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'Paper' gold is cracking as China builds a gold-based financial system, Maguire tells LFTV
12:04p ET Thursday, August 27, 2026
Dear Friend of GATA and Gold:
On this week's edition of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire says confidence in "paper" gold is "cracking" as China continues building an international financial system providing an alternative to the U.S. dollar.
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He adds that the latest U.S. economic sanctions against Iran and its trading partners will accelerate the shift to the Chinese system and the shift from "paper" gold to real metal.
Maguire says he shares the belief of GATA's consultant on the Bank for International Settlements, Robert Lambourne, that the bank's gold swaps are being used to conceal the double-counting of certain stocks of gold in the West. As these swaps are "squared" -- closed by the acquisition of real metal -- the bid for real metal will rise, Maguire says.
Gold that exchange-traded funds claim to hold is likely "rehypothecated," he says.
He says $8,000 is a likely fourth-quarter price for gold.
The program is 41 minutes long and can be viewed at the Kinesis Money channel at YouTube here:
https://www.youtube.com/watch?v=cdlTH2AEcnM
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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