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European banks obstructing gold withdrawals, London metals trader Maguire tells KWN
1:37p ET Friday, July 6, 2018
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire tells King World News today that Swiss and German banks increasingly are refusing to return gold to depositors, apparently as an extension of government regulations limiting cash withdrawals.
This obstruction, Maguire says, is in response to "a large move to allocate and remove gold and silver from the interconnected legacy banking system."
He adds: "I strongly suspect that the blatant officially rigged price decline into such a tight physical gold market is coordinated with officials quietly slamming the back door on clients looking to remove gold out of the legacy system."
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He thinks this increases the likelihood of an overnight "cash settlement" solution to the problem of undeliverable unallocated gold claims. "There is clearly a mandate in place to stem the upsurge of requests to remove physical bullion out of the unallocated pool of fractional gold held within the bare vaults of the interconnected legacy banking system," Maguire says.
Maguire's interview is summarized at KWN here --
https://kingworldnews.com/major-alert-andrew-maguire-says-major-german-b...
-- and audio is expected to be posted shortly.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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