Silver market manipulation whistleblower Andrew Maguire, whose complaint was brought by GATA to the U.S. Commodity Futures Trading Commission's hearing on the gold and silver markets a year ago March, tells King World News that the new Pan Asia Gold Exchange will create demand that will destroy the gold and silver shorts.
Maguire says: "By creating the first rolling spot contract, Chinese bank customers will for the first time have ease of access to 10-ounce gold contracts in renminbi directly from their bank accounts and with the click of a mouse. ... If just 1 percent of their customers bought a single 10-ounce contract, that would equate to 1,000 tons of physical gold being drawn down."
An excerpt from the interview can be found at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_Da...2011/7/6_Whi...
Maguire will make his first public appearance and speak at GATA's Gold Rush 2011 conference in London in August:
http://www.GATAgoldrush.com
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.
Join GATA here:
Gold Rush 2011 GATA's London Conference Thursday-Saturday, August 4-6, 2011 Savoy Hotel, London, England http://www.gatagoldrush.com Support GATA by purchasing gold and silver commemorative coins:
https://www.amsterdamgold.eu/gata/index.asp?BiD=12
Or by purchasing a colorful GATA T-shirt:
http://gata.org/tshirts
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
http://www.goldrush21.com/
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
