Today whistleblower and London metals trader Andrew Maguire warned King World News about a shocking even that will change the gold market forever.
Andrew Maguire: “Producers are beginning to seek alternative venues to sell their gold at the offer and bypass London (the LBMA) altogether. This is why we are seeing price divergences appear between the paper markets and the physical markets….
Producers are the key to breaking the hold the collusive bullion banks have on the gold price and it is now underway. This is history in the making. We see the CME trial ballooning a deliverable gold exchange and contract here in London. You have to ask yourself: Why would they do this if the largest global gold market (the LBMA) was functioning properly. It’s because liquidity has simply vanished.
I deal with liquidity providers and takers who are directly related to sovereign entities that on a weekly basis physically move large tonnages between global vaulting hubs. This proves that the German physical gold repatriations of just 300 tonnes should have taken only a few short weeks, not years. There is no doubt that anyone connected to the wholesale market understands this.
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