April 23, 2016
Today whistleblower and London metals trader Andrew Maguire told King World News that China and Russia are set to dominate as Western control of the gold market collapses.
But first, it is important to read this from Andrew Maguire’s March 4, 2016 KWN interview:
are anchored upon a fractional reserve unallocated bullion market structure,
which is the equivalent of a Ponzi scheme.”
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Andrew Maguire continues: “One only has to focus on the unprecedented liquidity drain out of paper-centric London with this liquidity flowing into physical markets in Asia and the Middle East. Liquidity is the life blood of the gold market and the LBMA is bleeding this liquidity from an open wound. Liquidity begets liquidity and it is flowing out of the paper markets into the physical exchanges. Investors and institutions have woken up to the fact that paper gold is a shell game and are streaming into allocated physical gold.
China & Russia To Dominate As West Loses Control Of Gold Market
So here in April 2016, with the physical markets now stealthily secured, increasingly liquid physical markets vs. paper markets and the new SGE (Shanghai Gold Exchange) fix in place, shortly to be complimented by a joint Russian/PBOC (People’s Bank of China) gold platform, the pieces of the jigsaw are coming together.
As noted late last year, China has been consolidating its position here in London, now being reclassified as a 13th LBMA market maker. This concession would not have happened if liquidity had not evaporated from Loco London and migrated to the physical Asian exchanges.
So Eric, fast forward nearly 2 months from when we spoke last and the paper market liquidity drain is now exponentially accelerating.