- Maguire – China Moves To Crush The West In The Gold Market!
London metals trader Andrew Maguire told King World News that in the gold war, China has just struck a major blow to the West and their LBMA paper Ponzi scheme. He also spoke about what is going on behind the scenes in the war on gold. Below is what Maguire said in Part III of his powerful interview.
Maguire: “An increasing number of producers are being approached by China to buy their forward production, and at a premium over spot….
“And I have reliable information from one of the producers I deal with that they are getting a forward sale price equivalent to just a small discount over the strong Shanghai closing wholesale premiums. They (those premiums in Shanghai) average around $15 per ounce, but have been as high as $30 per ounce.
Even today’s premium of $17 is a substantial premium over the dilutive London spot price. And it’s undermining the LBMA’s efforts to steal forward production at a discount. But what’s really flying under the radar here, Eric — and this is a big deal — this is essentially a ‘shadow’ wholesale fix being set in Shanghai, well ahead of the AM and PM London fixes, and it’s going completely unnoticed and unreported by the (mainstream) media.