Maguire – West Loses Staggering Amount Of Gold In Takedown
October 12, 2013
On the heels of Friday’s plunge in the price of gold and silver, today London metals trader Andrew Maguire told King World News that the West lost a staggering amount of physical gold in the takedown. He also warned that the gold market is now “stretched beyond anything that’s credible here.” Below is the second in a series of powerful interviews with Maguire that will be released today.
Eric King: “Andrew, as we see this smash unfolding, what kind of (gold) tonnage are we talking about being taken out of the market here?”
Maguire: “When you see, in one trade, over 80 tons of paper supply coming in, who do you think is on the buy side? That (chaotic trading) enables the central banks to come in and literally buy (quietly). Bear in mind that this paper supply which is coming into the market is leveraged, it’s naked and it’s leveraged….