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DiggerUK
Member since October 2013
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Maguire sees huge gold offtake; Jaitly says price suppression will backfire

- Chris Powell - GATA

Yet again, we see KWN and GATA promoting the fraudster Maguire as a reputable source for information.
And yet again we have Maguire making spurious claims such as "the name was known" but failing to share the name with us.
Then just for good measure we have a dire prediction that the 'rehypothecation arguments' are valid with us being asked to "Bear in mind that leverage has a huge effect. So when you have leveraged paper selling against unleveraged physical buying, then obviously you have a spring being compressed but it’s under the radar until it releases." being repeated yet again.
Well, I'm patient, I've heard all this before, and still we have no evidence to back up the claims. Only thing that is known for sure is that Maguire is a hoaxer who fools numpties.
..._

Commented 3500 days ago

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Beginning of the headline :London trader Andrew Maguire tells King World News today that the recent pounding of the gold price in the futures markets has resulted in offtake of about 650 tonnes of real metal in the last month: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/26_Ma... And fund manager and economist Sandeep Jaitly tells the Mexican financial journalist Guillermo Barba that gold price suppression by central banks will backfire by encouraging people to hoard more metal at discounted prices: ... Read More

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