Big Changes Coming to the Global Gold Market - A Conversation with Andrew Maguire

157

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: https://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:

https://forexmagnates.com/bullion-capital-track-revamp-physical-gold-mar...

You can find additional information by visiting the actual website of Bullion Capital:

https://www.bullioncapital.com

And here's just one page from the Bullion Capital site. It's pretty cool:

https://www.bullioncapital.com/markets/live-pricing

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.

TF

  157 Comments

  Refresh
mmeyer2
Feb 28, 2015 - 6:27pm

Safety Dan

Although you don't get to many props, keep up the good work, I'm with you all the way!

braincrampsG-Rod
Feb 28, 2015 - 5:21pm

Monetary System

You make a great point and it's why I bought into bitcoin and continue to invest in that system. Thanks for your reply.

chuck

SteveWSilveryBlue
Feb 28, 2015 - 5:20pm

@ SilveryBlue: Snowden

"Like that is on the cards after demonizing Putin & stirring up the Ukraine. What world does this chick live on?"

https://www.veteranstoday.com/2015/02/27/evil-with-a-nice-face-part-ii/

The link relates to a meeting on July 12, 2013, before the Ukraine crisis, so the whole thing is in a time warp.

Feb 28, 2015 - 11:22am

Stacking woes ;-)

Well, I counted my stack last night after spending the day pulling buckets and tubs out of secret place (both of 'em) and then driving to an undisclosed location (mother-in-law's). We are using it to purchase a property I mentioned a few days ago. But we are fortunate to have a relative who is willing to loan us closing funds and merely "hold" a portion of our stack as collateral. Though I would love to be bank free and just complete the deal, this news from Maguire suggests I should keep ownership of it a bit longer. Our plot will be completed when we obtain a line of credit secured by our current home (in the city) to pay for the bug-out property and keep the stack intact and the new property lien free.

But now I regret scooping up every damn dime and quarter I found at all those antique stores in 2010-2012 before I started buying larger bars. Only a few are of numismatic value. They are in a variety of sealed containers, cardboard holders, plastic holders, tubes, bags, or just floating around loose. What a mess--albeit a beautiful one. Calculating the actual exchange value gets a complicated as well, requiring a spreadsheet. It was so much easier to count and calculate the values of 100 oz, 10 oz, 5 oz, and one ounce bars and rounds. I know that the old US coins will be ideal in a broken economy, but they sure are a pain in the arse to work with for large exchanges like a house or land.

But the bright side was that its all made of 90% silver, its heavy, and I had 200 more ounces than I thought I did.

Andrew's interviews provides a spark of hope that this farce of a market will end soon. But that would also mean the end of cheap metals. Now is the time to buy--then will be the time to exchange, pay off debt, buy land & homes. I only bought this property because of the price (25% of market value).

Now may be the time to buy pb & delivery systems as well. The green-tipped two-twenty-three story is on the Fox news front page today. And given the government's fine history of actualizing the slippery-slope fallacy, we may be seeing the final opportunities to obtain homestead protection means as well.

Hmmm... internet regulation and ammunition regulation in the same week! Lois Lerner's emails recovered and in the headlines. Putin's chief rival assassinated photo-op style in front of the Kremlin. Surely a coincidence.

I look forward to the days of being more concerned about making a living, the weather and my garden than wondering when the economy is going to collapse. But those days will only come after the big reset, probably a war, and much hardship.

Safety Dan
Feb 28, 2015 - 9:55am

NPR keeps lying to you about

NPR keeps lying to you about vaccines: here's the truth

National Public Radio (NPR) is where many liberals go to get what they consider the real news, especially with the program All Things Considered. Despite its warm and fuzzy veneer that supports classical music and some jazz as well as many of the issues that are near...

What NPR failed to examine or mention even one tiny bit

Let's start with the safety issue and the CDC's own Vaccine Adverse Event Reporting System, focusing on Merck's HPV vaccine Gardasil and GlaxoSmithKline's more recently introduce HPV vaccine Cervarix.

From the National Vaccine Information Center:

"As of Dec. 13, 2013, there were a total of 29,918 vaccine reaction reports made to the federal Vaccine Adverse Events Reporting System (VAERS) associated with Gardasil vaccinations, including 140 deaths.

"There were a total of 2,652 vaccine adverse reaction reports made to VAERS associated with Cervarix vaccinations, including 13 deaths. (Merck's Gardasil vaccine, which was the first HPV vaccine licensed in the U.S., has the majority of the HPV vaccine market in the U.S.)."

So by the end of 2013, there were 153 deaths reported to VAERS among the other 32,570 total reported adverse events which include: Guillain-Barre syndrome (GBS); facial paralysis; brain inflammation; rheumatoid arthritis; lupus; blood clots; optic neuritis; multiple sclerosis; strokes; heart and other serious health problems such as chronic fatigue, seizures and neurological disorders, most of which occurred within 24 hours after one or all of the three shots required.

What's amazing is that few know about VAERS. Some simply report their tragedies directly to blogs frequented by concerned mothers such as TruthAboutGardasil.org or others.


Learn more: https://www.naturalnews.com/048776_HPV_vaccine_propaganda_NPR.html#ixzz3T3GhEEcx

Safety Dan
Feb 28, 2015 - 9:41am

Masters in Business podcast

Masters in Business podcast is with Joe Saluzzi of Themis Trading. (Full series is here).

S&P 500 Returns During the QE Era

Source: Bianco Research

Safety Dan
Feb 28, 2015 - 9:40am

The CIA’s secret

The CIA’s secret psychological profiles of dictators and world leaders are amazing (MoJo)

The CIA's Secret Psychological Profiles of Dictators and World Leaders Are Amazing

Psychoanalyzing strongmen, from Castro to Saddam.

—By Dave Gilson

|What were they thinking?

Last week, Politico and USA Today reported about a secret 2008 Pentagon study which concluded that Russian President Vladimir Putin's defining characteristic is…autism. The Office of Net Assessment's Body Leads project asserted that scrutinizing hours of Putin footage revealed "that the Russian President carries a neurological abnormality…identified by leading neuroscientists as Asperger's Syndrome, an autistic disorder which affects all of his decisions."

Putin's spokesman dismissed the claim as "stupidity not worthy of comment." But it was far from the first time the intelligence community has tried to diagnose foreign leaders from afar on behalf of American politicians and diplomats. The CIA has a long history of crafting psychological and political profiles of international figures, with varying degrees of depth and accuracy. A sampling of these attempts to get inside the heads of heads of state:

Safety Dan
Feb 28, 2015 - 9:36am

The Entire Case for Sanctions

The Entire Case for Sanctions Against Russia Is Pure Lies

Posted on February 27, 2015 by Eric Zuesse.

Eric Zuesse

U.S. President Barack Obama has stated many times his case against Russia — the reason for the economic sanctions. In his National Security Strategy 2015, he uses the term “aggression” 18 times, and 17 of them are referring specifically to only one country as “aggressive”: Russia. However, not once does he say there what the “aggression” consisted of: what its target was, or what it itself was. He’s vague there on everything except his own target: Russia.

For those things (what Russia’s “aggression” consists of), Obama’s only statement that has been even as lengthy as moderately brief — since he has never presented it at any more length — was his interview with Fareed Zacaria of CNN on 1 February 2015, which happened to be a statement given only three days short of the first anniversary of his agent’s, Victoria Nuland’s, having selected, on 4 February 2014, whom the next leader of Ukraine would be, Arseniy Yatsenyuk (she called him “Yats”) after the democratically elected and sitting Ukrainian President, Viktor Yanukovych, would become overthrown, which happened 18 days later, on 22 February 2014. (It was nothing like Czechoslovakia’s “Velvet Revolution”. This wasn’t democratic; it was a coup.)

Obama said there, in this CNN interview, that the reason for the sanctions against Russia was that,

“since Mr. Putin made this decision around Crimea and Ukraine not because of some grand strategy, but essentially because he was caught off-balance by the protests in the Maidan and Yanukovych then fleeing after we had brokered a deal to transition power in Ukraine since that time, this improvisation that he’s been doing has getting has gotten him deeper and deeper into a situation that is a violation of international law, that violates the integrity, territorial integrity and sovereignty of Ukraine, has isolated Russia diplomatically, has made Europe wary of doing business with Russia, has allowed the imposition of sanctions that are crippling Russia’s economy at a time when their oil revenues are dropping. There’s no formula in which this ends up being good for Russia. The annexation of Crimea is a cost, not a benefit, to Russia. The days in which conquest of land somehow was a formula for great nation status is over.”

That’s all; he didn’t mention the subsequent shooting-down of the Malaysian airliner over the conflict-zone in Ukraine on 17 July 2014, which was the incident that he used, after the first set of sanctions, in order to get the European Union to increase the sanctions against Russia (and that incident will be discussed at the end of this article because he simply didn’t mention it in this, his lengthiest statement on the cause of the sanctions). His entire reason there — and no reason at all was given in his National Security Strategy 2015 for calling Russia “aggressive” — was “the annexation of Crimea.”

What, then, are the facts on that matter, of Crimea?

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

Safety Dan
Feb 28, 2015 - 9:29am

China plans yuan-denominated

China plans yuan-denominated gold fix this year -sources

BY A. ANANTHALAKSHMI

Feb 27 (Reuters) - China plans to launch a yuan-denominated gold fix this year to be set through trading on an exchange, sources familiar with the matter said, as the world's second-biggest bullion consumer seeks to gain more say over the pricing of the precious metal.

The Chinese benchmark would be derived from a new 1 kg contract to be launched on the state-run Shanghai Gold Exchange, a senior source directly involved in the process told Reuters.

China, also the top producer of gold, feels its market weight should entitle it to be a price-setter for bullion and it is asserting itself at a time when the established benchmark, the century-old London fix, is under scrutiny because of alleged price-manipulation.

If the Chinese fix takes off, it could add to the pressure on the London benchmark, which is used worldwide by producers, refiners and central banks to price holdings and contracts, although the two could exist side-by-side.

"We need a renminbi benchmark for Chinese producers and foreign suppliers to the market," said the source, using an alternative name for the yuan. "This renminbi gold benchmark can be complementary to the U.S. dollar gold-fixing in London."

The contract for the Chinese fix would be traded for a few minutes each day to make the process transparent - addressing one of the big complaints about the London fix - and the exchange would settle all trades, the source said.

One barrier to wider international acceptance is that the yuan is not fully convertible.

A second source with a global bullion bank said trading and settlement could be done in offshore yuan to allow foreign banks and other suppliers to participate, although only domestic players are expected to participate initially.

China has already made some efforts to liberalise the yuan and encourage foreign participation in its domestic markets, especially in bullion.

The Shanghai Gold Exchange, which has been at the forefront of China's pricing efforts, opened an international bourse in September 2014 in the city's pilot free-trade zone, allowing foreigners to trade yuan-denominated contracts for the first time.

It has also opened up silver contracts for foreign players and launched gold options on a trial basis.

https://www.reuters.com/article/2015/02/27/gold-china-fix-idUSL4N0W04Z22...

Barfly
Feb 28, 2015 - 9:28am

vonburpenstein hahahahaha

Man, you don't have the right parents to become a primary dealer. Props for thinking big, but sometimes, man, you've just got to get it where you fit in.

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Recent Comments

by Ned Braden, 3 min 11 sec ago
by b72s, 6 min 15 sec ago
by Turd Ferguson, 19 min 40 sec ago
by allenb, 20 min 4 sec ago
by murphy, 26 min 2 sec ago
by Gasivs Buttox, 30 min 36 sec ago

Forum Discussion

by Mr Michael Khan, 2 hours 54 min ago
by TexasTonto, Jul 9, 2020 - 9:53pm
by SteveW, Jul 9, 2020 - 6:23pm
by SteveW, Jul 9, 2020 - 6:20pm
by Ken, Jul 9, 2020 - 1:36pm
randomness