Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

CBC Documentary: The Secret World of Gold

IMG Auteur
Published : April 21st, 2013
207 words - Reading time : less than a minute
( 2 votes, 5/5 ) , 2 commentaries
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
2
comment
Our Newsletter...

Here is the CBC Documentary from this week, presented in three parts.

In Part Three they present Andrew Maguire and his activities in calling attention to manipulation in the silver market.

I could be surprised, but I expect nothing to be done for all the same reasons that Jeff Sachs cites in his talk to the Philadelphia Fed banking conference about the pathological environment on Wall Street, and how a docile President, Congress and regulators will say or do nothing about it.

I think they will, but only after something blows up so badly that they cannot keep hiding it and kicking it down the road. I cannot hardly blame them. And this does not speak to the situation in London and especially Berlin.

I am however seeing more indications that we are getting closer to a tipping point. And when and if it does break it could break rather quickly, with the exchanges closed or on holiday. There is a desperation in the air amongst the financerati and their loyal manservants.

So have a care when swimming in opaque waters that are subject to rip tides.








h/t To the TFerguson crowd for putting this up on Youtube and to SilverSaito for making me aware of it.
<< Previous article
Rate :Average :5 (2 votes)
>> Next article
Latest comment posted for this article
Hi Golden Boy. Is your real name Dan Dontrose by any chance? This is not SW ! I am not an expert trader. I was never a journalist. I have no interest in metals. Read more
S W. - 4/28/2013 at 1:10 AM GMT
Rating :  4  0
Top articles
Latest Comments
A Salvo in the Battle for the Go...
04:41overtheedge
I would argue that the devil is in the details, i.e. the definition of money. What the people of the US are using is currency. Currency bei...
In Search of the Magic Wand: Car...
25 FebDoom
Yes, stay away from University of Phoenix, a school with a 9% graduation rate, that only gets students because it spends $200,000 a day on Google a...
Emails From Kiev: Free Speech Va...
25 Febovertheedge
"The problem is, the asshats associated with Poroshenko are even worse than he is." I'm assuming you mean the predators in the US White Ho...
The Bull Case For Gold This Year...
25 Febdepourcq
You talked about all the wrong reasons that gold will rise or fall, their is only one that everyone should know. The US has a debt of 18.134 trilli...
The Bull Case For Gold This Year...
25 Febneville
The fact that you are very lowly rated might be one of two things .1.You have been playing this card to often (Bear Joker) 2,The other is that you ...
Interventionism Kills: Post-Coup...
24 FebJosu O.
A nice summary of what actually happened. It's sad that few europeans and even fewer americans are going to read it. My opinion is that US...
First ZIRP, Now NIRP!
24 FebM.
Industries which have been considered to be the safest places to place money are now being forced into becoming quasi hedge funds to achieve yield....
Debt Heaven Fallacy, not on Earth
23 FebKarandash
45 years ago I needed a loan to buy a car. I was 19. I had a job. But my parents had to put their house as collateral. ahh... forget it....
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Anaconda Min.(Au)ANX.TO
maximizing Pine Cove deposit potential through recent drilling
CA$ 0.04+0.00%Trend Power :
Corporate news
Sprott Resources(Ag-Au-Co)SCP.TO
Resource Corp. Announces Date for 2014 Annual Results Conference Call
CA$ 1.33-0.75%Trend Power :
Corporate news
Vena Res.(Ag-Au-Cu)VEM.TO
Intersects 24.2 Metres of 131 g/t Ag and 0.4 g/t Au Including 8.1 Metres of 292 g/t Ag and 0.
CA$ 0.07+16.67%Trend Power :
Corporate news
Tanami Gold(Ta-Au)TAM.AX
NST Signs HOA to Acquire Central Tanami
AU$ 0.03-7.14%Trend Power :
Corporate news
TristarTOG.TO
TORC Announces Closing of the Previously Announced Strategic Acquisition in Southeast Saskatc
CA$ 9.16-0.11%Trend Power :
Corporate news
Callinan Royalties(Cu-Le-Ni)CAA.V
Graduates to the Toronto Stock Exchange
CA$ 1.80+2.27%Trend Power :
Corporate news
BowmoreBOW.V
Reports Exploration Results From the Victoria Lake Tin Property in New Brunswick
CA$ 0.06+20.00%Trend Power :
Corporate news
Tahoe ResourcesTHO.TO
Announces Receipt Of Shareholder Approval
CA$ 17.00+0.06%Trend Power :
Corporate news
Bannerman(Ur)BMN.AX
Construction Update - Etango Heap Leach Demonstration Plant
AU$ 0.06+0.00%Trend Power :
Corporate news
Colibri Res.(ag-au-cu)CBI.V
Announces Annual and Special Meeting and Proposed Share Consolidation
CA$ 0.00+0.00%Trend Power :
Corporate news
Comments closed
  All Favorites Best Rated  
Hi Golden Boy. Is your real name Dan Dontrose by any chance?

This is not SW !

I am not an expert trader. I was never a journalist.
I have no interest in metals.
Rate :   4  0Rating :   4
EmailPermalink
I have watched both the Canadian and international versions of The Secret World of Gold, as well as the shorter web piece. I also have discussed it with people in the gold market who have seen it. As anyone who has seen it knows, they interviewed me for the piece.

I must say this, as both an expert in gold and a formerly very well regarded journalist: This mockumentary is a shameful disgrace to the world of journalism. They have gotten most historical and recent facts wrong. The piece is full of errors that they should have caught. For example, there was a full scale audit of the deep storage gold held at Fort Knox not too long ago, and the materials are in fact audited regularly. Ron Paul had hearings on this a few years ago at which the Treasury provided him a detailed description of the multi-year bar by bar inspection program. Yet the film producers chose to focus on Eric Sprott’s obscene contention that he believes the gold ‘probably’ is not there. The film has many, many more factual errors throughout.

Worse, they have accepted Andrew Maguire as a legitimate former trader, even though you were informed by at least one source that he was a fraud. You apparently did nothing to qualify him as a bona fide trader with real experience, in contrast to the Wall Street Journal, Financial Times, New York Times, CNN, BBC, and other legitimate journalistic enterprises that found they could not verify that he ever was in fact a gold trader, that he refused to provide one shred of credible evidence that he ever was a trader, or that any of his comments were based in anything other than attention seeking. The producers voiced-over pictures of Bart Chilton, one of the CFTC’s commissioners, with comments from Maguire saying how he interacted with Chilton. Chilton did not verify this in the film, but the producers purposefully try to give the impression he verified this happened.

The producers additionally have engaged in the most sensationalistic form of misrepresentation. One example: As my friend and client, Sam Sporn, discusses the Morgan Stanley case, on which I should note I was the expert witness for the plaintiffs and explained to Sam and the court the nature of the over-charging by Morgan Stanley, he is explaining how the issue was that Morgan Stanley was charging clients to hold allocated metals on their accounts when in fact it was holding unallocated metals. While that is the voice-over, the film shows some people opening an empty vault, implying that the metal was not there. That is whorish journalism, period. There can be no argument but that the film makers were trying to be sensationalistic in that. Indeed, throughout the entire documentary, the producers have this breathless narrator repeatedly mis-representing history, even down to the events of the fall of Poland during World War II.

In summary, shame on the film makers. They are not documentary film producers. They are sensationalists and distorters of facts who either chose to ignore major lies or were not competent to recognize them.
Rate :   0  4Rating :   -4
EmailPermalink
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.