Big Changes Coming to the Global Gold Market - A Conversation with Andrew Maguire
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Earlier today, I had the opportunity to visit with our friend, Andrew Maguire. Some exciting, new developments are pending in the global gold market and Andy stopped by to give all of us in Turdville a sneak preview.
The goal of this discussion was to familiarize everyone with some of the operations of the London-based, fractional reserve bullion banking system. As background, Andy references a document written by Jeffrey "Sister" Christian nearly 15 years ago. Here's a link to the pdf: http://www.gata.org/files/CPMGroup-BullionBankingExplained.pdf
Andy goes on to inform us of a new project that he has been fortunate to be a part of...a new, 100% physical and fully-allocated precious metals exchange. You can learn more about this exchange in this article:
You can find additional information by visiting the actual website of Bullion Capital:
And here's just one page from the Bullion Capital site. It's pretty cool:
In the end, the hope is that all of these new exchanges (including SGE, HKmex, SGPMX) ultimately serve to draw away interest and liquidity from the den of vipers known as the LBMA and the Comex. As the devious influence of the bullion banks is finally removed, the metals will begin to trade solely within a 100% fully-allocated system, instead. Only then will true, free and fair price discovery finally be realized.
I'm confident that you'll find this conversation to be quite interesting and helpful and I look forward to reading your comments.
Andrew Maguire is something of a legend within the precious metals community. Though he is an accomplished metals trader with over thirty years of experience, he first gained notoriety in 2010 after writing a series of emails to the CFTC (http://www.gata.org/node/8466) in which he analyzed and predicted Bullion Bank trading/manipulation practices. These emails were made public by Bill Murphy of GATA during an appearance at a CFTC hearing in March of 2010.
In the time since, Andy has become a tireless advocate in the fight against fractional reserve bullion banking and the Bullion Bank Cartel. More information about Andy and the services his company provides can be found at: http://andrewmaguiregoldtrading.com
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