for gold) have leverage of 500 to 1. We actually think it is much closer to 1,000 to 1 when you account for all the derivatives. . . . Here’s the thing about Kinesis. We’re talking about a market that is at the margin. It’s so tight this physical/paper market is already at the margin. We are witnessing right now real competing physical demand, and that is forcing discipline on the paper market, and it raises the point where the lines cross. . . . What’s it going to do to the paper market? It’s going to raise the offer to sell immediately deliverable physical gold. . . . Kinesis is going to be a game changer.”
So, has Comex and the LBMA already lost control? Coughlin says, “Not necessarily. My view is they will control it until the very end, until you basically get a market failure or defaulted delivery. There is a lot of defaulted delivery going on right now or delayed delivery.”
Andrew Maguire adds, “We are very close to a price reset (in gold and silver). What is a price reset? It is no more than settling . . . close to a trillion dollars of derivatives that are underwater and unable to be delivered. It is going to be a simple paper market reset. I suggest it will likely happen on a Friday . . . and there will be a known default and a price adjustment for Monday morning. . . . You will be into a bid only market. There would not be any offers to sell gold. . . . I am not going to guess on a price. . . .I know of two investor groups that are buying physical gold because they know there is going to be a physical price reset.”
In closing, Maguire says, “The jig’s up for the American dollar. Obviously, it’s not going to be overnight, but it is happening. Gold has to appreciate in this environment.”
Join Greg Hunter as he interviews gold expert Andrew Maguire with Kinesis CEO Tom Coughlin.
