- Maguire – Fed, LBMA, Comex & Banks On The Edge Of Disaster!
London metals trader Andrew Maguire, who broke the news to King World News about two courageous JP Morgan whistleblowers confessing that JPM manipulates the gold and silver markets, warned KWN that the Fed, LBMA, Comex, and the bullion banks are now on the edge of disaster. He also told KWN exactly where massive central bank buying will come into the gold market. Below is what Maguire had to say in this powerful interview.
Maguire: “The downside for the central banks is that short-term interventions have further emptied the physical vaults (once) again. And where is this gold coming from? It’s coming out of unallocated bullion bank inventories (at the Comex). The central banks may be leasing out gold, but it’s not leaving their vaults (at this time)….
The Fed is so desperate to defend the (US) dollar against gold in the foreign exchange markets that we are moving ever-closer to an inevitable LBMA default, with a cash bailout of the bullion banks. Wholesale demand in London remains well over elevated (historic levels), and it’s been in sovereign size this week. And any dip under $1,300 would again bring in large central bank buying.