Wednesday, September 7, 2011

Andrew Maguire - LBMA Shorts Will be Forced to Take Losses

With gold trading near the $1,900 level and silver above $42, today King World News interviewed London Whistleblower Andrew Maguire.  When asked about key developments in China regarding the Pan Asia Exchange Maguire stated, “Silver and this 11 kilo gold contract, international rolling spot contract, are the game-changers.  This is not going to be welcomed by the naked short LBMA bullion banks.  These are competing contracts, but the difference is they are 100% backed by physical metal.  That means that this metal will have to be purchased one to one as these contracts open, and not just listed as a paper entry (as the LBMA does in many cases).”

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