The Chicago Mercantile Exchange this month reduced margin requirements for gold futures contracts to protect investment banks that were naked short and vulnerable to a squeeze, London metals trader Andrew Maguire tells King World News in the first installment of a two-part interview today.
"The game is so obvious," Maguire says, that "sovereign and central bank buyers are rewarded by sitting back and waiting for these banks to defend billions of dollars of paper bets as it gives the sovereign buyers a monthly opportunity to accumulate large bullion at a discount. And that is exactly what we've been seeing."
Part 1 of Maguire's interview is posted at the KWN blog here:
http://kingworldnews.com/kingworldnews/KWN_Da...2014/7/25_Ma...
And Hugo Salinas Price, president of the Mexican Civic Association for Silver, tells KWN that there will be "continued abuse of fiat money to fund the socialist state" and more limits on cash, "and people need to be prepared for that":
http://kingworldnews.com/kingworldnews/KWN...2014/7/25_Bi...
