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The Pricing System Is Broken - A Thursday Conversation with Andrew Maguire

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As we watch today some of the worst and most blatant gold price manipulation in recent memory, what a great time to get some perspective from our old friend, Andrew Maguire.

So what the heck is happening today? Why is price being smashed on COMEX and what is being accomplished? Andy explains the significance of the month-end PM Fix for the Banks and the BIS.

But also, what the heck happened back on March 24? Why did the OTC/spot market break? What are the long-term consequences and, more importantly, what happens next? For that, be sure to listen to the final ten minutes of this discussion.

Many thanks to Andy for so freely giving of his time today. Please be sure to give this podcast a thorough listen. Knowing that the Digital Derivative and Fractional Reserve Pricing Scheme is on its last legs may give you some comfort after having to endure again today the same old overt price manipulation tactics.

TF

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AGAUdryam
May 1, 2020 - 5:56pm

@dryam

I think Andrew was expecting the markets to be closed for a holiday on the 4th Making a long weekend opening on the 5th

apparently the holiday is postponed until the 8th now

scoremorescoremore
May 1, 2020 - 4:19pm
scoremore
May 1, 2020 - 4:07pm
May 1, 2020 - 1:05pm

spreads evaporate again

No worries, I guess. We're all good. Crisis averted.

HistoryStudent
May 1, 2020 - 12:47pm

IT appears that the whole CME LMBA is unwinding

https://www.zerohedge.com/markets/after-gold-oil-contract-chaos-cme-grou...

There is still some POWERS pricing power (fading like the Lone Ranger "Hi Ho Silver" McGuire after their butts): but the paper gold looks to be about 600 (paper only) ounces claimed for each real ounce of physical covered by their foolish contracts.

Lot of gnashing of teeth, severe loss depression, and people going nuts above there is...

AGXIIKNUGTCALL
May 1, 2020 - 11:17am

CME $7 billion LOC. New American business opportunity

CME gets $7 billion secured line in case of COMEX member default. Secured by what? Article on ZH

While Americans make handbags out of useless bankers.

mrcicTheFool
May 1, 2020 - 11:03am

Remember

Jim Willie is on record as saying that the USD will devalue by 30% in the first go-round. Then another 30% later. Interesting that Andy said that they are aiming for $2200 increase in gold price.

Increase in gold price is a devalue of USD: there it is.

Everyone needs the gold price to go up because the gold trade is broken. Andy indicated as much in the prior webcast that Turd posted a few days ago.

Not sure the white hats have anything to say about that. It has to be done.

silverseekerTF
May 1, 2020 - 10:17am

Ronan Manly- Bullion Star article

Thanks for posting this nuggety;

Craig,

This Ronan Manly article goes into perfect detail regarding the persistent pricing issues between Comex futures and LBMA price fixing. Could you forward to Andy for any follow up comments, maybe make a sticky 'required reading'?

It seems critical that ICE is legally required to, but presently refuses to acknowledge their failure to properly factor market price conditions at the London Fix, in violation of benkmark regulation. CME opening a credit line to cover default exposure implies knowledge of a protection racket in the process of crumbling. What mechanism exists to hold ICE and LBMA to the law? Seems obvious, there is none...

https://www.bullionstar.com/blogs/ronan-manly/lbma-gold-price-benchmark-...

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OceanXTF Metals fan
May 1, 2020 - 10:05am

ratio: paper to physical

should be enough to know something is very 'broken'

dryam
May 1, 2020 - 9:28am

May 5

What was the significance of May 5 in the podcast interview? Thanks

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