Maguire: “We have now started to get the official data regarding Chinese demand through the Lunar holiday, which absolutely confirms the reports of very strong demand that I’ve been receiving from my Chinese wholesale contacts during the entire holiday period. Chow Tai Fook, the world’s largest jewelry chain, reported that between the 17th of January and February 3rd, same store sales increased by 15%!
This confirms exactly what I had been reporting to you during the Chinese holiday period. And it contradicts a well-followed and respected analyst report that was picked up by the mainstream media saying that Chinese sales were down because premiums were down. Then, going as far to say they expect Chinese wholesalers to dump (gold) inventory once the holiday was over.
The data we got directly after the new year shows these well connected banks were yet again talking their own book, while trying to continue to wrong-foot the ‘Muppets.’ Directly after the Chinese New Year was over, a very large restocking (actually) began to replenish inventories, which is the complete inverse of the misinformation the mainstream media said would be happening.
It draws attention to just how much misinformation is disseminated from ‘informed sources’ and picked up by the mainstream media. These same (bullion) banks have managed to transfer their gross COMEX short positions into wrong-footed hot money hedge funds that went hook-line-and-sinker, all-in short to record levels after Goldman Sachs and others called it a slam dunk sell.”
at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/2/22_Maguire_-_Shocking_Information_In_The_War_On_Gold_%26_Silver.html
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