Regarding My Friend, Andrew Maguire

There's been quite a bit of talk about Andrew these past 24 hours. I've received a handful of emails asking me for my opinion so I thought I would start this new thread.

If you're wondering what all the fuss is about, this all started yesterday when Jeffrey Christian of the CPM Group, who was speaking at the Silver Summit in Spokane, Washington, concluded his presentation with some "revelations" about Andy's personal life and background. The story was then picked up by Kitco:

http://www.kitco.com/news/2013-10-24/KitcoNews20131024DA-CPM-Group-Alleges-Whistleblower-Maguire-Has-No-Metals-History-Silver-Summit.html

Rather amazingly, just a little over an hour later, the story was picked up and repeated verbatim by Forbes:

http://www.forbes.com/sites/kitconews/2013/10/24/cpm-group-alleges-whistleblower-maguire-has-no-metals-history-silver-summit/

Hmmmm. What, if anything, do we make of this?

Beats me but I do think some context is required. Below is a link to Jeffrey's company website:

http://www.cpmgroup.com

There you'll find all sorts of interesting tidbits such as Jeffrey's scowling visage:

Also included is a bio that prominently mentions: "(Jeffrey) has advised many of the world’s largest corporations and institutional investors on managing their commodities price and market exposures, as well as providing advisory services to the World Bank, United Nations, International Monetary Fund, and numerous governments."

Not sure that's the type of endorsement most here would value but apparently Jeffrey thinks it's important. Additionally, this is worth noting, right on the homepage:

"CPM Group is known for its research and analysis of the metals markets, its overall economic analysis of commodities markets, and its expertise in financial engineering, using derivatives to structure optimized positions for commercial hedgers, and for institutional and high net worth individual investors."

So...in my humble interpretation...it certainly appears that Jeffrey and his company have a vested interest in maintaining the current, leveraged, fractional reserve derivative system. I mean, it says so right there on their home page, does it not?

Anyway, Jeffrey has had a bug up his rear for quite some time now regarding GATA, Bill Murphy and Andrew Maguire. Again, I wonder why? Just speculating here but could it be related to his company's "expertise in financial engineering that utilizes derivatives..."? GATA has worked for years to end the blatant corruption of the manipulated paper (derivative) metals markets. If GATA was ultimately successful in ending paper metal derivative manipulation, would The CPM Group need to come up with a new business plan? Again, hmmmm.

Which brings us to my friend, Andrew. It's been almost four years but do you recall just whom and which organization brought Andrew to the forefront at the CFTC "hearing"? Oh yah...it was GATA! How about that?

 

And now here is something to be seized upon. Early in the clip above, Bill Murphy states "Mr. Maguire, formerly of Goldman Sachs, is a metals trader in London..." It is this supposed Goldman Sachs lineage that Jeffrey is claiming to be false. Apparently, by extension, if Andrew didn't actually work for Goldman Sachs, then everything else he has claimed or demonstrated must then be false, up to and including the JPM whistleblowers.

First of all, regarding Goldman Sachs, I challenge anyone reading this to scour the internet and find one, single incidence of Andrew Maguire stating that he worked for Goldman Sachs. This initial claim by Bill Murphy has been repeated and reported over and over but, as far as I know, never stated by Andrew. I suppose he could have refuted it somewhere along the way but, as I know from personal experience, once you start down the path of refuting everything that gets said about you on the internet, it leaves little time for anything else.

In the end, I guess I'm confused about what this has to do with anything, anyway. Is Jeffrey claiming that unless you've worked for Goldman Sachs like him, you are not qualified to offer an expert opinion on the metals? If that's the case, how come this site is so successful? I've been a stockbroker, a mutual fund wholesaler and a failed internet entrepreneur. Does that make all of my CoT, BPR, Comex and chart analysis worthless? Apparently not. And what about Andy? All of his trades are documented on the Coghlan Capital site and the only complaint I ever heard from anyone in "Turd's Army" was that the hours were too early for the average, U.S.-based trader. If the guy consistently makes money and, as you can see on the TFMR homepage, Andy is up considerably since April of 2012, why would a Goldman Sachs background matter?

Look....Andy's been awful busy lately. We haven't even spoken for over a month. By email exchange, though, I know he was very frustrated by the sudden ending of the 5-year CFTC silver investigation and he's been working behind the scenes to get the two JPM whistleblowers a fair hearing. Knowing this, the timing and scurrilous nature of Kitco's and Forbes' reporting seems rather convenient.

I feel fortunate to consider Andrew Maguire my friend. He is a good and decent gentleman who, like me, has found himself thrust into the limelight, fighting against the central bankers, the bullion bankers and their abettor media. Though we've never met in person, I can assure you that he is an accomplished trader, wise to the ways of the international metals markets. He has a wealth of knowledge and experience, which he has unselfishly shared with me and all of us here at TFMR, in order to increase our understanding of the markets. At great personal expense, he continues to forge ahead in his quest to end the price suppression scheme that has bankrupted companies and brought great harm to their workers, particularly in underdeveloped nations. For his effort, he is subject to all sorts of personal attacks, yesterday being just the latest example.

He has my friendship and support. He should have yours, too.

TF

165 Comments

Watcher's picture

What is Jeff Christian's

What is Jeff Christian's middle name...Anti?

Spartacus Rex's picture

Thanks Turd

Jeffrey Christian is just another insider's douchebag trying to stir up sh*t

ggnewmex's picture

kudos

Enough said

288

TreeTop Dweller's picture

Bravo! Well Stated.

That is Bravo, as in kudos to you and very well written.

Not Bravo as in Delta Bravo that was appropriately stated  in an earlier thread.

murphy's picture

@JC

belongs on this thread

31525_20121030_200443_bullshit_quotes_05

tumblr_m69ycmcmhx1rpt48yo1_1280.jpg
 
quote-the-trouble-with-lying-and-deceivi
Kcap's picture

NO Silver Shortage, eh?

http://www.silverdoctors.com/massive-silver-shortage-in-europe/

There's plenty of paper silver to go around though....so, go buy some if you like that sort of thing.

Kcap

wildstylechef's picture

I've been taking on Kitco on Twitter about this

I haven't seen anyone else commenting on their BS

Swift Boat Vet's picture

Give 'Em Hell Andy

And keep up the good work.   That means you too Turdski !

Swifty

Spartacus Rex's picture

The Fed Can Only Fail: And We’ll All Lose by Chris Martenson

by Chris Martenson
20131025Fail.jpg
The basic predicament we are in is that the current crop of leaders in the halls of monetary and political power does not appear to understand the dimensions of our situation.

The mind-boggling part about all this is that it’s not really all that hard to grasp.

Our collective predicament is simply this: Nothing can grow forever.

Sooner or later, everything must cease growing, or it will exhaust its environs and thereby destroy itself. The Fed is busy doing everything in its considerable power to get credit (that is, debt) growing again so that we can get back to what it considers to be “normal.”

But the problem is – or the predicament, I should more accurately say – is that the recent past was not normal. You’ve probably all seen this next chart. It shows total debt in the U.S. as a percent of GDP:

20131025Martenson1.jpg

Somewhere right around 1980, things really changed, and debt began climbing far faster than GDP. And that, right there, is the long and the short of why any attempt to continue the behavior that got us to this point is certain to fail.

It is simply not possible to grow your debts faster than your income forever. However, that’s been the practice since 1980, and every current politician and Federal Reserve official developed their opinions about ‘how the world works’ during the 33-year period between 1980 and 2013.

Put bluntly, they want to get us back on that same track, and as soon as possible. The reason? Because every major power center, be that in D.C. or on Wall Street, tuned their thinking, systems, and sense of entitlement during that period. And, frankly, a huge number of financial firms and political careers will melt away if/when that credit expansion finally stops.

And stop it will; that’s just a mathematical certainty. It’s now extremely doubtful that the Fed or D.C. will willingly cease the current Herculean efforts towards reviving this flawed practice of borrowing too much, too fast. So we have to expect that it will be some form of financial accident that finally breaks the stranglehold of failed thinking that infects current leadership.

The Math

As a thought experiment, let’s explore the math a little bit to see where it leads us. After all, I did just say that a poor end to all of this is a “mathematical certainty,” so let’s test that theory a bit. I think you’ll find this both interesting and useful.

To begin, Total Credit Market Debt (TCMD) is a measure of all the various forms of debt in the U.S. That includes corporate, state, federal, and household borrowing. So student loans are in there, as are auto loans, mortgages, and municipal and federal debt. It’s pretty much everything debt-related.

What it does not include, though, are any unfunded obligations, entitlements, or other types of liabilities. So the Social Security shortfalls are not in there, nor are the underfunded pensions at the state or corporate levels. TCMD is just debt, plain and simple.

As you can see in this next chart, since 1970, TCMD has been growing exponentially and almost perfectly, too. (The R2 is over 0.99, for you science types):

20131025Martenson2.jpg

I’ve pointed out the tiny little wiggle that happened in 2008-2009, which apparently nearly brought down the entire global financial system. That little deviation was practically too much all on its own.

Now debts are climbing again at a quite nice pace. That’s mainly due to the Fed monetizing U.S. federal debt just to keep things patched together.

As an aside, based on this chart, we’d expect the Fed to not end their QE efforts until and unless households and corporations once more engage in robust borrowing. The system apparently ‘needs’ this chart to keep growing exponentially, or it risks collapse.

Okay, one could ask: Why can’t credit just keep growing?

Here’s where things get a little wonky. But if you’ll bear with me, you’ll see why I’m nearly 100% certain that the future will not resemble the past.

Let’s start in 1980, when credit growth really took off. This period also happens to be the happy time that the Fed is trying to (desperately) recreate.

Between 1980 and 2013, total credit grew by an astonishing 8% per year, compounded. I say ‘astonishing’ because anything growing by 8% per year will fully double every 9 years.

So let’s run the math experiment as ask what will happen if the Fed is successful and total credit grows for the next 30 years at exactly the same rate it did over the prior 30. That’s all. Nothing fancy, simply the same rate of growth that everybody got accustomed to while they were figuring out ‘how the world works.’

What happens to the current $57 trillion in TCMD as it advances by 8% per year for 30 years? It mushrooms into a silly number: $573 trillion. That is, an 8% growth paradigm gives us a tenfold increase in total credit in just thirty years:

20131025Martenson3.jpg

For perspective, the GDP of the entire globe was just $85 trillion in 2012. Even if we advance global GDP by some hefty number, like 4% per year for the next 30 years, under an 8% growth regime, U.S. credit would be twice as large as global GDP in 2043 (!)

If that comparison didn’t do it for you, then just ask yourself: Why, exactly, would U.S. corporations, households, and government borrow more than $500 trillion over the next 30 years? The total mortgage market is currently $10 trillion, so might the plan include developing an additional 50 more U.S. residential real estate markets?

More seriously, can you think of anything that could support borrowing that much money? I can’t.

So perhaps the situation moderates a bit, and instead of growing at 8%, credit market debt grows at just half that rate. So what happens if credit just grows by 4% per year?

That gets us to $185 trillion, or another $128 trillion higher than today – a more than 3x increase:

20131025Martenson4.jpg

Again, What might we borrow (only) $128 trillion for, over the next 30 years?

When I run these numbers, I am entirely confident that the rate of growth in debt between 1980 and 2013 will not be recreated between 2013 and 2043. With just one caveat: I’ve been assuming that dollars remain valuable. If dollars were to lose 90% or more of their value (say, perhaps due to our central bank creating too many of them?), then it’s entirely possible to achieve any sorts of fantastical numbers one wishes to see.

Think it could never happen?

20131025Zimbabwe-100-trillion-note.jpg

Conclusion (to Part I)

This is the critical takeaway from all of the math above: For the Fed to achieve anything even close to the historical rate of credit growth, the dollar will have to lose a lot of value. I truly believe this is the Fed’s grand plan, if we may call it that, and it has nothing to do with what’s best for the people of this land. Instead, it’s entirely about keeping the financial system primed with sufficient new credit to prevent it from imploding.

That is, the Fed is beholden to a broken system; not anything noble.

In Part II: The Near Future May See One of the Biggest Wealth Transfers in Human History, we dive fully into the logic why GDP growth is very unlikely to support the rate of credit expansion that the Federal Reserve wants (or, more accurately, needs). And what will happen if it indeed doesn’t? A lot of painful, awful things – but central among them is a currency crisis.

Amidst the ensuing unpleasantness will be an awakening within today’s hyper-financialized markets to the huge imbalance now existing between paper claims and ownership of real things. A massive wealth transfer from those with ‘paper wealth’ (stocks, bonds, dollars) to those owning tangible assets (the productive value of which can’t easily be inflated away) will occur – and quickly, too.

Suggesting the key objective for today’s investor is answering: How do I make sure I’m on the right side of that wealth transfer?

Reposted with the permission of Chris Martenson and PeakProsperity.com.

http://www.usagold.com/cpmforum/2013/10/25/the-fed-can-only-fail-and-well-all-lose/

SRSrocco's picture

I SHOULD HAVE SPOKEN AT THE SILVER SUMMIT

I actually had a 30 minute speaking engagement at the SILVER SUMMIT this week (thanks to the help of David Morgan), but I canceled last month due to other commitments.  Now, I can kick myself in the azz for not going and presenting after what Christian stated during his talk.

I sent an email to one of Jeff Christian's analysts at the CPM GROUP over a week ago, but did not get a reply.  I sent an email to Erica Rannestad (long term supply-demand analyst) about the peaking energy supply on the long term silver outlook.  As I mentioned, I still have not received a reply.

I discussed this topic in my recent article:

Silver To Hit New Highs Despite Bearish Forecasts

Actually, I believe manipulation does not have to be proven (even though I believe it's taking place) because of the peaking of global oil production in the next several years.

It is ironic that Christian focuses on the MESSENGER rather than the MESSAGE.

Anyhow, the typical supply and demand forecasts will become increasing worthless in a peak oil environment.  Basically, the work that the analysts at the CPM Group are doing won't be worth much going forward.

Furthermore, I just put out a new article today on the coming collapse of the Global Conventional Assets:

The Coming Collapse of U.S. & World Conventional Paper Assets

The world invested $242 billion in gold and silver in 2012, but global conventional assets grew $7.5 trillion to $87.2 trillion.  Thus gold and silver investment was 3.2% of the growth of conventional assets in 2012.

The world is invested in the BIGGEST PONZI SCHEME in history... and its about to hit the GREAT ENERGY WALL.

steve

Daedalus Mugged's picture

Seems Like...

Seems like the simplest solution is for Andrew McGuire to put his own CV/resume in the public domain.  He's clearly been a professional metals trader at least as long as he's been at Coughlin Capital.  And whatever he did before was that was enough to get him that gig...I know no one is letting me trade their book.  If Bill Murphy was mistaken in his intro, so be it, that is not on Andrew.  He is who he is, his claims should be measured against his expertise and experience. 

And if Goldman Sachs does appear in his history, I would think less of him.  I don't trust men without souls or morals...and the devil doesn't let you buy your soul back.     

Blythesshrink's picture

Well said Turd - make sure

Well said Turd - make sure Andy knows he has a lot of support from many Turdites.

Spartacus Rex's picture

Steve Liesman: Rand Paul To Hold Up Yellen's Nomination

Howard Roark's picture

Not in

Defense of anyone, but when all fails we know the tactics: smear campaign and ad hominem arguments.

Nothing to see here. I feel sorry that the substance of what AMaguire says don´t get the same attention from the people in charge. Or from the abettor media, as sr. TF calls them. Real sorry.

Nothing to see here. Let´s keep our heads high and be strong. The times are changin´.

All the best,

HR

(edit) - SRSrocco it´s bad that you´ve missed that chance to speak at the silver summit; but don´t feel bad: keep up the good work, the analysis and arguments around EROI. All the best for you too and I hope you get another chance at a forum like that to foster your ideas.

Shrike22's picture

Critical thinking

Distance yourself from Maguire until evidence to the contrary emerges.

Considering him your friend is irrelevant.

Deal with the facts... research them... refute them... challenge Andy for evidence if he is to be trusted. Get him on your website or get rid of the advert on the right.

This is what we pay for. It's important because it is about credibility.

When Andy announced he was going to come out with something big when the CFTC investigation shut (and didn't), you should be challenging him and reporting back. If you don't, then it draws your credibility into question.

Andy has had years to correct GATA if the claims about where he worked were false. He's been on your show, KWN, Max Keiser - at no point does he dispute those claims.... so wtf!? That's as bad as lying directly.

CREDIBILITY... CRITICAL THINKING... PLEASE...

Dagney Taggart's picture

I wasn't present....

when Jeff Christian deliver his last-minute hit on Andrew yesterday. I regret it now but it was too nice out and when was the last time Jeff said anything that mattered? Talk about a cheap coward. I guess he was afraid if he mentioned it beforehand, half the room would have walked out. Not to mention that if he felt completely sure about his accusation, he would have been up front and center. Considering his perspective, he's literally akin to a salesman saying what he's selling is junk so don't buy it.

Anyway, I was hoping to see Andrew here today after a redeye flight to personally address these accusations, WITH HIS LAWYER present ready to serve Jeff.

Regarding buying again today, I'll think I'll wait until the end of next week to see if we see any games. If silver rockets, at least I bought some yesterday and a few weeks before. If not, who doesn't like sales?

Good weekend all. I'm curious to see how this situation plays out. Someone is about to get professionally suicided. Place your bets.

PS. Sorry Steve that you couldn't make it. I've enjoyed your writing and perspective for a while and feel that it's fundamental to the big picture.

PPS. AND JUST SO EVERYBODY IS AWARE: I had a good conversation yesterday afternoon with a gentlemen here. His perspective was that the war between fiat counterfeit currency and honest money is the war that will end all war. All of it. With that in mind, please take time to understand and expect everything that this means and what's at stake for both sides.

HappyNow's picture

I was hoping to at least see

I was hoping to at least see Andy's employment history as regards metals trading.    That would set all records straight.

Stating that "never said worked for Goldman-Sachs"  is a political answer.

Turd Ferguson's picture

And I'm sure it's just coincidence

MODERATOR

Also on the CPM site is this subscriber link to a piece that looks like it goes after Bill Murphy. Dated yesterday, too:

http://www.cpmgroup.com/user/login?destination=our-market-views/general-articles-commentaries/all/past-gata-chairman-bill-murphy-relevant

silverwhere's picture

Black Kettle - meet Pot

First a quote:

What is the greatest lesson you learned at the Missouri School of Journalism?

“There is always more to a story than you have learned”.

Jeffrey M. Christian

……….

And now Black Kettle - meet Pot:

Christian created CPM Group in June 1986, when he and his associates within the commodities research group in the Goldman Sachs Investment Research Department left as a unit to create CPM Group as an independent research company.

Education

Christian earned a bachelor's degree in Journalism from the Missouri School of Journalism in 1977.

http://www.marketswiki.com/mwiki/Jeffrey_M._Christian

..........

MUST-READ  –  from Missouri School of Journalism, Alumni, Jeffrey M. Christian

http://journalism.missouri.edu/alum/jeffrey-m-christian/

..........

Jeffrey M. Christian

He has engaged in post-graduate non-degree studies in Econometrics, International Economics and Finance, and International Political Science and has done a Bachelors of Journalism from University of Missouri.

Click Read Full Background here:

http://investing.businessweek.com/research/stocks/private/person.asp?personId=8079063

http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=9806875

……….

Turd Ferguson's picture

As I stated in the post

MODERATOR

I haven't spoken with him regarding all of this and the only email I've gotten was the one I posted yesterday.

If he wants to put out an "employment history", that's up to him. 

Turd Ferguson's picture

Steven

MODERATOR

Unless that's actually him, I don't think we want to go there.

DollarMenu2's picture

FWIW....

I pay no attention to anything from KITCO or anything related to them.

They are neck deep into paper gold schemes for their clients, and

are totally faux IMO.  I've believed this for a decade and they have never done

anything to change my thinking.  For metals dealers, they are strangely arms length

in their approach to them: the metals are always set for a decline, always ahead of themselves,

never any thing other than a pump for their in house paper metals exchanges.

So Jon Nadler has a new face with this Christian guy.  Big Deal.

I don't care if  Maguire has a few splotches on his life, I do too.

The thing is, take the info that you need, and over time the sources and the info will prove themselves or not.

If an illiterate felon tells your child that 2 + 2 = 4, will you teach your child otherwise?

Of course not.

The truth will out, regardless of the messenger.

meluaufeet's picture

RE: Missouri School of Journalism

"What is the greatest lesson you learned at the Missouri School of Journalism?
There is always more to a story than you have learned."

http://journalism.missouri.edu/alum/jeffrey-m-christian/

Ironic

SRSrocco's picture

I AGREE WITH TURD

I decided to stop the name calling as it does nothing to progress the REAL FACTS and TRUTHS going forward.  I learned this from watching Art Berman's 1 hour presentation on why U.S. SHALE GAS INDUSTRY HAS BEEN A COMMERCIAL FAILURE.

Let me say, I have watched this one hour presentation 4 times now and have learned something new each time.  The world has no idea of how bad things are going as the world peaks in oil and gas production.

Art Berman provides excellent data on why the shale gas industry will be a huge disaster in the future.  Berman has been ridiculed by many in the industry, but he decides to take the HIGH ROAD and talk about those he disagrees with in a positive fashion.

It took a while for me to figure this out, but the NAME CALLING IS GONE from my mouth.  Furthermore, if we want to try and convince those who believe in the opinions of Jeff Christian & CPM Group, it only makes the analysis look unprofessional when they resort to negative adjectives in name calling rather than focusing on the DATA & FACTS.

steve

pourty's picture

Hate to jump on this one... but...

The information that Mr. Maguire was a JPM trader has been out there for quite some time, as have accusations by Mr. Christian that Mr. Maguire is no such thing and as such should have his credibility questioned.

While I have not seen any mention from Mr. Maguire that he ever traded for JPM, neither have I seen him speak out to clear this up... which does seem a bit odd, considering that, on the one hand, having worked for JPM might have given him insider knowledge which lends credibility to his comments, but on the other, having worked for JPM might also be considered (at least in the circles here) rather dark and sordid.

I have appreciated the information from Mr. Maguire in the past, and I'd like to think it's trustworthy, but frankly, I question pretty much everything these days.  Would be nice to see him come out and give some verifiable bits of fact about his actual credentials.  If he was not a JPM trader and simply a car salesman who did very well day-trading and learned some insider knowledge or learned to see the trends in the charts, that's fine, I don't think that necessarily takes away from anything he's said or done.  Bringing it out into the open, one way or another, will put the issue to rest and take away the red herring from folks like Mr. Christian who simply want to direct the conversation to attack someone's character rather than the facts of the Gold story.

I do believe having Mr. Maguire speak out in this respect may get things back on topic... (albeit with a few days for ooh's and ahh's as people debate whether he's still credible after the fact).

The truth of the matter is, I've met folks in rather low positions who have a good handle on truth, and I've also met folks in rather high positions who simply have an axe to grind and don't care who the grinding stone turns out to be.  Being a former car salesman does not make one an illegitimate speaker.  But refusing to acknowledge the truth of your past is what would make me suspicious.

Just my 2 cents.

Markedtofuture's picture

The Christian/Maguire flap

Bill Murphy's Lemetropole cafe chimes in on the Flap.

Been running around the Silver Summit conference giving my presentation (which followed Pan American Silver early this morning), giving interviews, and conversing with attendees and friends. The participation by numerous silver companies was very good. But the attendance was very poor. The investing public remains absent from our markets.

The Christian/Maguire flap was the talk of the conference, as you might expect. Before I came here, it was my intention to avoid Christian and not even mention him. He has made that impossible and based on feedback, feel compelled to lay a few things out.

*First of all, he was an early speaker at the conference yesterday. This email from a fellow Café member says it all…

Jeff Christian = Criminal

Bill,
I went to this lunatic's talk this a.m. and he is a real piece of work. He did a real smear job on you, GATA, Ted Butler and especially Andrew Maguire whom he tore apart as a liar, incompetent, philanderer and on and on. The main thrust of his attack was how righteous he was and how evil you all were.

I consider what he said and wrote on slides both slander and libel. You three ought to sue his ass off. There would be plenty of witnesses!

See you later today.

Get this: he started out his diatribe by proclaiming, "I am not a bank shill." Reminded me of Nixon when he said "I am not a crook" or Clinton's famous, "I did not have sexual relations with that woman, Ms. Lewinsky."

Man, that jerk needs professional psychiatric help incarcerated in some institution for the criminally insane.
F......

By now you know what Kitco reported and part of my response, which only covered a couple of things I mentioned in my interview. So here is my view on "the flap" …

*GATA board member Adrian Douglas communicated with Andrew Maguire before the March 25, 2010 CFTC hearing. Maguire had been communicating with Bart Chilton of the CFTC for months and sent him emails explaining what JP Morgan was going to do with other traders in advance of them doing so. They can be read here:

March 25 - MIDAS SPECIAL On GATA’s CFTC Appearance ... Would The Police Stop A Rapist If They Knew Who It Was?

http://www.lemetropolecafe.com/pfv.cfm?pfvID=8439

***

When Maguire was not allowed to present the email interaction in front of the CFTC special hearing, he got the information to Adrian who gave it to me. Bart Chilton gave me the opening to bring these revelations to light after my five minute presentation. If Bart did not believe all this was very valid, he would not have done so. At the time, with one night to prepare, I did not feel any need to ask for Andrew's bio. It wouldn’t have mattered at that time if the janitor sent this explosive material to the CFTC. Facts are facts and Bart, who was dealing with these facts in REAL-TIME over the prior months, knew they were valid.

You may have noted that Christian did not say these facts were bogus, just that Andrew’s background was phony. Andrew has to speak for himself. All I can tell you is that he is a class act and received the longest standing ovation I have ever seen at the GATA London conference in August of 2011. Andrew ought to be going on the record very soon, and will be responding to Christian.

IMO, Christian is demented. F...... is correct. I was having a fun conversation with some friends … GATA conference organizer Janet Lee, husband Bill, and Steve Merrill of The Sovereign Exchange when Christian suddenly interjected himself in the middle of us all and got in my face … and I mean in my face, ranting about Andrew. I swear the guy was foaming at the mouth and had a glazed look in his eyes. It was the first time in a very, very long time I almost took a swing at a guy. My swearing at him was not so restrained. So much for me being able to mind my own business.

ForWhomTheTollBuilds's picture

Wow, isn't it interesting

That after studiously ignoring Mr Maquire (and others of the whistleblower persuasion) for years that a report about what a fraud he is is picked up instantly by mainstream sources and run with.  

I suppose its possible the explanation is that stories about high-flyers being knocked to the ground with the rest of us where they belong are more likely to be read, but the conspiracy bug in my head is screaming pretty loudly that this has to be coordinated.   How many Forbes readers who have never heard of Maquire are now finding out "what an awful dishonest man he is"?

I hope Mr Maquire doesn't release *shit* about his background or life personally.  Anything he releases will be turned against him or otherwise used to harm him.  I want to watch the mainstream press flail wildly with crazy theories overheard from the friends of his ex-wife.  Let them build that into an expose to undermine "those crazy gold bugs with their overactive imaginations".  

mj12's picture

Andy and Paul

I grew "da kine" on the Kalalau trail in the 70's.

Sold high end real estate on Maui to Japan in the 80's

And started trading gold futures in the 90's.

Several hundred thousands of dollars of losses later.....in the mid 00's I had the great fortune of trading with Andy and Paul.

The only talent I possess........... is the ability to know talent. Andy is the "kahuna nui" of silver trading. I've been trading gold/silver futures for 18 years with the same broker (Bill B. at Dorman Trading)........even if Andy only has a 3rd grade diploma.......he's still the best silver trader on the planet earth!

And Jeffrey Christian.......a dumb fuckin' haole.......who never made a good trade during the entire bull run of gold and silver. 

I try to live by the code.......if you can't say something positive, don't say anything at all.........but Jeffrey has it coming......an arrogant little prick who needs his ass kicked! 

LMR's picture

Bill Murphy's comments from tonights commentary (with permission

Been running around the Silver Summit conference giving my presentation (which followed Pan American Silver early this morning), giving interviews, and conversing with attendees and friends. The participation by numerous silver companies was very good. But the attendance was very poor. The investing public remains absent from our markets.

The Christian/Maguire flap was the talk of the conference, as you might expect. Before I came here, it was my intention to avoid Christian and not even mention him. He has made that impossible and based on feedback, feel compelled to lay a few things out.

*First of all, he was an early speaker at the conference yesterday. 

By now you know what Kitco reported and part of my response, which only covered a couple of things I mentioned in my interview. So here is my view on "the flap" …

*GATA board member Adrian Douglas communicated with Andrew Maguire before the March 25, 2010 CFTC hearing. Maguire had been communicating with Bart Chilton of the CFTC for months and sent him emails explaining what JP Morgan was going to do with other traders in advance of them doing so. They can be read here:

March 25 - MIDAS SPECIAL On GATA’s CFTC Appearance ... Would The Police Stop A Rapist If They Knew Who It Was?

http://www.lemetropolecafe.com/pfv.cfm?pfvID=8439***

When Maguire was not allowed to present the email interaction in front of the CFTC special hearing, he got the information to Adrian who gave it to me. Bart Chilton gave me the opening to bring these revelations to light after my five minute presentation. If Bart did not believe all this was very valid, he would not have done so. At the time, with one night to prepare, I did not feel any need to ask for Andrew's bio. It wouldn’t have mattered at that time if the janitor sent this explosive material to the CFTC. Facts are facts and Bart, who was dealing with these facts in REAL-TIME over the prior months, knew they were valid.

You may have noted that Christian did not say these facts were bogus, just that Andrew’s background was phony. Andrew has to speak for himself. All I can tell you is that he is a class act and received the longest standing ovation I have ever seen at the GATA London conference in August of 2011. Andrew ought to be going on the record very soon, and will be responding to Christian.

IMO, Christian is demented. Fenwick is correct. I was having a fun conversation with some friends … GATA conference organizer Janet Lee, husband Bill, and Steve Merrill of The Sovereign Exchange when Christian suddenly interjected himself in the middle of us all and got in my face … and I mean in my face, ranting about Andrew. I swear the guy was foaming at the mouth and had a glazed look in his eyes. It was the first time in a very, very long time I almost took a swing at a guy. My swearing at him was not so restrained. So much for me being able to mind my own business

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