Maguire – Stunning $24 Premiums For Gold In Shanghai
February 23, 2013
Today whistleblower Andrew Maguire spoke with King World News about the stunning premiums being paid in Shanghai for gold, and what price investors and traders need to watch to see buy stops triggered on the upside in the gold market. This is the third and final in a series of interviews with Maguire lifting the curtain on what is going on behind the scenes in the ongoing gold and silver war which continues to rage. Below is Part III of Maguire’s extraordinary interview.
Whistleblower Andrew Maguire: “We were already hearing rumors two weeks ago of another CME broker default (when gold was pushing $1,700), and I think something had to be done. Up until the Monday when China went on holiday, these dips were being aggressively bought, forcing the bullion banks on the bid to meet every allocation.
This is why gold couldn’t break down below the mid-$1,650s. So what did they (bullion banks) do? They waited until the paper markets had no competition. Waited until China was on holiday and most of Asia was closed, and then they targeted absolutely visible long stops.
This (subsequent action) is drawing in auto-traded, managed money short interest, and essentially this is what they have started to cover into….