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China is about to overthrow London in gold trading, Maguire tells KWN
4:10p ET Friday, February 27, 2015
Dear Friend of GATA and Gold:
The King World News Internet site seems to have returned to operation with an interview with London metals trader Andrew Maguire.
Having inserted its government-owned banks into the new London gold price fixing system, China will overthrow the London bullion banks with a new gold exchange that cuts the banks out of any privileged position in the market, Maguire says. He predicts that as the London market loses pricing power, the bullion banks operating there no longer will be able to deliver real metal and will be forced to settle contracts in cash. An excerpt from Maguire's interview is posted at the KWN blog here:
http://kingworldnews.com/andrew-maguire-lbma-paper-ponzi-crushed-gold-si...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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