Maguire: “Gold and silver only have this type of selling
when there are extreme shortages of the physical metal. I am totally aware that
before this takedown occurred there was an imminent LBMA default.
We had already seen COMEX inventories plunging. In
90 days COMEX inventories saw an incredible decline. So immediately available
physical gold was disappearing. People around the world don’t understand what
has been happening since Cyprus....
“Entities went to the LBMA and said, ‘We don’t trust
anybody anymore. We want our physical metal.’ They were told they would be
cash settled instead by a bullion bank. The Western governments have been
trying to plug holes, and the reason for it has to do with the default that was
taking place at the LBMA.
This is why this smash has been orchestrated because
of the run that has been taking place on physical metal. So Western governments
had to do this because of an imminent run on the unallocated LBMA system. The
LBMA bullion banks had become so mismatched at one point on their trading
positions vs real world demand that they had to orchestrate this smash.
This orchestrated smash in gold and silver was
nothing short of a bailout for the bullion banks. So there is a run on physical
gold that is taking place and the Ponzi scheme the West is running is being
threatened because of it.”
Maguire also added: “We
are nearing the end of this decline. Physical demand is already beginning to
catch up with leveraged paper. If gold were to trade into the low $1,300s it
would be unsustainable for very long.”
No comments:
Post a Comment